030 Syllabus Fundamentals of Real Estate Fall 2013

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Syllabus

Washington Real Estate Fundamentals

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WA Real Estate Fundamentals Copyright2009 Baenen/Corl Page 1

SYLLABUS INTRODUCTION

This is an entry level course in real estate. The Fundamentals course is designed for buyers,sellers, investors, and those persons desirous of obtaining a real estate license. The coursefulfills the Washington 60 Clock Hour "Real Estate Fundamentals" requirement and is designedto assist the student in preparing for the WA State real estate broker's license exam.

Washington Real Estate Fundamentals covers legal titles and instruments, finance, evaluation,contracts, agency, and land economics.

This is not a Cram Course, but a course to enhance your knowledge of the real estateindustry, but it is the first course necessary to take your Brokers License Exam in the State of Washington (based on the current license law, effective as of July 1, 2010).

The second required course that must be taken prior to taking your real estate broker's examis Real Est a t e Pra ct i ces.

INSTRUCTOR AVAILABILITY

My name is Shirley Baenen and I am available using the email within the course. I answerquestions daily - Monday through Friday typically in the morning. Questions posted later in theday will be answered the following day.

The email function within the course is effective in most cases. If you have projectsubmissions that are too large for the email server, you can use my [email protected] personal email. Please contact me before sending.


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REQUIRED MATERIAL

This course has one required text:Mastering Real Estate Principles 6 th EditionPublisher:Real Estate Education Company155 North Wacker DriveChicago, Il 60606-1719Author: Gerald R. Cortesi

WASHINGTON STATE LICENSING LAWA Major Element of this course is the Washington Real Estate License Law. On the courseModule entitled Web Links, click on the Depar t ment of Licensing Real Estate. There arealso instructions on accessing The Law Relating to the Licensing of Real Estate Brokers andManaging Brokers.

Select: Laws and Rules from the Menu

The License Laws and Rules listed are a significant element of this course and should beviewed as an additional textbook. The Department of Licensing no longer will sendprinted copies.

Using the Department of Licensing Real Estate for this course provides the student with themost recent updates to the law. Check the last page for a view of the various license lawtitles both RCW (Revised Code of Washington) and WAC (Washington Administrative Code).

UNIT INSTRUCTIONS

Each Unit Module has a Chapter Outline Link. The Chapter Outline highlights the keyinformation from the textbook. Each Unit has a Chapter Text Link which providessupplementary material related to subject matter in the textbook.

After reading the material for each Unit, take the Unit Quiz.The next step is to complete the projects. We suggest you review the projects early in thecourse as much of the material in the textbook and supplementary material will assist you inthe research for the projects.


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QUIZZES, PROJECTS AND FINAL EXAM

QUIZZES

The Unit quizzes are to be completed after the each Chapter in the Unit has been completed.The quizzes are graded automatically, and you will know immediately which questions youhave answered correctly. The instructor has access to the quiz results for each student.

COURSE PROJECTS

PROJECT 1 - COMPLETING A CMA

There are detailed instructions (CMA Instructions) within the Course Project 1 Module on thecourse menu. Your assignment is to complete the ProStandardCMA using theProStandardCMA Guide, and then to email your completed CMA to the instructors as anattachment. There is Sample CMA is the Module. Review the Sample before you start.

PROJECT 2 - T HE HOME BUYING PROCESS

Project 2 presents a detailed sequential outline of the Home Buying Process, designed to helpthe student to better understand the flow of events and circumstances that a typical homepurchaser experiences.

Your assignment involves reading the first set of headings and subheadings in the outline(which contains suggestions and questions) to familiarize yourself with the material, and then

you are asked to write 2 or 3 sentences for each topic that would be sufficient for a buyer orseller to understand the concept, meaning or action to take for each section.

PROJECT 3 - LICENSE LAW QUEST IONNAIRE

The license law questionnaire is a structured series of research questions. Your assignment isto research those topics and submit the results of your efforts as an attachment in the courseemail. The primary reason for this project is to impress upon those taking the Washingtonstate brokers license exam that it is necessary to study the law and identify the points inthe law that a broker must follow to protect the consumer and practice in a lawful andethical manner. The project is just a few of the items necessary to cover before taking the

exam.

It is helpful if you will review the projects early in the course so you can start collecting ideason how to find all the information as you work through the course content. Be sure to readthe guides each project, especially Project 1 and Project 2.


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FINAL EXAM

There are eighty (80) questions from the Final Exam questions taken from the required text

book, Mastering Real Estate Principles (6th

Edition). There are 20 questions taken from theLicense Law, RCW 18.86 and associated WACs. The successful completions of the Final Examplus the three Projects mentioned above are all necessary to complete the course.

GRADING POLICY

Each student must achieve a minimum percentage of 70% on Each Quiz, Final Exam and eachProject for an accumulative total of not less than 70% of the overall points to successfullycomplete the course for real estate licensing purposes. The chapter quiz questions will betaken from each current textbook chapter (or the chapter before).

QUIZZES, EXAMS, PROJECTS POSSIBLE POINTS UNIT I Quiz 10 Questions 10

UNIT II Quiz - 20 Questions 20

UNIT III Quiz - 15 Questions 15

UNIT IV Quiz - 15 Questions 15

UNIT V Quiz - 25 Questions 25

UNIT VI Quiz - 10 Questions 10

UNIT VII Quiz - 20 Questions 20

UNIT VIII Quiz - 10 Questions 10

Total Quiz Points 125

Project 1Completing a CMA 100

Project 2Home Buying Process 100

Project 3License Law 100

Final ExamMultiple Choice 100

Total Points 525 Points


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SUBMISSION OF COURSE PROJECTS

THE THREE (3) PROJECTS ARE ALL DUE PRIOR TO NOVEMBER 25, 2013 (11:59 PM). NO

EXCEPTIONS!!!!

IF YOU NEED HELP DO NOT WAIT UNTIL THE LAST DAY TO COMPLETE THE PROJECTS.THERE IS LITTLE TIME FOR HELP AND/OR FEEDBACK DURING THE LAST WEEK OF THEQUARTER.

MATH QUIZ AND FINAL EXAM MUST BE COMPLETED BY DECEMBER 9, 2013 (11:55 PM). NOEXCEPTIONS!!

THESE DATES ARE ALSO NOTED IN THE ASSIGNMENTS MODULE.

TIMELINE TO COMPLETE THE COURSE

You must complete the course by the end of the college quarter in which you enrolled. Wesuggest you plan your studies accordingly. Upon successful completion of the course you willbe sent a Certificate of Completion.

AMP TESTING SERVICE

The State of Washington Department of Licensing has recently implemented a new system forindividuals who are anticipating registering to take real estate licensing examinations.

THIS IS IMPORTANT

As of May 1, 2012, students who plan to sit for licensure exams must register with the AMPTesting Service Portal. The AMP Portal is a secure online system that will allow real estateeducation providers to electronically verify pre-license course completion . The system willtrack students progress through the pre-license course requirements, and when thoserequirements are met, the system will automatically send the student an invitation to registerfor the appropriate licensing examination. With the Portal in use to track eligibility, studentswill no longer be required to take a Certificate of Education Document (CED) to the testingcenter, thus eliminating the possibility that any students will be turned away from the testingcenter if they forget or lose their CEDs.

There is a Module listed in Course Menu (AMP TESTING SERVICE) which contains thedirections for registering with the testing service.


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Department of Licensing Real Estate License Law URL

http://www.dol.wa.gov/business/realestate/lawsrules.html

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030 Syllabus Fundamentals of Real Estate Fall 2013