Real Estate Broker Learning Objectives

REAL ESTATE BROKER COURSE LEARNING OBJECTIVES

SUBJECT #1

THE BROKER'S OFFICE - OPERATION, MANAGEMENT AND SUPERVISION    (10 HOURS)

1.1   Discuss all occupations which require a broker's license in New York State.

1.2    Identify additional licensing and registration requirements for mortgage brokers and bankers.

1.3    List individuals who are exempt from the requirements of licensure.

1.4    Identify the steps that must be taken to obtain a real estate broker's license.

1.5    Describe the basic responsibilities of maintaining a broker's license in New York State.

1.6    Discuss the regulations that are promulgated by the Department of State under Article 12-A.

1.7    Recognize the liabilities and penalties that exist in connection with potential violations of the regulations.

1.8    Explain the basic formats of establishing a business entity and the advantages and disadvantages of each.

1.9    List the basic reasons for anti-trust legislation and the liabilities under the law.

1.10  Discuss the basic independent contractor laws in New York State and how they relate to real estate brokers and salespersons.

1.11  List the needs and the responsibilities of interaction with other brokerage firms.

1.12  Discuss the causes and decisions of rulings that have been rendered concerning broker's responsibilities to manage and supervise in compliance with license laws.

SUBJECT #2

REAL ESTATE AGENCY DISCLOSURE (REVIEW)    (4 HOURS)

2.1   Describe the duties of a real estate agent.

2.2   Define the word agent.

2.3   Understand the difference between a client and a customer.

2.4   List the different forms of agency alternatives and discuss the roles of each.

2.5   Define vicarious liability.  Discuss liability of all parties in all types of agency.

2.6   Understand the forms of listing agreements a client may sign and indicate the responsibility of the broker for each type.

2.7   Discuss the rights a client has concerning a request to be released from a listing agreement.  Discuss the rights a broker has concerning the granting of a release.

2.8  Understand the agency disclosure documents and discuss the steps that must be taken to properly disclose agency. Discuss the agency disclosure form prior to January 1, 2011 and the new form effective January 1, 2011.

2.9 Discuss advance consent to dual agency

2.10  Define what is meant by first substantive meeting.

SUBJECT #3

REAL ESTATE FINANCE II        (5 HOURS)

3.1  Discuss the definition and the various types of a mortgage.

3.2  Discuss the methods of underwriting construction loans.

3.3  Discuss the use of the lease as a form of financing property.

3.4  Describe the history and development of FHA financing.

3.5  Discuss how the economy affects the real estate market.

3.6  Explain how various lending policies affect the real estate market.

3.7  Recognize the various real estate cycles.

SUBJECT #4

BASIC FUNDAMENTALS OF REAL ESTATE INVESTMENTS   (5 HOURS)

4.1   Describe the fundamentals of real estate investments.

4.2   Discuss the various steps that must be employed to perform proper investment analysis.

4.3   Discuss the strategy that should be implemented before investing.

4.4   Describe the various types of investment properties and the advantages and disadvantages of each.

4.5   Discuss the analysis profile to be performed prior to investing.

4.6   List the tax considerations to review before and investment transaction is finalized.

SUBJECT #5

GENERAL BUSINESS LAW   (5 HOURS)

5.1   List the five sources of law that are associated with the study of General Business Law.

5.2   Explain the functions of the Uniform Commercial Code.

5.3   Describe various negotiable instruments.

5.4   List the requirements that allow negotiable instruments to be valid.

5.5   List various business organizations and the advantages and disadvantages of each.

5.6   Identify elements of both the Federal and New York State Court System.

5.7   Describe the various types of dispute resolution. 

5.8   Discuss the different types of bankruptcy that may be considered by businesses and individuals.

5.9   Understand the concept of marital property.

5.10 Understand the impact of marital litigation upon real estate ownership.

5.11 Understand the legal ramifications of the Statute of Limitations.

SUBJECT #6

CONSTRUCTION & DEVELOPMENT    (4 HOURS)

6.1   Discuss the various government agencies that regulate and oversee construction standards.

6.2   Explain how such standards affect real estate transactions and pre-contract building.

6.3   Explain how the failure to use due diligence may cause major faults and unsafe conditions.

6.4   Describe the various steps with respect to construction and approved use of land.

6.5   Discuss the various needs for both buyers and sellers to use building inspectors.

6.6   Discuss the steps prior to listing a property to determine pre-existing problems in the basic construction of the structure(s).

6.7   Define the meaning of subdivision.

6.8   Explain how an individual can determine the lawful use of any potential subdivision.

6.9   List the factors that determine the value of land.

6.10  Explain the steps to begin the development process.

6.11  List the steps in the acquisition of a subdivision.

6.12  Explain the requirements involved in the development and subsequent offering of condominiums and cooperatives.

SUBJECT #7

CONVEYANCE OF REAL PROPERTY & TITLE CLOSING & COSTS (REVIEW)   (3 HOURS)

7.1  Explain the term title, and list what is being conveyed.

7.2  Explain the bundle of rights.

7.3  Describe how title is conveyed during life.

7.4  Describe how title is conveyed after life.

7.5  List the various forms of voluntary alienation.

7.6  List the various forms of involuntary alienation.

SUBJECT #8

REAL ESTATE PROPERTY MANAGEMENT      (5 HOURS)

8.1  Describe the functions of property management.

8.2  Discuss the requirements and the elements of a management agreement.

8.3  List the required skills that an individual must possess in order to be a property manager.

8.4  Discuss the differences in the management of various types of properties.

8.5  Review the different relationships a property manager must have with the owner(s), tenants, and employees.

8.6  Review how an individual can become a property manager.

SUBJECT #9

TAXES AND ASSESSMENTS    (2 HOURS)

9.1  Explain the difference between tax assessment and tax appraisal of real property.

9.2  Describe the process of taxation.

9.3  Explain how taxes are computed.

9.4  Explain how an owner of real property may appeal an assessment.

9.5  Explain the equalization rate and how it is determined.

SUBJECT #10

LOCAL CONCERNS   (2 HOURS)
                                                                                                      

Explain and discuss:

Cease and Desist Regulations
Non-solicitation orders
Illegal entities/conversions
Rent regulations (rent control, rent stabilization)
farm land
forestry
sign ordinances
zoning issues
waterfront property
wetlands/restrictions
environmental problems

Program coordinators are not limited to the above local concerns.  An outline and learning objectives must be submitted for this two hour subject.