real estate (411) - Precision Exams
REAL ESTATE (411)
DESCRIPTION Students will be introduced to real estate basics that include the scope of the real estate business, usage of land, land description, ownership, contracts, deeds, mortgages, title searches and closes, liens, financing sources, the appraisal process, investments in real estate, and the sales and marketing process. Students will broach real estate marketing and sales through ethics, human, employee, and customer relations, use of product knowledge, and the use of advertising and the media. Exposure to real estate terminology, forms, and contracts is an integral part of this class. Students will be required to master the following competencies by 80% through state testing, and must be used in conjunction with the Performance evaluation of this course. Total Test Questions: 80
Levels: Grades 10-12
Units of Credit: 0.5
Prerequisites: None
STANDARDS, OBJECTIVES, AND INDICATORS STANDARD 1
15% of Exam Blueprint
STUDENTS WILL UNDERSTAND ECONOMICS AND THE MARKET AS IT RELATES TO REAL ESTATE. Objective 1:
Determine the scope of the real estate business. 1. Identify real estate terminology. 2. Discuss how real estate is at work all around us. 3. Discuss real estate as a trend indicator. 4. Discuss the variety of supporting activities. 5. Identify the impact on other industries.
Objective 2: Develop an understanding of the nature and characteristics of land. 1. Accurately define and understand the definition of real property. 2. Understand the nature of land. 3. Understand the physical and economic characteristics of land. 4. Identify ways in which land is created. 5. Evaluate man’s limitations in dealing with land. Objective 3: Understand the many uses of land. 1. Understand the concept of highest and best use. 2. Identify product types and local availability of those types. 3. Describe the most important considerations for each type of land (e.g., soil types, weather, view, and access). 4. Evaluate trends in the local area involving the transition of use, and determine how these trends affect the student and their community.
801-653-9356
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REAL ESTATE (411) Objective 4: Determine forces influencing the market for land. 1. Understand the concept of supply and demand. 2. Know how employment has an impact on the market for land. 3. Understand government regulations and their impact. 4. Describe the social environment of the student’s community and its impact on the market for land. Objective 5: Determine the importance of understanding the practices and identifying land and legal descriptions. 1. Understand the purpose and usage of a legal description. 2. Identify the five frequently used approaches to describing property. 3. Write a description of property and be able to draw it. 4. Know how to figure acreage in a section of a township. 5. Know number of square feet in an acre (43,560).
STANDARD 2
15% of Exam Blueprint
STUDENTS WILL UNDERSTAND PROPERTY RIGHTS AND THE FUNDAMENTALS OF OWNERSHIP. Objective 1: Develop an awareness of the different types of property ownership and the need for deeds. 1. Understand the concept of bundle of rights. 2. Identify the different types of freehold interests. 3. Explain the different types of property ownership. 4. Understand the steps leading to adverse possession. Objective 2: Develop an understanding of various types of contracts and the important part they play in real estate. 1. Accurately define contract. 2. Understand the four elements necessary for a contract to be a legal, valid document. 3. Discuss the use of contracts and clauses in real estate. Objective 3: Develop an understanding of deeds and the part they play in real estate. 1. Define deed. 2. Identify the items necessary to make a deed valid. 3. Identify the uses and different types of deeds.
STANDARD 3
16% of Exam Blueprint
STUDENTS WILL UNDERSTAND THE METHODS OF FINANCING. Objective 1: Develop an understanding of mortgages and methods of financing real estate investments. 801-653-9356
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REAL ESTATE (411) 1. Understand the various sources for funds for home mortgages. 2. Identify the different types of government mortgage institutions. 3. Discuss the secondary mortgage market.
801-653-9356
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Page 3 of 3
REAL ESTATE (411) PERFORMANCE STANDARD EVALUATION CHECKLIST__________ Student Name Instructor’s Name School
District
Performance Rating Scale: 1
2
3
4
5
6
7
8
9
10
Limited Skills.………….……....…Moderate Skills………….…………….High Skills
Performance assessments may be completed and evaluated at any time during the course. The following performance skills are to be used in connection with the associated written exam. To pass the performance standard the student must attain a performance standard average of 8 or higher on the rating scale. Students may be encouraged to repeat the objectives until they average 8 or higher for the following elements:
PERFORMANCE SKILLS STANDARDS STANDARD 1 – Identify local real estate values and market conditions.
Score:
STANDARD 2 – Compare mortgage rates and fees.
Score:
STANDARD 3 – Calculate qualification for a loan.
Score:
STANDARD 4 – Calculate simple interest.
Score:
801.653.9356
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Page |1
REAL ESTATE (411) PERFORMANCE SKILLS STANDARDS STANDARD 5 – Calculate commission and splits with other agents and brokers.
Score:
STANDARD 6 – Create an advertising promotional tool to promote a specific property.
Score:
PERFORMANCE STANDARD AVERAGE
801.653.9356
www.PrecisionExams.com
Average:
Page |2
DESCRIPTION Students will be introduced to real estate basics that include the scope of the real estate business, usage of land, land description, ownership, contracts, deeds, mortgages, title searches and closes, liens, financing sources, the appraisal process, investments in real estate, and the sales and marketing process. Students will broach real estate marketing and sales through ethics, human, employee, and customer relations, use of product knowledge, and the use of advertising and the media. Exposure to real estate terminology, forms, and contracts is an integral part of this class. Students will be required to master the following competencies by 80% through state testing, and must be used in conjunction with the Performance evaluation of this course. Total Test Questions: 80
Levels: Grades 10-12
Units of Credit: 0.5
Prerequisites: None
STANDARDS, OBJECTIVES, AND INDICATORS STANDARD 1
15% of Exam Blueprint
STUDENTS WILL UNDERSTAND ECONOMICS AND THE MARKET AS IT RELATES TO REAL ESTATE. Objective 1:
Determine the scope of the real estate business. 1. Identify real estate terminology. 2. Discuss how real estate is at work all around us. 3. Discuss real estate as a trend indicator. 4. Discuss the variety of supporting activities. 5. Identify the impact on other industries.
Objective 2: Develop an understanding of the nature and characteristics of land. 1. Accurately define and understand the definition of real property. 2. Understand the nature of land. 3. Understand the physical and economic characteristics of land. 4. Identify ways in which land is created. 5. Evaluate man’s limitations in dealing with land. Objective 3: Understand the many uses of land. 1. Understand the concept of highest and best use. 2. Identify product types and local availability of those types. 3. Describe the most important considerations for each type of land (e.g., soil types, weather, view, and access). 4. Evaluate trends in the local area involving the transition of use, and determine how these trends affect the student and their community.
801-653-9356
www.precisionexams.com
Page 1 of 3
REAL ESTATE (411) Objective 4: Determine forces influencing the market for land. 1. Understand the concept of supply and demand. 2. Know how employment has an impact on the market for land. 3. Understand government regulations and their impact. 4. Describe the social environment of the student’s community and its impact on the market for land. Objective 5: Determine the importance of understanding the practices and identifying land and legal descriptions. 1. Understand the purpose and usage of a legal description. 2. Identify the five frequently used approaches to describing property. 3. Write a description of property and be able to draw it. 4. Know how to figure acreage in a section of a township. 5. Know number of square feet in an acre (43,560).
STANDARD 2
15% of Exam Blueprint
STUDENTS WILL UNDERSTAND PROPERTY RIGHTS AND THE FUNDAMENTALS OF OWNERSHIP. Objective 1: Develop an awareness of the different types of property ownership and the need for deeds. 1. Understand the concept of bundle of rights. 2. Identify the different types of freehold interests. 3. Explain the different types of property ownership. 4. Understand the steps leading to adverse possession. Objective 2: Develop an understanding of various types of contracts and the important part they play in real estate. 1. Accurately define contract. 2. Understand the four elements necessary for a contract to be a legal, valid document. 3. Discuss the use of contracts and clauses in real estate. Objective 3: Develop an understanding of deeds and the part they play in real estate. 1. Define deed. 2. Identify the items necessary to make a deed valid. 3. Identify the uses and different types of deeds.
STANDARD 3
16% of Exam Blueprint
STUDENTS WILL UNDERSTAND THE METHODS OF FINANCING. Objective 1: Develop an understanding of mortgages and methods of financing real estate investments. 801-653-9356
www.precisionexams.com
Page 2 of 3
REAL ESTATE (411) 1. Understand the various sources for funds for home mortgages. 2. Identify the different types of government mortgage institutions. 3. Discuss the secondary mortgage market.
801-653-9356
www.precisionexams.com
Page 3 of 3
REAL ESTATE (411) PERFORMANCE STANDARD EVALUATION CHECKLIST__________ Student Name Instructor’s Name School
District
Performance Rating Scale: 1
2
3
4
5
6
7
8
9
10
Limited Skills.………….……....…Moderate Skills………….…………….High Skills
Performance assessments may be completed and evaluated at any time during the course. The following performance skills are to be used in connection with the associated written exam. To pass the performance standard the student must attain a performance standard average of 8 or higher on the rating scale. Students may be encouraged to repeat the objectives until they average 8 or higher for the following elements:
PERFORMANCE SKILLS STANDARDS STANDARD 1 – Identify local real estate values and market conditions.
Score:
STANDARD 2 – Compare mortgage rates and fees.
Score:
STANDARD 3 – Calculate qualification for a loan.
Score:
STANDARD 4 – Calculate simple interest.
Score:
801.653.9356
www.PrecisionExams.com
Page |1
REAL ESTATE (411) PERFORMANCE SKILLS STANDARDS STANDARD 5 – Calculate commission and splits with other agents and brokers.
Score:
STANDARD 6 – Create an advertising promotional tool to promote a specific property.
Score:
PERFORMANCE STANDARD AVERAGE
801.653.9356
www.PrecisionExams.com
Average:
Page |2
