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Texas Real Estate Pre-License-Correspondence

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Course Title Hours Price

Course Description

Course Number: (1111)

Agency relationships are the foundation of most real estate transactions. The relationship between a licensee and his or her client is considered a fiduciary relationship, meaning that the client places trust in the licensee to fulfill certain duties towards the client. A broker or licensee can act as a seller’s agent, a buyer’s agent, a subagent or an intermediary, and each of these four types of agency relationships has its own set of guidelines, as well its own ethical issues. Licensees who understand both the basics of agency law as well as the specific laws of agency in the state of Texas will be able to serve their clients and customers to the best of their abilities and avoid litigation.

The beginning of this course covers the basics of agency law in general, including the brief history of real estate agency, the definition of agency, the parties involved in the relationship, the types and degrees of authority and the role of agency in real estate. Then, the course covers all relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission. In addition, the student will learn about the creation and termination of agency relationships, the rules for agency disclosure, the duties required of agents, the agent’s liability, the Texas Deceptive Trade Practices Act, and the different types of agency agreements. The last two lessons in the course discuss the rules about commissions, antitrust laws and employment law in Texas.

As the student completes this module, he or she should attempt to fit the information in with the big picture of the real estate profession. The conclusion of the module will assist in drawing the information together by presenting real world practice, comprehension questions and case studies for the student’s consideration.

LEARNING OBJECTIVES

Upon completion of this module, the student will be able to.

  • Have learned about the history of real estate and the role of agency in the real estate profession.
  • Understand the role of the agent, the principal and the third party in the agency relationship.
  • Know the different types of authority.
  • Know the differences between the universal, general and the special agent.
  • Have read the relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission.
  • Understand the rules for disclosure of agency relationships and agency law.
  • Know the duties that an agent owes the principal and the third party.
  • Understand tort liability.
  • Know the circumstances under which a licensee may be held liable.
  • Understand how the licensee’s duties apply to the four different agency positions.
  • Be able to compare and contrast the different forms of listing agreements.
  • Understand buyer representation agreements.
  • Be familiar with the specific issues of an intermediary relationship.
  • Know how agency relationships are created and terminated.
  • Be able to list the guidelines for compensation eligibility.
  • Understand the concept of the procuring cause.
  • Know the impact gratuitous agency upon agency relationships.
  • Understand how antitrust laws affect compensation and commissions.
  • List the differences between employees and independent contractors.
  • Know the anti – discrimination laws.
  • Know what tasks unlicensed assistant can perform.

Regulatory Requirement

Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

Course Completion

Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

Testing

Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

Final Exam – Passing Grade 70%. You can take the final three times.

About The Subject Matter Expert

This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

Support

If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

30 $128

Course Description

Course Number: (1111)

Agency relationships are the foundation of most real estate transactions. The relationship between a licensee and his or her client is considered a fiduciary relationship, meaning that the client places trust in the licensee to fulfill certain duties towards the client. A broker or licensee can act as a seller’s agent, a buyer’s agent, a subagent or an intermediary, and each of these four types of agency relationships has its own set of guidelines, as well its own ethical issues. Licensees who understand both the basics of agency law as well as the specific laws of agency in the state of Texas will be able to serve their clients and customers to the best of their abilities and avoid litigation.

The beginning of this course covers the basics of agency law in general, including the brief history of real estate agency, the definition of agency, the parties involved in the relationship, the types and degrees of authority and the role of agency in real estate. Then, the course covers all relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission. In addition, the student will learn about the creation and termination of agency relationships, the rules for agency disclosure, the duties required of agents, the agent’s liability, the Texas Deceptive Trade Practices Act, and the different types of agency agreements. The last two lessons in the course discuss the rules about commissions, antitrust laws and employment law in Texas.

As the student completes this module, he or she should attempt to fit the information in with the big picture of the real estate profession. The conclusion of the module will assist in drawing the information together by presenting real world practice, comprehension questions and case studies for the student’s consideration.

LEARNING OBJECTIVES

Upon completion of this module, the student will be able to.

  • Have learned about the history of real estate and the role of agency in the real estate profession.
  • Understand the role of the agent, the principal and the third party in the agency relationship.
  • Know the different types of authority.
  • Know the differences between the universal, general and the special agent.
  • Have read the relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission.
  • Understand the rules for disclosure of agency relationships and agency law.
  • Know the duties that an agent owes the principal and the third party.
  • Understand tort liability.
  • Know the circumstances under which a licensee may be held liable.
  • Understand how the licensee’s duties apply to the four different agency positions.
  • Be able to compare and contrast the different forms of listing agreements.
  • Understand buyer representation agreements.
  • Be familiar with the specific issues of an intermediary relationship.
  • Know how agency relationships are created and terminated.
  • Be able to list the guidelines for compensation eligibility.
  • Understand the concept of the procuring cause.
  • Know the impact gratuitous agency upon agency relationships.
  • Understand how antitrust laws affect compensation and commissions.
  • List the differences between employees and independent contractors.
  • Know the anti – discrimination laws.
  • Know what tasks unlicensed assistant can perform.

Regulatory Requirement

Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

Course Completion

Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

Testing

Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

Final Exam – Passing Grade 70%. You can take the final three times.

About The Subject Matter Expert

This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

Support

If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

30 $128

Course Description

Texas Principles of Real Estate is a 60 – hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles.

Texas Principles of Real Estate contains the following modules.

  • Texas License Law
  • Real Property Ownership and Land Use
  • Code of Ethics in Real Estate Practice
  • Fair Housing
  • Agency
  • Contracts, Purchase and Sale Agreements
  • Environmental Hazards
  • Deeds
  • Titles and Records
  • Liens, Taxes and Foreclosures
  • Listing Agreements
  • Closing and Settlement Costs
  • Real Estate Appraisal
  • Real Estate Finance
  • Real Estate Math
  • Modules begin with an introduction, learning objectives and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real – world situations; each module is followed by a final quiz. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

    REGULATORY REQUIREMENTS

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    COURSE COMPLETION

    Affidavits can be found by clicking the Help link in the navigation bar on the Course Catalog. The affidavit will also be available to print upon course completion.

    TESTING

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    ABOUT THE SUBJECT MATTER EXPERT

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    SUPPORT

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    60 $256

    Course Description

    Texas Principles of Real Estate is a 60 – hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles.

    Texas Principles of Real Estate contains the following modules.

  • Texas License Law
  • Real Property Ownership and Land Use
  • Code of Ethics in Real Estate Practice
  • Fair Housing
  • Agency
  • Contracts, Purchase and Sale Agreements
  • Environmental Hazards
  • Deeds
  • Titles and Records
  • Liens, Taxes and Foreclosures
  • Listing Agreements
  • Closing and Settlement Costs
  • Real Estate Appraisal
  • Real Estate Finance
  • Real Estate Math
  • Modules begin with an introduction, learning objectives and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real – world situations; each module is followed by a final quiz. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

    REGULATORY REQUIREMENTS

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    COURSE COMPLETION

    Affidavits can be found by clicking the Help link in the navigation bar on the Course Catalog. The affidavit will also be available to print upon course completion.

    TESTING

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    ABOUT THE SUBJECT MATTER EXPERT

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    SUPPORT

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    60 $256

    Course Description

    Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson’s job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

    There are five sections or modules to this course and their learning objectives are listed below.

    1. Effective Communication
      • Explain the difference between “artistic” and “inartistic” information and the order in which they should appear in a well – structured argument.
      • Define the three different approaches (ethos, pathos and logos) used to present persuasively artistic information.
      • Define “rhetoric” as the act of identifying and utilizing the means of persuasion available in a given situation.
      • Use and present effectively inartistic information, or data.
      • Present himself or herself as a respectable professional whom people will trust.
      • Produce and manage emotions in a negotiation session.
      • Utilize logic, emotion and the appearance of ethical character as persuasive tools.
      • Identify the common persuasive tools that other people may attempt to utilize.
    2. Emotional Intelligence
      • Describe the development of emotional intelligence.
      • Define emotional intelligence.
      • Explain the relationship between cognitive and emotional intelligence.
      • Develop his or her emotional intelligence.
      • Utilize emotionally intelligent strategies to encourage successful negotiation sessions.
      • Maintain a mutually beneficial mindset during negotiation sessions.
      • Handle real estate transactions better by acting in an emotionally intelligent manner.
    3. General Negotiations
      • Explain why conflict is a common event in human life, and be able to describe common responses to conflict.
      • Apply his understanding of conflict reactions to make judgments about which response is appropriate in a particular conflict.
      • Describe the central role of concessions and commitments in negotiation.
      • Discover and evaluate her best alternative to a negotiated agreement.
      • Know how to rank his alternatives in terms of preference, and be able to explain how these preferences determine the scope of negotiation.
      • Name and apply some basic strategies for evaluating the offers made during negotiation.
      • Recognize the basic considerations she must explore to prepare for negotiation.
      • Distinguish between the two common styles of negotiation, and make judgments about which style is appropriate for a particular conflict.
      • Outline the central strategies of these negotiation methods, as well as the demands each approach places on negotiators.
      • Spell out the purpose of high – pressure negotiating tactics, and give examples of both the tactics themselves and strategies for managing the high – pressure negotiator.
      • Apply his ethical standard in negotiations, and be able to explain why unethical behavior is a potential problem in negotiation.
      • State the common cognitive errors and psychological tendencies that are the primary pitfalls of the negotiation process, and give details about the problems these issues pose for negotiators.
    4. Reading People
      • Identify whether a person is lying, frustrated, happy, depressed, etc. from body language exhibited.
      • Distinguish between the different types of nonverbal communication.
      • Recognize behaviors in both familiar and unfamiliar acquaintances from verbal and nonverbal cues, including vocal traits, habits and physical traits.
      • Comprehend the motivations that keep people from seeing objectively.
      • Apply techniques to improve communication and aid understanding.
      • Discern aspects of personality from environmental context, including office, home, social and geographic environments.
      • Recognize hidden communications in conversation.
    5. Real Estate Negotiations
      • Describe the liability concerns facing all real estate salespeople, and outline how these affect the general negotiation process.
      • Explain the basic conflicts common to real estate negotiation.
      • Recognize general strategies that can help to minimize conflict in any negotiation.
      • Explain why alternatives are important in real estate negotiation.
      • Identify the problems created by deciding too much too early in the negotiation process, and the difficulties that result from adopting an overly competitive stance.
      • Apply a clear method for determining which issues present problems in a given negotiation, and rank them according to the amount of negotiation it will take to resolve them.
      • Describe the basic steps of successful communication.
      • Outline the basic steps and purpose of active listening.
      • Recognize the role that effective use of language plays in successful real estate negotiation.
      • Distinguish the needs, wants and desires of the parties involved in a real estate transaction.
      • State the way raw needs, wants and desires are translated into the benefits of a particular property.
      • Use benefits to build the framework of a mutually acceptable deal.
      • Identify and apply several general strategies for dealing with objections.
      • Recognize the signs of concealed objections.
      • Distinguish and explain general strategies that help a salesperson manage the offer – counter offer process effectively.
      • Determine what kind of preparatory strategies are needed before attempting to close a deal.
      • Describe three basic closing methods, and identify what features of a deal would make it appropriate to choose one particular method.
      • Recognize when and how it is appropriate to use the purchase agreement as a negotiation tool.

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson’s job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

    There are five sections or modules to this course and their learning objectives are listed below.

    1. Effective Communication
      • Explain the difference between “artistic” and “inartistic” information and the order in which they should appear in a well – structured argument.
      • Define the three different approaches (ethos, pathos and logos) used to present persuasively artistic information.
      • Define “rhetoric” as the act of identifying and utilizing the means of persuasion available in a given situation.
      • Use and present effectively inartistic information, or data.
      • Present himself or herself as a respectable professional whom people will trust.
      • Produce and manage emotions in a negotiation session.
      • Utilize logic, emotion and the appearance of ethical character as persuasive tools.
      • Identify the common persuasive tools that other people may attempt to utilize.
    2. Emotional Intelligence
      • Describe the development of emotional intelligence.
      • Define emotional intelligence.
      • Explain the relationship between cognitive and emotional intelligence.
      • Develop his or her emotional intelligence.
      • Utilize emotionally intelligent strategies to encourage successful negotiation sessions.
      • Maintain a mutually beneficial mindset during negotiation sessions.
      • Handle real estate transactions better by acting in an emotionally intelligent manner.
    3. General Negotiations
      • Explain why conflict is a common event in human life, and be able to describe common responses to conflict.
      • Apply his understanding of conflict reactions to make judgments about which response is appropriate in a particular conflict.
      • Describe the central role of concessions and commitments in negotiation.
      • Discover and evaluate her best alternative to a negotiated agreement.
      • Know how to rank his alternatives in terms of preference, and be able to explain how these preferences determine the scope of negotiation.
      • Name and apply some basic strategies for evaluating the offers made during negotiation.
      • Recognize the basic considerations she must explore to prepare for negotiation.
      • Distinguish between the two common styles of negotiation, and make judgments about which style is appropriate for a particular conflict.
      • Outline the central strategies of these negotiation methods, as well as the demands each approach places on negotiators.
      • Spell out the purpose of high – pressure negotiating tactics, and give examples of both the tactics themselves and strategies for managing the high – pressure negotiator.
      • Apply his ethical standard in negotiations, and be able to explain why unethical behavior is a potential problem in negotiation.
      • State the common cognitive errors and psychological tendencies that are the primary pitfalls of the negotiation process, and give details about the problems these issues pose for negotiators.
    4. Reading People
      • Identify whether a person is lying, frustrated, happy, depressed, etc. from body language exhibited.
      • Distinguish between the different types of nonverbal communication.
      • Recognize behaviors in both familiar and unfamiliar acquaintances from verbal and nonverbal cues, including vocal traits, habits and physical traits.
      • Comprehend the motivations that keep people from seeing objectively.
      • Apply techniques to improve communication and aid understanding.
      • Discern aspects of personality from environmental context, including office, home, social and geographic environments.
      • Recognize hidden communications in conversation.
    5. Real Estate Negotiations
      • Describe the liability concerns facing all real estate salespeople, and outline how these affect the general negotiation process.
      • Explain the basic conflicts common to real estate negotiation.
      • Recognize general strategies that can help to minimize conflict in any negotiation.
      • Explain why alternatives are important in real estate negotiation.
      • Identify the problems created by deciding too much too early in the negotiation process, and the difficulties that result from adopting an overly competitive stance.
      • Apply a clear method for determining which issues present problems in a given negotiation, and rank them according to the amount of negotiation it will take to resolve them.
      • Describe the basic steps of successful communication.
      • Outline the basic steps and purpose of active listening.
      • Recognize the role that effective use of language plays in successful real estate negotiation.
      • Distinguish the needs, wants and desires of the parties involved in a real estate transaction.
      • State the way raw needs, wants and desires are translated into the benefits of a particular property.
      • Use benefits to build the framework of a mutually acceptable deal.
      • Identify and apply several general strategies for dealing with objections.
      • Recognize the signs of concealed objections.
      • Distinguish and explain general strategies that help a salesperson manage the offer – counter offer process effectively.
      • Determine what kind of preparatory strategies are needed before attempting to close a deal.
      • Describe three basic closing methods, and identify what features of a deal would make it appropriate to choose one particular method.
      • Recognize when and how it is appropriate to use the purchase agreement as a negotiation tool.

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    How to Build a Real Estate Practice in Texas is a thirty – hour course for experienced real estate professionals who wish to establish their own real estate brokerages. The course provides information on how to successfully operate a business, teaches professional skills necessary to provide high – quality service to clients, discusses risk management and compliance within federal and state law, and addresses issues related to valuation and finance.

    There are seven sections or modules to this course and their learning objectives are listed below.

    1. How to Build a Successful Business
      • Understand the risks and requirements of starting a business
      • Be able to create a mission statement, business plan and marketing plan
      • Be able to recognize the significance of market presence
      • Understand the importance of referrals, prospecting and farming
      • Know how to develop effective communication skills
      • Be able to use various marketing techniques in order to promote the services of a real estate brokerage firm
      • Know how to hire and train employees
      • Be able to build lasting relationships with partners and clients
      • Understand the characteristics of an effective manager
    2. Asset Management
      • Be familiar with the basic concepts of asset management
      • Be familiar with the common decisions faced by an asset manager
      • Know what a Real Estate Investment Trust (REIT) is and the benefits of investing in one
      • Understand the risks and rewards associated with real estate investment
      • Know how to conduct a useful market study
      • Understand how interest rates affect the real estate market
      • Be able to calculate the depreciation of residential and commercial real property held for business or investment
      • Be familiar with the financial ratio methods of valuation, including Price to Earnings Ratios and Cap Rates
      • Know how to create a pro forma projection for a real estate investment alternative
      • Know the basics of a Discounted Cash Flow (DCF) analysis
      • Know how to use the Net Present Value (NPV) and Internal Rate of Return (IRR) to compare the values of several alternatives
      • Be familiar with distressed properties and how to handle them
      • Know the important factors to consider when refinancing
      • Be able to apply these concepts in the real world
    3. Tax – Favorable Real Estate Transactions
      • Identify motivated buying and selling clients.
      • Outline the attributes of qualified and non – qualified products and how they can benefit to the sales process.
      • Describe the restrictive rulings of the 1031 exchange program.
      • Explain how money can be accumulated using pre – tax dollars, accumulating interest on a tax – deferred basis and creating litigation protection.
      • State charitable strategies for creating income and tax relief for individuals or families owning highly – appreciated real estate.
      • Describe charitable gift annuities and the annuity payments, income benefits and tax advantages associated with them.
      • State the parameters that the IRS uses to define a valid “like kind” exchange.
      • Explain the advantages and disadvantages of various exchanging alternatives.
      • Outline the mechanics of a successful tax – deferred exchange and the role of each party in those exchanges.
      • Identify common exchange documentation and describe the role of a qualified intermediary.
      • Define “boot” and explain how to deal with it.
      • Calculate whether a sale is preferable to an exchange.
    4. Code of Ethics
      • Identify the definition of ethics used in this course.
      • Briefly describe the four business ethics approaches used in this course.
      • List major categories of the Articles of the NAR® Code of Ethics.
      • Describe the structure of the NAR® Code of Ethics and its supporting materials.
      • Identify at least two aspirational concepts in the Preamble to the NAR® Code of Ethics, describe the concept of general business ethics and identify how the Code of Ethics compares and contrasts with the concept of general business ethics.
      • Describe the concepts of at least two of the following Articles of the Code of Ethics: Articles 1, 2, 3, 9, 11, 12, 16, and 17.
      • Identify possible violations of the NAR® Code of Ethics given interactive learning methods such as case studies, quizzes, role playing and group discussion of fact scenarios.
      • Briefly describe the professional standards enforcement process of a local board or association.
      • Differentiate between intentional fraud, negligent misrepresentation and negligence.
      • List the three violations of antitrust laws: price fixing, group boycotts and market allocations.
      • Describe how the existence of and adherence to the NAR® Code of Ethics is good for the real estate profession.
    5. Fair Housing
      • Understand the purpose of the Federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
      • Be aware of the seven activities considered illegal as a result of the Fair Housing Laws.
      • Know the five exemptions from the Federal Fair Housing Laws for property owners.
      • Be able to recognize discrimination in real estate practice.
      • Be able to identify acts considered discriminatory under the Fair Housing Act of 1968 as amended in 1972 and 1988.
      • Understand the purpose of the Federal Equal Credit Opportunity Act (ECOA) and know the classes it protects.
      • Understand the purpose of the Americans with Disabilities Act ADA).
      • Know how the ADA affects real estate practice.
      • Know how Fair Housing Complaints are handled.
      • Know the penalties for non – compliance with Fair Housing Laws
      • Know how to incorporate business practices designed to prevent discrimination by real estate professionals.
      • Understand the purpose of the HUD/NAR Partnership and why it is important.
      • Know the most important principle in following HUD Advertising Guidelines.
      • Be able to identify acceptable and unacceptable words and phrases for use in advertisements.
      • Have learned how to apply those practices that will assist a REALTOR® in evidencing that he or she does not discriminate.
      • Know what the differences are between federal regulations and Texas State regulations on fair housing.
    6. Real Estate Appraisal
      • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
      • Identify the basic capacities and skills of a qualified appraiser.
      • Recognize the valuation principles used in real estate appraisal.
      • Apply value theories to arrive at purchase prices of real estate.
      • Characterize a favorable market for real estate sales.
      • Differentiate the three approaches to value commonly used in appraisal.
      • Follow the eight steps to the appraisal process to arrive at an accurate purchase price.
      • Analyze and interpret an appraisal report.
      • Differentiate between appraisal licensure and certification.
    7. Real Estate Finance
      • Understand the basic concepts of real estate financing, and the key terms involved
      • Know how to qualify a buyer for the most common types of loans
      • Be familiar with the use and function of escrow accounts
      • Know what a Mortgage Insurance Premium is
      • Know the underwriting guidelines and process
      • Be familiar with the three most common types of loans: Conventional, FHA and VA
      • Know the advantages and disadvantages of conventional loans
      • Know how to use conventional qualifying ratios
      • Know the advantages and disadvantages of FHA loans
      • Know about the differing FHA qualification ratios
      • Know the advantages and disadvantages of VA loans
      • Be familiar with VA eligibility and qualification periods
      • Be able to calculate the amount of VA entitlement used
      • Be able to calculate VA loan amounts and required down payments
      • Know the process and qualifications for assuming VA and FHA loans
      • Be familiar with other types of loans available
      • Know how to underwrite and close loans

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    How to Build a Real Estate Practice in Texas is a thirty – hour course for experienced real estate professionals who wish to establish their own real estate brokerages. The course provides information on how to successfully operate a business, teaches professional skills necessary to provide high – quality service to clients, discusses risk management and compliance within federal and state law, and addresses issues related to valuation and finance.

    There are seven sections or modules to this course and their learning objectives are listed below.

    1. How to Build a Successful Business
      • Understand the risks and requirements of starting a business
      • Be able to create a mission statement, business plan and marketing plan
      • Be able to recognize the significance of market presence
      • Understand the importance of referrals, prospecting and farming
      • Know how to develop effective communication skills
      • Be able to use various marketing techniques in order to promote the services of a real estate brokerage firm
      • Know how to hire and train employees
      • Be able to build lasting relationships with partners and clients
      • Understand the characteristics of an effective manager
    2. Asset Management
      • Be familiar with the basic concepts of asset management
      • Be familiar with the common decisions faced by an asset manager
      • Know what a Real Estate Investment Trust (REIT) is and the benefits of investing in one
      • Understand the risks and rewards associated with real estate investment
      • Know how to conduct a useful market study
      • Understand how interest rates affect the real estate market
      • Be able to calculate the depreciation of residential and commercial real property held for business or investment
      • Be familiar with the financial ratio methods of valuation, including Price to Earnings Ratios and Cap Rates
      • Know how to create a pro forma projection for a real estate investment alternative
      • Know the basics of a Discounted Cash Flow (DCF) analysis
      • Know how to use the Net Present Value (NPV) and Internal Rate of Return (IRR) to compare the values of several alternatives
      • Be familiar with distressed properties and how to handle them
      • Know the important factors to consider when refinancing
      • Be able to apply these concepts in the real world
    3. Tax – Favorable Real Estate Transactions
      • Identify motivated buying and selling clients.
      • Outline the attributes of qualified and non – qualified products and how they can benefit to the sales process.
      • Describe the restrictive rulings of the 1031 exchange program.
      • Explain how money can be accumulated using pre – tax dollars, accumulating interest on a tax – deferred basis and creating litigation protection.
      • State charitable strategies for creating income and tax relief for individuals or families owning highly – appreciated real estate.
      • Describe charitable gift annuities and the annuity payments, income benefits and tax advantages associated with them.
      • State the parameters that the IRS uses to define a valid “like kind” exchange.
      • Explain the advantages and disadvantages of various exchanging alternatives.
      • Outline the mechanics of a successful tax – deferred exchange and the role of each party in those exchanges.
      • Identify common exchange documentation and describe the role of a qualified intermediary.
      • Define “boot” and explain how to deal with it.
      • Calculate whether a sale is preferable to an exchange.
    4. Code of Ethics
      • Identify the definition of ethics used in this course.
      • Briefly describe the four business ethics approaches used in this course.
      • List major categories of the Articles of the NAR® Code of Ethics.
      • Describe the structure of the NAR® Code of Ethics and its supporting materials.
      • Identify at least two aspirational concepts in the Preamble to the NAR® Code of Ethics, describe the concept of general business ethics and identify how the Code of Ethics compares and contrasts with the concept of general business ethics.
      • Describe the concepts of at least two of the following Articles of the Code of Ethics: Articles 1, 2, 3, 9, 11, 12, 16, and 17.
      • Identify possible violations of the NAR® Code of Ethics given interactive learning methods such as case studies, quizzes, role playing and group discussion of fact scenarios.
      • Briefly describe the professional standards enforcement process of a local board or association.
      • Differentiate between intentional fraud, negligent misrepresentation and negligence.
      • List the three violations of antitrust laws: price fixing, group boycotts and market allocations.
      • Describe how the existence of and adherence to the NAR® Code of Ethics is good for the real estate profession.
    5. Fair Housing
      • Understand the purpose of the Federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
      • Be aware of the seven activities considered illegal as a result of the Fair Housing Laws.
      • Know the five exemptions from the Federal Fair Housing Laws for property owners.
      • Be able to recognize discrimination in real estate practice.
      • Be able to identify acts considered discriminatory under the Fair Housing Act of 1968 as amended in 1972 and 1988.
      • Understand the purpose of the Federal Equal Credit Opportunity Act (ECOA) and know the classes it protects.
      • Understand the purpose of the Americans with Disabilities Act ADA).
      • Know how the ADA affects real estate practice.
      • Know how Fair Housing Complaints are handled.
      • Know the penalties for non – compliance with Fair Housing Laws
      • Know how to incorporate business practices designed to prevent discrimination by real estate professionals.
      • Understand the purpose of the HUD/NAR Partnership and why it is important.
      • Know the most important principle in following HUD Advertising Guidelines.
      • Be able to identify acceptable and unacceptable words and phrases for use in advertisements.
      • Have learned how to apply those practices that will assist a REALTOR® in evidencing that he or she does not discriminate.
      • Know what the differences are between federal regulations and Texas State regulations on fair housing.
    6. Real Estate Appraisal
      • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
      • Identify the basic capacities and skills of a qualified appraiser.
      • Recognize the valuation principles used in real estate appraisal.
      • Apply value theories to arrive at purchase prices of real estate.
      • Characterize a favorable market for real estate sales.
      • Differentiate the three approaches to value commonly used in appraisal.
      • Follow the eight steps to the appraisal process to arrive at an accurate purchase price.
      • Analyze and interpret an appraisal report.
      • Differentiate between appraisal licensure and certification.
    7. Real Estate Finance
      • Understand the basic concepts of real estate financing, and the key terms involved
      • Know how to qualify a buyer for the most common types of loans
      • Be familiar with the use and function of escrow accounts
      • Know what a Mortgage Insurance Premium is
      • Know the underwriting guidelines and process
      • Be familiar with the three most common types of loans: Conventional, FHA and VA
      • Know the advantages and disadvantages of conventional loans
      • Know how to use conventional qualifying ratios
      • Know the advantages and disadvantages of FHA loans
      • Know about the differing FHA qualification ratios
      • Know the advantages and disadvantages of VA loans
      • Be familiar with VA eligibility and qualification periods
      • Be able to calculate the amount of VA entitlement used
      • Be able to calculate VA loan amounts and required down payments
      • Know the process and qualifications for assuming VA and FHA loans
      • Be familiar with other types of loans available
      • Know how to underwrite and close loans

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    In the real estate industry, agreements are made everyday. Whether a salesperson is promising to sell a property within a specified period of time, a buyer is placing an offer on a house or a buyer is trying to purchase a property, some type of contract will be involved.

    Before entering into a legally binding agreement, real estate professionals should fully understand the different types of contracts that govern their industry. If a real estate professional makes a mistake while making a contract, he or she will be held liable for that mistake. Therefore, it is vital that real estate professionals protect themselves against errors, oversights and misunderstandings.

    This course will introduce the student to contracts by identifying the components that create a valid contract as well as the different types of contracts that govern the real estate industry. However, in order to set the foundation for this course, we begin by discussing agency relationships. The law of agency governs the types of duties and obligations that an agent owes to his or her client as well as the duties and obligations the client owes to the agent. Agents must understand these types of relationships prior to entering into agreements that bind them to them. Once an understanding of the law of agency has been established, we will proceed to discuss the components of contracts, the importance of contracts, the laws that regulate contracts and the types of real estate contracts.

    This course will discuss the five components of a legally enforceable contract; a contract must have legally competent parties, have consideration, have lawful objective, adhere to the statute of frauds and have mutual assent. Once the student understands what comprises a valid contract, we will identify the important laws and rules that govern contracts; these include: the statute of frauds, the doctrine of laches, the Texas Real Estate License Act, promissory estoppel, the parol evidence rule, promissory estoppel, the Uniform Commercial Code and the Deceptive Trade Practices Act.

    From there, we will probe the different categories of contracts, such as implied, express, unilateral, bilateral, valid, unenforceable, void, voidable, executed and executory contracts. This will set the foundation for the next section of the course, which will cover real estate contracts. There are several different types of real estate contracts, but we will focus on: listing agreements, sale contracts, contract for deeds, option agreements, leases and TREC promulgated forms.

    Lesson 6 and Lesson 7 will discuss two real estate contracts in further detail-listing agreements and leases. The listing agreement is the most important document that an agent has that identifies his or her contractual obligation to and relationship with his or her client; therefore, it is vital that the agent be able to differentiate between the various types of listing agreements. It is also important that the agent understand leases; his or her client will most likely obtain the agent’s services if he or she has questions or needs assistance with his or her contractual obligations to the landlord.

    Lesson 8 identifies the consequences of a breached contract. A breach of contract occurs when one party does not fulfill or carry out the terms of the agreement as outlined by the contract. When this occurs, the agent should be able to identify not only the consequences, but the remedies as well.

    Lesson 9 will introduce the student to real estate finance. One of the key elements of real estate transactions is the ability to obtain financing. For instance, most real estate contracts will have contingencies that stipulate that a contract can be rescinded if the financial aspects of the contract are not met. Therefore, the agent should be familiar with the different kinds of loans and financing available to his or her client.

    Lesson 10 concludes the course by testing the student’s ability to apply his or her knowledge of Texas Contracts.

    LEARNING OBJECTIVES

    Upon completion of this module, the student will be able to.

    • Understand agency relationships
    • Understand the licensee’s role in real estate transactions
    • Be familiar with the process of working with buyers and sellers
    • Identify the differences between the various types of contracts
    • Know the three elements of a contract
    • Outline the five components of a legally enforceable contract
    • Apply the laws, doctrines and statutes that govern real estate contracts
    • Distinguish between the different types of real estate contracts
    • Recognize and complete the forms promulgated by TREC
    • Completely perform a contract
    • Recall the important elements of leases and listing agreements
    • Discern between valid, void, voidable and unenforceable contracts
    • Identify the various consequences for breaching a contract
    • List the remedies for breaching a contract
    • Recognize when rescission is acceptable
    • Understand the concepts of novation and assignment
    • Understand when contract breaches occur and the consequences and/or remedies for a breach of contract
    • Recognize the various contracts and forms that govern FHA and VA loans
    • Understand the requirements for a VA or FHA loan

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    In the real estate industry, agreements are made everyday. Whether a salesperson is promising to sell a property within a specified period of time, a buyer is placing an offer on a house or a buyer is trying to purchase a property, some type of contract will be involved.

    Before entering into a legally binding agreement, real estate professionals should fully understand the different types of contracts that govern their industry. If a real estate professional makes a mistake while making a contract, he or she will be held liable for that mistake. Therefore, it is vital that real estate professionals protect themselves against errors, oversights and misunderstandings.

    This course will introduce the student to contracts by identifying the components that create a valid contract as well as the different types of contracts that govern the real estate industry. However, in order to set the foundation for this course, we begin by discussing agency relationships. The law of agency governs the types of duties and obligations that an agent owes to his or her client as well as the duties and obligations the client owes to the agent. Agents must understand these types of relationships prior to entering into agreements that bind them to them. Once an understanding of the law of agency has been established, we will proceed to discuss the components of contracts, the importance of contracts, the laws that regulate contracts and the types of real estate contracts.

    This course will discuss the five components of a legally enforceable contract; a contract must have legally competent parties, have consideration, have lawful objective, adhere to the statute of frauds and have mutual assent. Once the student understands what comprises a valid contract, we will identify the important laws and rules that govern contracts; these include: the statute of frauds, the doctrine of laches, the Texas Real Estate License Act, promissory estoppel, the parol evidence rule, promissory estoppel, the Uniform Commercial Code and the Deceptive Trade Practices Act.

    From there, we will probe the different categories of contracts, such as implied, express, unilateral, bilateral, valid, unenforceable, void, voidable, executed and executory contracts. This will set the foundation for the next section of the course, which will cover real estate contracts. There are several different types of real estate contracts, but we will focus on: listing agreements, sale contracts, contract for deeds, option agreements, leases and TREC promulgated forms.

    Lesson 6 and Lesson 7 will discuss two real estate contracts in further detail-listing agreements and leases. The listing agreement is the most important document that an agent has that identifies his or her contractual obligation to and relationship with his or her client; therefore, it is vital that the agent be able to differentiate between the various types of listing agreements. It is also important that the agent understand leases; his or her client will most likely obtain the agent’s services if he or she has questions or needs assistance with his or her contractual obligations to the landlord.

    Lesson 8 identifies the consequences of a breached contract. A breach of contract occurs when one party does not fulfill or carry out the terms of the agreement as outlined by the contract. When this occurs, the agent should be able to identify not only the consequences, but the remedies as well.

    Lesson 9 will introduce the student to real estate finance. One of the key elements of real estate transactions is the ability to obtain financing. For instance, most real estate contracts will have contingencies that stipulate that a contract can be rescinded if the financial aspects of the contract are not met. Therefore, the agent should be familiar with the different kinds of loans and financing available to his or her client.

    Lesson 10 concludes the course by testing the student’s ability to apply his or her knowledge of Texas Contracts.

    LEARNING OBJECTIVES

    Upon completion of this module, the student will be able to.

    • Understand agency relationships
    • Understand the licensee’s role in real estate transactions
    • Be familiar with the process of working with buyers and sellers
    • Identify the differences between the various types of contracts
    • Know the three elements of a contract
    • Outline the five components of a legally enforceable contract
    • Apply the laws, doctrines and statutes that govern real estate contracts
    • Distinguish between the different types of real estate contracts
    • Recognize and complete the forms promulgated by TREC
    • Completely perform a contract
    • Recall the important elements of leases and listing agreements
    • Discern between valid, void, voidable and unenforceable contracts
    • Identify the various consequences for breaching a contract
    • List the remedies for breaching a contract
    • Recognize when rescission is acceptable
    • Understand the concepts of novation and assignment
    • Understand when contract breaches occur and the consequences and/or remedies for a breach of contract
    • Recognize the various contracts and forms that govern FHA and VA loans
    • Understand the requirements for a VA or FHA loan

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Agency relationships are the foundation of most real estate transactions. The relationship between a licensee and his or her client is considered a fiduciary relationship, meaning that the client places trust in the licensee to fulfill certain duties towards the client. A broker or licensee can act as a seller’s agent, a buyer’s agent, a subagent or an intermediary, and each of these four types of agency relationships has its own set of guidelines, as well its own ethical issues. Licensees who understand both the basics of agency law as well as the specific laws of agency in the state of Texas will be able to serve their clients and customers to the best of their abilities and avoid litigation.

    The beginning of this course covers the basics of agency law in general, including the brief history of real estate agency, the definition of agency, the parties involved in the relationship, the types and degrees of authority and the role of agency in real estate. Then, the course covers all relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission. In addition, the student will learn about the creation and termination of agency relationships, the rules for agency disclosure, the duties required of agents, the agent’s liability, the Texas Deceptive Trade Practices Act, and the different types of agency agreements. The last two lessons in the course discuss the rules about commissions, antitrust laws and employment law in Texas.

    As the student completes this module, he or she should attempt to fit the information in with the big picture of the real estate profession. The conclusion of the module will assist in drawing the information together by presenting real world practice, comprehension questions and case studies for the student’s consideration.

    LEARNING OBJECTIVES

    Upon completion of this module, the student will be able to.

    • Have learned about the history of real estate and the role of agency in the real estate profession.
    • Understand the role of the agent, the principal and the third party in the agency relationship.
    • Know the different types of authority.
    • Know the differences between the universal, general and the special agent.
    • Have read the relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission.
    • Understand the rules for disclosure of agency relationships and agency law.
    • Know the duties that an agent owes the principal and the third party.
    • Understand tort liability.
    • Know the circumstances under which a licensee may be held liable.
    • Understand how the licensee’s duties apply to the four different agency positions.
    • Be able to compare and contrast the different forms of listing agreements.
    • Understand buyer representation agreements.
    • Be familiar with the specific issues of an intermediary relationship.
    • Know how agency relationships are created and terminated.
    • Be able to list the guidelines for compensation eligibility.
    • Understand the concept of the procuring cause.
    • Know the impact gratuitous agency upon agency relationships.
    • Understand how antitrust laws affect compensation and commissions.
    • List the differences between employees and independent contractors.
    • Know the anti – discrimination laws.
    • Know what tasks unlicensed assistant can perform.

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Agency relationships are the foundation of most real estate transactions. The relationship between a licensee and his or her client is considered a fiduciary relationship, meaning that the client places trust in the licensee to fulfill certain duties towards the client. A broker or licensee can act as a seller’s agent, a buyer’s agent, a subagent or an intermediary, and each of these four types of agency relationships has its own set of guidelines, as well its own ethical issues. Licensees who understand both the basics of agency law as well as the specific laws of agency in the state of Texas will be able to serve their clients and customers to the best of their abilities and avoid litigation.

    The beginning of this course covers the basics of agency law in general, including the brief history of real estate agency, the definition of agency, the parties involved in the relationship, the types and degrees of authority and the role of agency in real estate. Then, the course covers all relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission. In addition, the student will learn about the creation and termination of agency relationships, the rules for agency disclosure, the duties required of agents, the agent’s liability, the Texas Deceptive Trade Practices Act, and the different types of agency agreements. The last two lessons in the course discuss the rules about commissions, antitrust laws and employment law in Texas.

    As the student completes this module, he or she should attempt to fit the information in with the big picture of the real estate profession. The conclusion of the module will assist in drawing the information together by presenting real world practice, comprehension questions and case studies for the student’s consideration.

    LEARNING OBJECTIVES

    Upon completion of this module, the student will be able to.

    • Have learned about the history of real estate and the role of agency in the real estate profession.
    • Understand the role of the agent, the principal and the third party in the agency relationship.
    • Know the different types of authority.
    • Know the differences between the universal, general and the special agent.
    • Have read the relevant sections of the Texas Real Estate License Act and the Rules of the Texas Real Estate Commission.
    • Understand the rules for disclosure of agency relationships and agency law.
    • Know the duties that an agent owes the principal and the third party.
    • Understand tort liability.
    • Know the circumstances under which a licensee may be held liable.
    • Understand how the licensee’s duties apply to the four different agency positions.
    • Be able to compare and contrast the different forms of listing agreements.
    • Understand buyer representation agreements.
    • Be familiar with the specific issues of an intermediary relationship.
    • Know how agency relationships are created and terminated.
    • Be able to list the guidelines for compensation eligibility.
    • Understand the concept of the procuring cause.
    • Know the impact gratuitous agency upon agency relationships.
    • Understand how antitrust laws affect compensation and commissions.
    • List the differences between employees and independent contractors.
    • Know the anti – discrimination laws.
    • Know what tasks unlicensed assistant can perform.

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    This course provides an introduction to the basics of real estate financing, from qualifying the borrower and qualifying the property in the underwriting process, to the various types of financing available, to closing the sale. The course begins with a review of the basic mathematical concepts and calculations that will be necessary to understand the material. We then progress into a discussion of the forces that control the market: supply, demand, and the government. This leads us into the third lesson.

    Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Lenders run risks in making real estate loans and for this reason they must have a firm grasp of a borrower’s financial qualifications. They consider a borrower’s income, credit, debt, source of funds, and net worth. But no analysis, no matter how thorough, of a borrower’s creditworthiness can be enough to make a loan free of risk.

    The fourth lesson of this module is concerned with how the lender qualifies loan applicants; the fifth is concerned with how the lender qualifies the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth, so that the student will feel confident and familiar with them when he or she meets them in the real world.

    The basics of the financing and sale process are discussed in lessons six and seven. The student will learn how title, the abstract ownership rights to the property, is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits. In lesson seven, the focus turns to closing. The student will learn the customary costs involved in a real estate transaction; how certain items are prorated between the buyer and the seller; and the requirements set forth by the Real Estate Settlement and Procedures Act (RESPA).

    Lesson eight discusses foreclosure. It considers what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed, sold at auction, and the creditors repaid.

    The module continues with the types of mortgages available. The ninth and tenth lessons discuss the elements of conventional loans-both conforming and nonconforming-adjustable rate, graduated payment, growth equity, and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized, so that the student may better understand the decision making process inherent in real estate finance.

    Two specific types of financing, FHA – insured and VA – guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry an uncancelable monthly insurance premium. VA loans are guaranteed in part by the government, but are only available to veterans, active servicemen, and certain national guardspersons and special reservists.

    The thirteenth lesson deals with a topic important to real estate investment, IRC Section 1031 exchanges. Buying and selling real estate investments can be a tax – heavy business. By “exchanging” one’s investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

    At the end of each lesson, the student will be asked to complete a quiz that tests the information covered in that lesson in order to move on to the next lesson. The module ends with a real world practice lesson that brings together the concepts and material discussed throughout the entire module.

    Learning Objectives

    Upon completion of this module, the student will.

    • Be able to perform all the necessary mathematical calculations for real estate finance
    • Understand how the forces of supply and demand in the real estate market affect and re affected by the primary lending market
    • Know how the government influences real estate finance through agencies like the Federal Reserve and the Department of Housing and Urban Development
    • Be familiar with Real Estate Investment Trusts (REITs)
    • Understand the basic concepts of real estate finance
    • Know the principal instruments of financing-the promissory note, the mortgage, and the deed of trust-and how they are used
    • Understand how interest rates affect the real estate market
    • Know who lends money to the purchasers of real estate
    • Be familiar with the operations of the secondary market for loans
    • Know how to calculate a fully amortized, fixed – rate loan’s monthly payments
    • Be familiar with the tax deductions and credits associated with real estate ownership
    • Know the use of and legal requirements placed on escrow accounts
    • Know the difference between lien theory and title theory states
    • Know what a discount point is; when it is offered; and when it should be bought
    • Be familiar with what an underwriter looks for in approving a loan
    • Be familiar with the elements of a credit report and how FICO® scores affect a consumer’s borrowing ability
    • Be familiar with the provisions of the federal legislation that affects real estate lending: the Fair Credit Reporting Act, the Equal Credit Opportunity Act, and the Truth in Lending Act
    • Know the use and the method of calculation of a lender’s qualifying income ratios
    • Be familiar with the classification of types of debts
    • Be familiar with the steps in the appraisal process
    • Be familiar with the principal methods of property valuation
    • Know how to use the sales comparison approach and the cost approach to value real property
    • Be able to use the most common approach to valuing income – producing property, the cap rate analysis
    • Know the elements of a pro forma projection and its uses in discounted cash flow analyses
    • Know how to use spreadsheet and investment software to calculate net present values and internal rates of return
    • Understand the role of mortgage brokers and loan officers in the financing process
    • Know the difference between constructive and actual notice and the buyer’s obligations under the principle of caveat emptor
    • Be familiar with the lender’s requirements for qualifying the title and how a title insurance company verifies that a mortgagee will have the first lien through a title search.
    • Know the purpose and content of an earnest money contract and the earnest money deposit
    • Know what a deed is and the types of interest it can convey
    • Be familiar with the exceptions and reservations that can be placed on a title
    • Be familiar with the RESPA requirements for closing procedures and disclosures at closing
    • Know the basic organization of face – to – face and escrow closings: who presides over them and how transactions are conducted
    • Know the principles of proration: calendar years and banker’s years, prepaid items, accrued items, and how to divide them by calculating a daily rate
    • Know the current Fannie Mae and Freddie Mac loan limits
    • Understand private mortgage insurance: when it is required; when it is advisable; and when it is cancelable
    • Be familiar with Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector electronic underwriting programs
    • Know the requirements for a borrower’s financial qualifications in a conforming loan
    • Be familiar with the different types of mortgages, such as ARMs, GEMs, GPMs, and Balloon Mortgages
    • Understand the use and purpose of temporary and permanent buydowns
    • Be familiar with the most important FHA programs, especially Section 203(b)
    • Know the various underwriting requirements for FHA – insured loans, such as down payment and closing cost requirements
    • Understand the FHA’s mortgage insurance premium (MIP) and how it is different from PMI
    • Be familiar with the key elements of the VA loan guarantee program
    • Know who is eligible for the VA program and the documents required to prove one’s eligibility
    • Know the current amount of a veteran’s maximum entitlement and how to calculate remaining entitlement
    • Understand the purpose of IRC Section 1031
    • Know the definition of like kind and what property qualifies for a like kind exchange
    • Be able to calculate an investor’s adjusted basis in a property
    • Understand the difference between realized and recognized gain and how it is important to the tax laws
    • Know what boot is and how it is calculated
    • Be familiar with the delayed (Starker) exchange format-the 45/180 – day time limits and the rules for replacement property identification
    • Know how an investor can leverage saved capital from tax deferred exchanges
    • Understand the role of the Qualified Intermediary (QI) in the delayed exchange as a safe harbor
    • Be familiar with the reverse exchange format-the exchange accommodation titleholder (EAT), title parking, and allowable arrangements between the exchanger and the EAT
    • Know the tax benefits of installment sales

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    This course provides an introduction to the basics of real estate financing, from qualifying the borrower and qualifying the property in the underwriting process, to the various types of financing available, to closing the sale. The course begins with a review of the basic mathematical concepts and calculations that will be necessary to understand the material. We then progress into a discussion of the forces that control the market: supply, demand, and the government. This leads us into the third lesson.

    Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Lenders run risks in making real estate loans and for this reason they must have a firm grasp of a borrower’s financial qualifications. They consider a borrower’s income, credit, debt, source of funds, and net worth. But no analysis, no matter how thorough, of a borrower’s creditworthiness can be enough to make a loan free of risk.

    The fourth lesson of this module is concerned with how the lender qualifies loan applicants; the fifth is concerned with how the lender qualifies the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth, so that the student will feel confident and familiar with them when he or she meets them in the real world.

    The basics of the financing and sale process are discussed in lessons six and seven. The student will learn how title, the abstract ownership rights to the property, is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits. In lesson seven, the focus turns to closing. The student will learn the customary costs involved in a real estate transaction; how certain items are prorated between the buyer and the seller; and the requirements set forth by the Real Estate Settlement and Procedures Act (RESPA).

    Lesson eight discusses foreclosure. It considers what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed, sold at auction, and the creditors repaid.

    The module continues with the types of mortgages available. The ninth and tenth lessons discuss the elements of conventional loans-both conforming and nonconforming-adjustable rate, graduated payment, growth equity, and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized, so that the student may better understand the decision making process inherent in real estate finance.

    Two specific types of financing, FHA – insured and VA – guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry an uncancelable monthly insurance premium. VA loans are guaranteed in part by the government, but are only available to veterans, active servicemen, and certain national guardspersons and special reservists.

    The thirteenth lesson deals with a topic important to real estate investment, IRC Section 1031 exchanges. Buying and selling real estate investments can be a tax – heavy business. By “exchanging” one’s investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

    At the end of each lesson, the student will be asked to complete a quiz that tests the information covered in that lesson in order to move on to the next lesson. The module ends with a real world practice lesson that brings together the concepts and material discussed throughout the entire module.

    Learning Objectives

    Upon completion of this module, the student will.

    • Be able to perform all the necessary mathematical calculations for real estate finance
    • Understand how the forces of supply and demand in the real estate market affect and re affected by the primary lending market
    • Know how the government influences real estate finance through agencies like the Federal Reserve and the Department of Housing and Urban Development
    • Be familiar with Real Estate Investment Trusts (REITs)
    • Understand the basic concepts of real estate finance
    • Know the principal instruments of financing-the promissory note, the mortgage, and the deed of trust-and how they are used
    • Understand how interest rates affect the real estate market
    • Know who lends money to the purchasers of real estate
    • Be familiar with the operations of the secondary market for loans
    • Know how to calculate a fully amortized, fixed – rate loan’s monthly payments
    • Be familiar with the tax deductions and credits associated with real estate ownership
    • Know the use of and legal requirements placed on escrow accounts
    • Know the difference between lien theory and title theory states
    • Know what a discount point is; when it is offered; and when it should be bought
    • Be familiar with what an underwriter looks for in approving a loan
    • Be familiar with the elements of a credit report and how FICO® scores affect a consumer’s borrowing ability
    • Be familiar with the provisions of the federal legislation that affects real estate lending: the Fair Credit Reporting Act, the Equal Credit Opportunity Act, and the Truth in Lending Act
    • Know the use and the method of calculation of a lender’s qualifying income ratios
    • Be familiar with the classification of types of debts
    • Be familiar with the steps in the appraisal process
    • Be familiar with the principal methods of property valuation
    • Know how to use the sales comparison approach and the cost approach to value real property
    • Be able to use the most common approach to valuing income – producing property, the cap rate analysis
    • Know the elements of a pro forma projection and its uses in discounted cash flow analyses
    • Know how to use spreadsheet and investment software to calculate net present values and internal rates of return
    • Understand the role of mortgage brokers and loan officers in the financing process
    • Know the difference between constructive and actual notice and the buyer’s obligations under the principle of caveat emptor
    • Be familiar with the lender’s requirements for qualifying the title and how a title insurance company verifies that a mortgagee will have the first lien through a title search.
    • Know the purpose and content of an earnest money contract and the earnest money deposit
    • Know what a deed is and the types of interest it can convey
    • Be familiar with the exceptions and reservations that can be placed on a title
    • Be familiar with the RESPA requirements for closing procedures and disclosures at closing
    • Know the basic organization of face – to – face and escrow closings: who presides over them and how transactions are conducted
    • Know the principles of proration: calendar years and banker’s years, prepaid items, accrued items, and how to divide them by calculating a daily rate
    • Know the current Fannie Mae and Freddie Mac loan limits
    • Understand private mortgage insurance: when it is required; when it is advisable; and when it is cancelable
    • Be familiar with Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector electronic underwriting programs
    • Know the requirements for a borrower’s financial qualifications in a conforming loan
    • Be familiar with the different types of mortgages, such as ARMs, GEMs, GPMs, and Balloon Mortgages
    • Understand the use and purpose of temporary and permanent buydowns
    • Be familiar with the most important FHA programs, especially Section 203(b)
    • Know the various underwriting requirements for FHA – insured loans, such as down payment and closing cost requirements
    • Understand the FHA’s mortgage insurance premium (MIP) and how it is different from PMI
    • Be familiar with the key elements of the VA loan guarantee program
    • Know who is eligible for the VA program and the documents required to prove one’s eligibility
    • Know the current amount of a veteran’s maximum entitlement and how to calculate remaining entitlement
    • Understand the purpose of IRC Section 1031
    • Know the definition of like kind and what property qualifies for a like kind exchange
    • Be able to calculate an investor’s adjusted basis in a property
    • Understand the difference between realized and recognized gain and how it is important to the tax laws
    • Know what boot is and how it is calculated
    • Be familiar with the delayed (Starker) exchange format-the 45/180 – day time limits and the rules for replacement property identification
    • Know how an investor can leverage saved capital from tax deferred exchanges
    • Understand the role of the Qualified Intermediary (QI) in the delayed exchange as a safe harbor
    • Be familiar with the reverse exchange format-the exchange accommodation titleholder (EAT), title parking, and allowable arrangements between the exchanger and the EAT
    • Know the tax benefits of installment sales

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Package Description

    This package contains the following courses.

    • (0411)Law of Agency Book
    • (0111 & 0112)Principles I & II Book
    • (0321)Finance I Book
    • (1200)Law of Contracts Book
    • (0321)Promulgated Contracts Book
    • Texas Salesperson Exam Prep
    • Specialized Real Estate Marketing Book
    • Math Mastery Book
    • Using the Internet to Serve Clients Book
    180 $549

    Package Description

    This package contains the following courses.

    • (0411)Law of Agency Book
    • (0111 & 0112)Principles I & II Book
    • (0321)Finance I Book
    • (1200)Law of Contracts Book
    • (0321)Promulgated Contracts Book
    • Texas Salesperson Exam Prep
    • Specialized Real Estate Marketing Book
    180 $519

    180 HR BASIC PRE – LICENSING BOOK Package contain following topics.

    (0111 & 0112)Texas Principles I & II Book

    (0321)Promulgated Contracts Book

    (0321)Texas: Real Estate Finance Book

    (0411)Law of Agency Book

    (1200)Law of Contracts Book.

    180 $468

    Course Description

    This course provides an introduction to the basics of real estate financing, from qualifying the borrower and qualifying the property in the underwriting process, to the various types of financing available, to closing the sale. The course begins with a review of the basic mathematical concepts and calculations that will be necessary to understand the material. We then progress into a discussion of the forces that control the market: supply, demand, and the government. This leads us into the third lesson.

    Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Lenders run risks in making real estate loans and for this reason they must have a firm grasp of a borrower’s financial qualifications. They consider a borrower’s income, credit, debt, source of funds, and net worth. But no analysis, no matter how thorough, of a borrower’s creditworthiness can be enough to make a loan free of risk.

    The fourth lesson of this module is concerned with how the lender qualifies loan applicants; the fifth is concerned with how the lender qualifies the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth, so that the student will feel confident and familiar with them when he or she meets them in the real world.

    The basics of the financing and sale process are discussed in lessons six and seven. The student will learn how title, the abstract ownership rights to the property, is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits. In lesson seven, the focus turns to closing. The student will learn the customary costs involved in a real estate transaction; how certain items are prorated between the buyer and the seller; and the requirements set forth by the Real Estate Settlement and Procedures Act (RESPA).

    Lesson eight discusses foreclosure. It considers what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed, sold at auction, and the creditors repaid.

    The module continues with the types of mortgages available. The ninth and tenth lessons discuss the elements of conventional loans-both conforming and nonconforming-adjustable rate, graduated payment, growth equity, and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized, so that the student may better understand the decision making process inherent in real estate finance.

    Two specific types of financing, FHA – insured and VA – guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry an uncancelable monthly insurance premium. VA loans are guaranteed in part by the government, but are only available to veterans, active servicemen, and certain national guardspersons and special reservists.

    The thirteenth lesson deals with a topic important to real estate investment, IRC Section 1031 exchanges. Buying and selling real estate investments can be a tax – heavy business. By “exchanging” one’s investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

    At the end of each lesson, the student will be asked to complete a quiz that tests the information covered in that lesson in order to move on to the next lesson. The module ends with a real world practice lesson that brings together the concepts and material discussed throughout the entire module.

    Learning Objectives

    Upon completion of this module, the student will.

    • Be able to perform all the necessary mathematical calculations for real estate finance
    • Understand how the forces of supply and demand in the real estate market affect and re affected by the primary lending market
    • Know how the government influences real estate finance through agencies like the Federal Reserve and the Department of Housing and Urban Development
    • Be familiar with Real Estate Investment Trusts (REITs)
    • Understand the basic concepts of real estate finance
    • Know the principal instruments of financing-the promissory note, the mortgage, and the deed of trust-and how they are used
    • Understand how interest rates affect the real estate market
    • Know who lends money to the purchasers of real estate
    • Be familiar with the operations of the secondary market for loans
    • Know how to calculate a fully amortized, fixed – rate loan’s monthly payments
    • Be familiar with the tax deductions and credits associated with real estate ownership
    • Know the use of and legal requirements placed on escrow accounts
    • Know the difference between lien theory and title theory states
    • Know what a discount point is; when it is offered; and when it should be bought
    • Be familiar with what an underwriter looks for in approving a loan
    • Be familiar with the elements of a credit report and how FICO® scores affect a consumer’s borrowing ability
    • Be familiar with the provisions of the federal legislation that affects real estate lending: the Fair Credit Reporting Act, the Equal Credit Opportunity Act, and the Truth in Lending Act
    • Know the use and the method of calculation of a lender’s qualifying income ratios
    • Be familiar with the classification of types of debts
    • Be familiar with the steps in the appraisal process
    • Be familiar with the principal methods of property valuation
    • Know how to use the sales comparison approach and the cost approach to value real property
    • Be able to use the most common approach to valuing income – producing property, the cap rate analysis
    • Know the elements of a pro forma projection and its uses in discounted cash flow analyses
    • Know how to use spreadsheet and investment software to calculate net present values and internal rates of return
    • Understand the role of mortgage brokers and loan officers in the financing process
    • Know the difference between constructive and actual notice and the buyer’s obligations under the principle of caveat emptor
    • Be familiar with the lender’s requirements for qualifying the title and how a title insurance company verifies that a mortgagee will have the first lien through a title search.
    • Know the purpose and content of an earnest money contract and the earnest money deposit
    • Know what a deed is and the types of interest it can convey
    • Be familiar with the exceptions and reservations that can be placed on a title
    • Be familiar with the RESPA requirements for closing procedures and disclosures at closing
    • Know the basic organization of face – to – face and escrow closings: who presides over them and how transactions are conducted
    • Know the principles of proration: calendar years and banker’s years, prepaid items, accrued items, and how to divide them by calculating a daily rate
    • Know the current Fannie Mae and Freddie Mac loan limits
    • Understand private mortgage insurance: when it is required; when it is advisable; and when it is cancelable
    • Be familiar with Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector electronic underwriting programs
    • Know the requirements for a borrower’s financial qualifications in a conforming loan
    • Be familiar with the different types of mortgages, such as ARMs, GEMs, GPMs, and Balloon Mortgages
    • Understand the use and purpose of temporary and permanent buydowns
    • Be familiar with the most important FHA programs, especially Section 203(b)
    • Know the various underwriting requirements for FHA – insured loans, such as down payment and closing cost requirements
    • Understand the FHA’s mortgage insurance premium (MIP) and how it is different from PMI
    • Be familiar with the key elements of the VA loan guarantee program
    • Know who is eligible for the VA program and the documents required to prove one’s eligibility
    • Know the current amount of a veteran’s maximum entitlement and how to calculate remaining entitlement
    • Understand the purpose of IRC Section 1031
    • Know the definition of like kind and what property qualifies for a like kind exchange
    • Be able to calculate an investor’s adjusted basis in a property
    • Understand the difference between realized and recognized gain and how it is important to the tax laws
    • Know what boot is and how it is calculated
    • Be familiar with the delayed (Starker) exchange format-the 45/180 – day time limits and the rules for replacement property identification
    • Know how an investor can leverage saved capital from tax deferred exchanges
    • Understand the role of the Qualified Intermediary (QI) in the delayed exchange as a safe harbor
    • Be familiar with the reverse exchange format-the exchange accommodation titleholder (EAT), title parking, and allowable arrangements between the exchanger and the EAT
    • Know the tax benefits of installment sales

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    This course provides an introduction to the basics of real estate financing, from qualifying the borrower and qualifying the property in the underwriting process, to the various types of financing available, to closing the sale. The course begins with a review of the basic mathematical concepts and calculations that will be necessary to understand the material. We then progress into a discussion of the forces that control the market: supply, demand, and the government. This leads us into the third lesson.

    Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Lenders run risks in making real estate loans and for this reason they must have a firm grasp of a borrower’s financial qualifications. They consider a borrower’s income, credit, debt, source of funds, and net worth. But no analysis, no matter how thorough, of a borrower’s creditworthiness can be enough to make a loan free of risk.

    The fourth lesson of this module is concerned with how the lender qualifies loan applicants; the fifth is concerned with how the lender qualifies the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth, so that the student will feel confident and familiar with them when he or she meets them in the real world.

    The basics of the financing and sale process are discussed in lessons six and seven. The student will learn how title, the abstract ownership rights to the property, is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits. In lesson seven, the focus turns to closing. The student will learn the customary costs involved in a real estate transaction; how certain items are prorated between the buyer and the seller; and the requirements set forth by the Real Estate Settlement and Procedures Act (RESPA).

    Lesson eight discusses foreclosure. It considers what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed, sold at auction, and the creditors repaid.

    The module continues with the types of mortgages available. The ninth and tenth lessons discuss the elements of conventional loans-both conforming and nonconforming-adjustable rate, graduated payment, growth equity, and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized, so that the student may better understand the decision making process inherent in real estate finance.

    Two specific types of financing, FHA – insured and VA – guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry an uncancelable monthly insurance premium. VA loans are guaranteed in part by the government, but are only available to veterans, active servicemen, and certain national guardspersons and special reservists.

    The thirteenth lesson deals with a topic important to real estate investment, IRC Section 1031 exchanges. Buying and selling real estate investments can be a tax – heavy business. By “exchanging” one’s investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

    At the end of each lesson, the student will be asked to complete a quiz that tests the information covered in that lesson in order to move on to the next lesson. The module ends with a real world practice lesson that brings together the concepts and material discussed throughout the entire module.

    Learning Objectives

    Upon completion of this module, the student will.

    • Be able to perform all the necessary mathematical calculations for real estate finance
    • Understand how the forces of supply and demand in the real estate market affect and re affected by the primary lending market
    • Know how the government influences real estate finance through agencies like the Federal Reserve and the Department of Housing and Urban Development
    • Be familiar with Real Estate Investment Trusts (REITs)
    • Understand the basic concepts of real estate finance
    • Know the principal instruments of financing-the promissory note, the mortgage, and the deed of trust-and how they are used
    • Understand how interest rates affect the real estate market
    • Know who lends money to the purchasers of real estate
    • Be familiar with the operations of the secondary market for loans
    • Know how to calculate a fully amortized, fixed – rate loan’s monthly payments
    • Be familiar with the tax deductions and credits associated with real estate ownership
    • Know the use of and legal requirements placed on escrow accounts
    • Know the difference between lien theory and title theory states
    • Know what a discount point is; when it is offered; and when it should be bought
    • Be familiar with what an underwriter looks for in approving a loan
    • Be familiar with the elements of a credit report and how FICO® scores affect a consumer’s borrowing ability
    • Be familiar with the provisions of the federal legislation that affects real estate lending: the Fair Credit Reporting Act, the Equal Credit Opportunity Act, and the Truth in Lending Act
    • Know the use and the method of calculation of a lender’s qualifying income ratios
    • Be familiar with the classification of types of debts
    • Be familiar with the steps in the appraisal process
    • Be familiar with the principal methods of property valuation
    • Know how to use the sales comparison approach and the cost approach to value real property
    • Be able to use the most common approach to valuing income – producing property, the cap rate analysis
    • Know the elements of a pro forma projection and its uses in discounted cash flow analyses
    • Know how to use spreadsheet and investment software to calculate net present values and internal rates of return
    • Understand the role of mortgage brokers and loan officers in the financing process
    • Know the difference between constructive and actual notice and the buyer’s obligations under the principle of caveat emptor
    • Be familiar with the lender’s requirements for qualifying the title and how a title insurance company verifies that a mortgagee will have the first lien through a title search.
    • Know the purpose and content of an earnest money contract and the earnest money deposit
    • Know what a deed is and the types of interest it can convey
    • Be familiar with the exceptions and reservations that can be placed on a title
    • Be familiar with the RESPA requirements for closing procedures and disclosures at closing
    • Know the basic organization of face – to – face and escrow closings: who presides over them and how transactions are conducted
    • Know the principles of proration: calendar years and banker’s years, prepaid items, accrued items, and how to divide them by calculating a daily rate
    • Know the current Fannie Mae and Freddie Mac loan limits
    • Understand private mortgage insurance: when it is required; when it is advisable; and when it is cancelable
    • Be familiar with Fannie Mae’s Desktop Underwriter and Freddie Mac’s Loan Prospector electronic underwriting programs
    • Know the requirements for a borrower’s financial qualifications in a conforming loan
    • Be familiar with the different types of mortgages, such as ARMs, GEMs, GPMs, and Balloon Mortgages
    • Understand the use and purpose of temporary and permanent buydowns
    • Be familiar with the most important FHA programs, especially Section 203(b)
    • Know the various underwriting requirements for FHA – insured loans, such as down payment and closing cost requirements
    • Understand the FHA’s mortgage insurance premium (MIP) and how it is different from PMI
    • Be familiar with the key elements of the VA loan guarantee program
    • Know who is eligible for the VA program and the documents required to prove one’s eligibility
    • Know the current amount of a veteran’s maximum entitlement and how to calculate remaining entitlement
    • Understand the purpose of IRC Section 1031
    • Know the definition of like kind and what property qualifies for a like kind exchange
    • Be able to calculate an investor’s adjusted basis in a property
    • Understand the difference between realized and recognized gain and how it is important to the tax laws
    • Know what boot is and how it is calculated
    • Be familiar with the delayed (Starker) exchange format-the 45/180 – day time limits and the rules for replacement property identification
    • Know how an investor can leverage saved capital from tax deferred exchanges
    • Understand the role of the Qualified Intermediary (QI) in the delayed exchange as a safe harbor
    • Be familiar with the reverse exchange format-the exchange accommodation titleholder (EAT), title parking, and allowable arrangements between the exchanger and the EAT
    • Know the tax benefits of installment sales

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Welcome to the Texas Pre – License Real Estate Law Course. This course will cover the key laws and legal concepts that apply to the field of real estate, including contracts, deeds, fair housing, foreclosures, land titles and records, leases, and real property rights and land use. Additionally, the course will cover the Real Estate Settlement and Procedures Act, a federal law that regulates the closing and settlement of real estate sales, and various Texas statutes and laws that affect real estate practice, including Texas constitutional and statutory homestead protections, the Texas Deceptive Trade Practices Act, and the Texas statute that provides remedies for fraud in real estate and stock transactions.

    Topics to be Included in Course:

    A. Legal Concepts of Real Estate
    B. Land Description
    C .Real Property Rights and Estates in Land
    D. Contracts
    E. Conveyance
    F. Encumbrance
    G. Foreclosures
    H. Recording Procedures
    I. Evidence of Titles.

    30 $128

    Course Description

    Welcome to the Texas Pre – License Real Estate Law Course. This course will cover the key laws and legal concepts that apply to the field of real estate, including contracts, deeds, fair housing, foreclosures, land titles and records, leases, and real property rights and land use. Additionally, the course will cover the Real Estate Settlement and Procedures Act, a federal law that regulates the closing and settlement of real estate sales, and various Texas statutes and laws that affect real estate practice, including Texas constitutional and statutory homestead protections, the Texas Deceptive Trade Practices Act, and the Texas statute that provides remedies for fraud in real estate and stock transactions.

    Topics to be Included in Course:

    A. Legal Concepts of Real Estate
    B. Land Description
    C .Real Property Rights and Estates in Land
    D. Contracts
    E. Conveyance
    F. Encumbrance
    G. Foreclosures
    H. Recording Procedures
    I. Evidence of Titles.

    30 $128

    Course Description

    The Real Estate Brokerage: A Guide to Success is directed toward anyone who is or would like to become a real estate manager, real estate broker, or real estate business owner. The principal difference among these positions is the degree of authority and ownership in the organization. This book focuses in particular on the future of brokerage education by identifying and describing emerging elements and examples of the way real estate brokerage is conducted in today’s marketplace. The book is divided into fifteen chapters, each having an introduction that explains the content of each chapter, a body that explains how to operate and manage a real estate brokerage business, and a conclusion with questions to test the reader’s comprehension and understanding.

    Learning Objectives and Topics Covered

    Chapter One – The Real Estate Industry.

    • Recall the trends in the industry and the outlook for the future
    • Understand the different real estate brokerage regulations and laws with special emphasis on the law of agency
    • Distinguish between ethical behavior and non – ethical behavior
    • Be more informed on the concepts of ethics and how they apply to their personal life as well as their business life

    Chapter Two – The Real Estate Broker/Owner.

    • Identify the characteristics that make successful real estate brokers and owners
    • Determine the ability to broker through the questions given in the chapter
    • List the requirements of becoming a broker
    • Learn about the reasons why brokers fail and be able to identify ways to avoid the same mistakes.
    • Catalog the different approaches to management
    • Record the main activities of a broker

    Chapter Three – The Real Estate Brokerage Office.

    • Choose the best office type for a particular brokerage and the advantages/disadvantages of each
    • Distinguish the aspects of buying versus renting a business location
    • Evaluate a real estate brokerage business Recognize the best office layout for any real estate brokerage business
    • Evaluate the equipment needed in a real estate office and choose the appropriate machines

    Chapter Four – Real Estate Brokerage Operations.

    • Distinguish between a “burnout” and a “slump” and how to avoid both
    • Identify the many operations of a real estate brokerage company
    • Analyze the costs and the questions that should be asked before any obligation of the brokerage company

    Chapter Five – Real Estate Brokerage Marketing.

    • Discover ways to market a real estate brokerage business
    • Learn of the many opportunities to come in contact with possible clients and how to convert them into recruits for them
    • Design a marketing plan complete with marketing strategies, marketing budget and a marketing campaign.
    • Distinguish a well written ad from an ad that will be a waste of money

    Chapter Six – Real Estate Compensation Structures.

    • Evaluate compensation structures that benefit the real estate salesperson and the real estate broker
    • Distinguish between compensation structure variables and elaborate on the features
    • Know when a broker should offer a bonus or when the broker should withhold a bonus

    Chapter Seven – Real Estate Brokerage Staff Relations.

    • Identify the varying employment laws that affect the real estate industry and how to manage those laws
    • Know the types of managers in real estate
    • Design a “Management Development Program” and implement that program
    • Examine and compare the types of salespeople in real estate and look at the “Perfect Office”

    Chapter Eight – Recruiting Real Estate Salespeople.

    • Design a recruiting plan for a real estate company
    • Identify the actions a broker can take to recruit real estate salespeople
    • Conduct a recruiting interview and list the steps that interview should follow
    • Itemize the steps in the handling of objections and place those steps in the proper order
    • Practice the closing techniques and the best ones to use in any situation

    Chapter Nine – Retention of Real Estate Salespeople.

    • Effectively learn to retain real estate salespeople for an office
    • Create events that will help the real estate company retain their salespeople
    • Recognize the importance of training and the value a real estate salesperson places on training.

    Chapter Ten – Real Estate Business Development.

    • Set – up a “Relocation Mind – Set”
    • Understand how the relocation and business development business work in the real estate industry
    • Understand marketing strategies, how to write an effective real estate “Relocation Package” and the meeting of Personnel Directors
    • List the different ways to seek and find relocation business
    • Conduct a Relocation Presentation to the relocation professional

    Chapter Eleven – Real Estate Business Planning.

    • Create a business plan for a real estate company
    • Identify the differences between sales and marketing
    • Identify and adapt to the current real estate market
    • Design a real estate company with a wide variety of variations
    • Describe the real estate business, the current and future competition and finish with financial records and statements

    Chapter Twelve -Real Estate Business Development.

    • Learn about relocation and referral business
    • Describe the arrangement of a business development segment in a brokerage
    • Apply interviewing techniques and scripts to relocation and referral business

    Chapter Thirteen – Starting a Real Estate Business.

    • Identify the major characteristics of real estate brokers
    • List the change factors for a transition
    • Compare and contrast the similarities and differences between managers and leaders
    • Describe the development of a leader
    • Understand the complexities of operating a real estate company

    Chapter Fourteen – Financing a Real Estate Business.

    • Learn about the business loan process and what the lender is looking for
    • Recognize that the loan process only begins with the application
    • Find sources of alternative lenders
    • Be knowledgeable enough to obtain the financing needed to begin or expand operations as a real estate broker

    Chapter Fifteen – Starting a Real Estate Business.

    • Identify the major characteristics of real estate brokers
    • List the change factors for a transition
    • Compare and contrast the similarities and differences between managers and leaders
    • Describe the development of a leader
    • Understand the complexities of operating a real estate company

    15 Quizzes
    1 60Q Final Exam (2 exams but pass one).

    30 $128

    Course Description
    Texas Principles of Real Estate Part Two is a 30 hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles. TREC mandates that all real estate agents obtain a total of 60 hours of course work in the principles of real estate. For this reason, there is an additional, 30 hour, part of this course, Texas Principles of Real Estate Part One. While both courses work independently of the other, we suggest that for continuity and convenience, you take both parts together.

    Texas Principles of Real EstatePart Two contains the following modules.

    • Deeds
    • Titles and Records
    • Liens, Taxes, and Foreclosures
    • Listing Agreements
    • Closing and Settlement Costs
    • Real Estate Appraisal
    • Real Estate Finance
    • Real Estate Math

    Modules begin with an introduction, learning objectives, and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real – world situations; each module is followed by a final quiz. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

    Learning Objectives

    • List the general requirements of a legally enforceable contract.
    • Describe the difference between the concepts of “title” and “deed.”
    • Explain the basic use and purpose of deeds.
    • Identify the elements of a deed for voluntary land conveyance.
    • Recognize the different types of deeds and identify what type of deed should be used, depending on the quality of estate and condition of title to be transferred.
    • Describe the differences in the role of a real estate professional from the role of a licensed attorney.
    • Describe state – specific laws pertaining to title conveyance.
    • Outline the general steps involved in recording.
    • Distinguish between different types of public records.
    • Describe the difference between constructive and actual notice.
    • Explain the common methods of property conveyance.
    • Identify evidence of titles.
    • Explain title insurance and coverage.
    • Describe the different types of property ownership.
    • Differentiate between the various types of deeds.
    • Define the terms lien and tax lien and understand their operation.
    • Recognize the different types of liens and know how their priority is established.
    • Identify and describe types of non – tax liens.
    • Understand how ad valorem taxes and special assessments are levied.
    • Identify how homeowners and investors can save on federal income taxes and capital gains taxes through the use of tax shelters.
    • Describe and list different types of foreclosures.
    • Recognize alternatives to foreclosure and common scams related to foreclosure.
    • Identify the types of liens in Texas.
    • Determine tax exemptions in Texas.
    • Describe foreclosures in the state of Texas.
    • Describe the broker/owner relationship.
    • Outline the legal aspects of the broker/owner relationship and other responsibilities created by listing agreements.
    • Identify various types of listing agreements and explain the differences they make in a business relationship.
    • Explain the listing process and the basic marketing strategies needed to obtain listings.
    • Describe the basic concept of Comparative Market Analysis (CMA) and the process involved in preparing one.
    • State the basic content and form of a listing agreement.
    • Name other forms typically executed along with a listing agreement, including forms required by federal law and others required by most states.
    • Describe marketing strategies needed to obtain a buyer while maintaining customer loyalty.
    • Outline buyer and seller concerns that arise throughout the closing process.
    • Describe the buyer and the seller’s responsibilities to prepare for closing.
    • List the documents that the buyer and the seller must complete to close a typical real estate transaction.
    • Explain a licensee’s responsibility with respect to IRS Form 1099 – S and HUD’s “Notice to the Homebuyer” form.
    • Name and distinguish the different types of closings.
    • Describe the licensee’s role in the closing process.
    • Outline the basic requirements and regulations imposed by the Real Estate Settlement Procedures Act (RESPA).
    • Identify each party’s expense responsibility in a typical closing transaction.
    • Explain the concept of credit and the concept of debit.
    • Prorate prepaid items and accrued expenses.
    • Understand the HUD – 1 Settlement Statement Form
    • Determine the regulations regarding closing and settlement costs in Texas.
    • Identify the basic capacities and skills of a qualified appraiser.
    • Differentiate between appraisal licensure and certification.
    • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
    • Recognize the valuation principles used in real estate appraisal.
    • Apply value theories to arrive at purchase prices of real estate.
    • Characterize a favorable market for real estate sales.
    • Differentiate the three approaches to value commonly used in appraisal.
    • Follow the eight – step appraisal process to arrive at an accurate purchase price.
    • Analyze and interpret an appraisal report.
    • Understand the basic concepts and key terms of real estate financing.
    • Describe how to qualify a buyer for the most common types of loans.
    • Understand the use and function of escrow accounts.
    • Define private mortgage insurance.
    • Understand the process of underwriting its guidelines.
    • Identify the three most common types of loans: conventional, FHA, and VA.
    • Explain the advantages and disadvantages of conventional loans.
    • Distinguish how to use conventional qualifying ratios.
    • Identify the differing FHA qualification ratios.
    • State the advantages and disadvantages of FHA loans.
    • Explain the advantages and disadvantages of VA loans.
    • Describe VA eligibility and qualification periods.
    • Calculate the amount of VA entitlement used.
    • Calculate VA loan amounts and required down payments.
    • Explain the process and qualifications for assuming VA and FHA loans.
    • Identify other types of loans available.
    • Understand how to underwrite and close loans.
    • Name key terms used in real estate math problems.
    • Apply fractions, decimals and percentages.
    • Translate fractions into decimal and percentage forms.
    • Determine the area and volume of a given object or parcel.
    • Manipulate the principles involved in rate calculations.
    • Use equations to calculate interest.
    • Grasp the concept of amortization.
    • Comprehend the principles of prorating and how to apply them.
    • Understand and solve for appreciation and depreciation.
    • Identify and apply calculation formulas to determine value and profit.
    • Apply interest rates and loan discount rates.
    30 $128

    Course Description
    Texas Principles of Real Estate Part Two is a 30 hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles. TREC mandates that all real estate agents obtain a total of 60 hours of course work in the principles of real estate. For this reason, there is an additional, 30 hour, part of this course, Texas Principles of Real Estate Part One. While both courses work independently of the other, we suggest that for continuity and convenience, you take both parts together.

    Texas Principles of Real EstatePart Two contains the following modules.

    • Deeds
    • Titles and Records
    • Liens, Taxes, and Foreclosures
    • Listing Agreements
    • Closing and Settlement Costs
    • Real Estate Appraisal
    • Real Estate Finance
    • Real Estate Math

    Modules begin with an introduction, learning objectives, and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real – world situations; each module is followed by a final quiz. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

    Learning Objectives

    • List the general requirements of a legally enforceable contract.
    • Describe the difference between the concepts of “title” and “deed.”
    • Explain the basic use and purpose of deeds.
    • Identify the elements of a deed for voluntary land conveyance.
    • Recognize the different types of deeds and identify what type of deed should be used, depending on the quality of estate and condition of title to be transferred.
    • Describe the differences in the role of a real estate professional from the role of a licensed attorney.
    • Describe state – specific laws pertaining to title conveyance.
    • Outline the general steps involved in recording.
    • Distinguish between different types of public records.
    • Describe the difference between constructive and actual notice.
    • Explain the common methods of property conveyance.
    • Identify evidence of titles.
    • Explain title insurance and coverage.
    • Describe the different types of property ownership.
    • Differentiate between the various types of deeds.
    • Define the terms lien and tax lien and understand their operation.
    • Recognize the different types of liens and know how their priority is established.
    • Identify and describe types of non – tax liens.
    • Understand how ad valorem taxes and special assessments are levied.
    • Identify how homeowners and investors can save on federal income taxes and capital gains taxes through the use of tax shelters.
    • Describe and list different types of foreclosures.
    • Recognize alternatives to foreclosure and common scams related to foreclosure.
    • Identify the types of liens in Texas.
    • Determine tax exemptions in Texas.
    • Describe foreclosures in the state of Texas.
    • Describe the broker/owner relationship.
    • Outline the legal aspects of the broker/owner relationship and other responsibilities created by listing agreements.
    • Identify various types of listing agreements and explain the differences they make in a business relationship.
    • Explain the listing process and the basic marketing strategies needed to obtain listings.
    • Describe the basic concept of Comparative Market Analysis (CMA) and the process involved in preparing one.
    • State the basic content and form of a listing agreement.
    • Name other forms typically executed along with a listing agreement, including forms required by federal law and others required by most states.
    • Describe marketing strategies needed to obtain a buyer while maintaining customer loyalty.
    • Outline buyer and seller concerns that arise throughout the closing process.
    • Describe the buyer and the seller’s responsibilities to prepare for closing.
    • List the documents that the buyer and the seller must complete to close a typical real estate transaction.
    • Explain a licensee’s responsibility with respect to IRS Form 1099 – S and HUD’s “Notice to the Homebuyer” form.
    • Name and distinguish the different types of closings.
    • Describe the licensee’s role in the closing process.
    • Outline the basic requirements and regulations imposed by the Real Estate Settlement Procedures Act (RESPA).
    • Identify each party’s expense responsibility in a typical closing transaction.
    • Explain the concept of credit and the concept of debit.
    • Prorate prepaid items and accrued expenses.
    • Understand the HUD – 1 Settlement Statement Form
    • Determine the regulations regarding closing and settlement costs in Texas.
    • Identify the basic capacities and skills of a qualified appraiser.
    • Differentiate between appraisal licensure and certification.
    • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
    • Recognize the valuation principles used in real estate appraisal.
    • Apply value theories to arrive at purchase prices of real estate.
    • Characterize a favorable market for real estate sales.
    • Differentiate the three approaches to value commonly used in appraisal.
    • Follow the eight – step appraisal process to arrive at an accurate purchase price.
    • Analyze and interpret an appraisal report.
    • Understand the basic concepts and key terms of real estate financing.
    • Describe how to qualify a buyer for the most common types of loans.
    • Understand the use and function of escrow accounts.
    • Define private mortgage insurance.
    • Understand the process of underwriting its guidelines.
    • Identify the three most common types of loans: conventional, FHA, and VA.
    • Explain the advantages and disadvantages of conventional loans.
    • Distinguish how to use conventional qualifying ratios.
    • Identify the differing FHA qualification ratios.
    • State the advantages and disadvantages of FHA loans.
    • Explain the advantages and disadvantages of VA loans.
    • Describe VA eligibility and qualification periods.
    • Calculate the amount of VA entitlement used.
    • Calculate VA loan amounts and required down payments.
    • Explain the process and qualifications for assuming VA and FHA loans.
    • Identify other types of loans available.
    • Understand how to underwrite and close loans.
    • Name key terms used in real estate math problems.
    • Apply fractions, decimals and percentages.
    • Translate fractions into decimal and percentage forms.
    • Determine the area and volume of a given object or parcel.
    • Manipulate the principles involved in rate calculations.
    • Use equations to calculate interest.
    • Grasp the concept of amortization.
    • Comprehend the principles of prorating and how to apply them.
    • Understand and solve for appreciation and depreciation.
    • Identify and apply calculation formulas to determine value and profit.
    • Apply interest rates and loan discount rates.
    30 $128

    Course Description

    Course Number: (0111 & 0112).

    Texas Principles of Real Estate is a 60 – hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles.

    Texas Principles of Real Estate contains the following modules.

  • Texas License Law
  • Real Property Ownership and Land Use
  • Code of Ethics in Real Estate Practice
  • Fair Housing
  • Agency
  • Contracts, Purchase and Sale Agreements
  • Environmental Hazards
  • Deeds
  • Titles and Records
  • Liens, Taxes and Foreclosures
  • Listing Agreements
  • Closing and Settlement Costs
  • Real Estate Appraisal
  • Real Estate Finance
  • Real Estate Math
  • Modules begin with an introduction, learning objectives and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real – world situations; each module is followed by a final quiz. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

    REGULATORY REQUIREMENTS

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    COURSE COMPLETION

    Affidavits can be found by clicking the Help link in the navigation bar on the Course Catalog. The affidavit will also be available to print upon course completion.

    TESTING

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    ABOUT THE SUBJECT MATTER EXPERT

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    SUPPORT

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    60 $256

    Course Description

    Course Number: (0111 & 0112).

    Texas Principles of Real Estate is a 60 – hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. The course provides a comprehensive overview of real estate principles.

    Texas Principles of Real Estate contains the following modules.

  • Texas License Law
  • Real Property Ownership and Land Use
  • Code of Ethics in Real Estate Practice
  • Fair Housing
  • Agency
  • Contracts, Purchase and Sale Agreements
  • Environmental Hazards
  • Deeds
  • Titles and Records
  • Liens, Taxes and Foreclosures
  • Listing Agreements
  • Closing and Settlement Costs
  • Real Estate Appraisal
  • Real Estate Finance
  • Real Estate Math
  • Modules begin with an introduction, learning objectives and key terms. As students work through the course, they can keep the learning objectives in mind and refer to the key terms as necessary. The modules are divided into lessons, which are followed by quizzes to test student comprehension. Modules conclude with activities and case studies that allow students to apply the knowledge they have gained to real – world situations; each module is followed by a final quiz. The introductions, lesson summaries and module summaries are all available in a printable format for reference purposes.

    REGULATORY REQUIREMENTS

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    COURSE COMPLETION

    Affidavits can be found by clicking the Help link in the navigation bar on the Course Catalog. The affidavit will also be available to print upon course completion.

    TESTING

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    ABOUT THE SUBJECT MATTER EXPERT

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    SUPPORT

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    60 $256

    Course Description

    Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson’s job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

    There are five sections or modules to this course and their learning objectives are listed below.

    1. Effective Communication
      • Explain the difference between “artistic” and “inartistic” information and the order in which they should appear in a well – structured argument.
      • Define the three different approaches (ethos, pathos and logos) used to present persuasively artistic information.
      • Define “rhetoric” as the act of identifying and utilizing the means of persuasion available in a given situation.
      • Use and present effectively inartistic information, or data.
      • Present himself or herself as a respectable professional whom people will trust.
      • Produce and manage emotions in a negotiation session.
      • Utilize logic, emotion and the appearance of ethical character as persuasive tools.
      • Identify the common persuasive tools that other people may attempt to utilize.
    2. Emotional Intelligence
      • Describe the development of emotional intelligence.
      • Define emotional intelligence.
      • Explain the relationship between cognitive and emotional intelligence.
      • Develop his or her emotional intelligence.
      • Utilize emotionally intelligent strategies to encourage successful negotiation sessions.
      • Maintain a mutually beneficial mindset during negotiation sessions.
      • Handle real estate transactions better by acting in an emotionally intelligent manner.
    3. General Negotiations
      • Explain why conflict is a common event in human life, and be able to describe common responses to conflict.
      • Apply his understanding of conflict reactions to make judgments about which response is appropriate in a particular conflict.
      • Describe the central role of concessions and commitments in negotiation.
      • Discover and evaluate her best alternative to a negotiated agreement.
      • Know how to rank his alternatives in terms of preference, and be able to explain how these preferences determine the scope of negotiation.
      • Name and apply some basic strategies for evaluating the offers made during negotiation.
      • Recognize the basic considerations she must explore to prepare for negotiation.
      • Distinguish between the two common styles of negotiation, and make judgments about which style is appropriate for a particular conflict.
      • Outline the central strategies of these negotiation methods, as well as the demands each approach places on negotiators.
      • Spell out the purpose of high – pressure negotiating tactics, and give examples of both the tactics themselves and strategies for managing the high – pressure negotiator.
      • Apply his ethical standard in negotiations, and be able to explain why unethical behavior is a potential problem in negotiation.
      • State the common cognitive errors and psychological tendencies that are the primary pitfalls of the negotiation process, and give details about the problems these issues pose for negotiators.
    4. Reading People
      • Identify whether a person is lying, frustrated, happy, depressed, etc. from body language exhibited.
      • Distinguish between the different types of nonverbal communication.
      • Recognize behaviors in both familiar and unfamiliar acquaintances from verbal and nonverbal cues, including vocal traits, habits and physical traits.
      • Comprehend the motivations that keep people from seeing objectively.
      • Apply techniques to improve communication and aid understanding.
      • Discern aspects of personality from environmental context, including office, home, social and geographic environments.
      • Recognize hidden communications in conversation.
    5. Real Estate Negotiations
      • Describe the liability concerns facing all real estate salespeople, and outline how these affect the general negotiation process.
      • Explain the basic conflicts common to real estate negotiation.
      • Recognize general strategies that can help to minimize conflict in any negotiation.
      • Explain why alternatives are important in real estate negotiation.
      • Identify the problems created by deciding too much too early in the negotiation process, and the difficulties that result from adopting an overly competitive stance.
      • Apply a clear method for determining which issues present problems in a given negotiation, and rank them according to the amount of negotiation it will take to resolve them.
      • Describe the basic steps of successful communication.
      • Outline the basic steps and purpose of active listening.
      • Recognize the role that effective use of language plays in successful real estate negotiation.
      • Distinguish the needs, wants and desires of the parties involved in a real estate transaction.
      • State the way raw needs, wants and desires are translated into the benefits of a particular property.
      • Use benefits to build the framework of a mutually acceptable deal.
      • Identify and apply several general strategies for dealing with objections.
      • Recognize the signs of concealed objections.
      • Distinguish and explain general strategies that help a salesperson manage the offer – counter offer process effectively.
      • Determine what kind of preparatory strategies are needed before attempting to close a deal.
      • Describe three basic closing methods, and identify what features of a deal would make it appropriate to choose one particular method.
      • Recognize when and how it is appropriate to use the purchase agreement as a negotiation tool.

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson’s job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

    There are five sections or modules to this course and their learning objectives are listed below.

    1. Effective Communication
      • Explain the difference between “artistic” and “inartistic” information and the order in which they should appear in a well – structured argument.
      • Define the three different approaches (ethos, pathos and logos) used to present persuasively artistic information.
      • Define “rhetoric” as the act of identifying and utilizing the means of persuasion available in a given situation.
      • Use and present effectively inartistic information, or data.
      • Present himself or herself as a respectable professional whom people will trust.
      • Produce and manage emotions in a negotiation session.
      • Utilize logic, emotion and the appearance of ethical character as persuasive tools.
      • Identify the common persuasive tools that other people may attempt to utilize.
    2. Emotional Intelligence
      • Describe the development of emotional intelligence.
      • Define emotional intelligence.
      • Explain the relationship between cognitive and emotional intelligence.
      • Develop his or her emotional intelligence.
      • Utilize emotionally intelligent strategies to encourage successful negotiation sessions.
      • Maintain a mutually beneficial mindset during negotiation sessions.
      • Handle real estate transactions better by acting in an emotionally intelligent manner.
    3. General Negotiations
      • Explain why conflict is a common event in human life, and be able to describe common responses to conflict.
      • Apply his understanding of conflict reactions to make judgments about which response is appropriate in a particular conflict.
      • Describe the central role of concessions and commitments in negotiation.
      • Discover and evaluate her best alternative to a negotiated agreement.
      • Know how to rank his alternatives in terms of preference, and be able to explain how these preferences determine the scope of negotiation.
      • Name and apply some basic strategies for evaluating the offers made during negotiation.
      • Recognize the basic considerations she must explore to prepare for negotiation.
      • Distinguish between the two common styles of negotiation, and make judgments about which style is appropriate for a particular conflict.
      • Outline the central strategies of these negotiation methods, as well as the demands each approach places on negotiators.
      • Spell out the purpose of high – pressure negotiating tactics, and give examples of both the tactics themselves and strategies for managing the high – pressure negotiator.
      • Apply his ethical standard in negotiations, and be able to explain why unethical behavior is a potential problem in negotiation.
      • State the common cognitive errors and psychological tendencies that are the primary pitfalls of the negotiation process, and give details about the problems these issues pose for negotiators.
    4. Reading People
      • Identify whether a person is lying, frustrated, happy, depressed, etc. from body language exhibited.
      • Distinguish between the different types of nonverbal communication.
      • Recognize behaviors in both familiar and unfamiliar acquaintances from verbal and nonverbal cues, including vocal traits, habits and physical traits.
      • Comprehend the motivations that keep people from seeing objectively.
      • Apply techniques to improve communication and aid understanding.
      • Discern aspects of personality from environmental context, including office, home, social and geographic environments.
      • Recognize hidden communications in conversation.
    5. Real Estate Negotiations
      • Describe the liability concerns facing all real estate salespeople, and outline how these affect the general negotiation process.
      • Explain the basic conflicts common to real estate negotiation.
      • Recognize general strategies that can help to minimize conflict in any negotiation.
      • Explain why alternatives are important in real estate negotiation.
      • Identify the problems created by deciding too much too early in the negotiation process, and the difficulties that result from adopting an overly competitive stance.
      • Apply a clear method for determining which issues present problems in a given negotiation, and rank them according to the amount of negotiation it will take to resolve them.
      • Describe the basic steps of successful communication.
      • Outline the basic steps and purpose of active listening.
      • Recognize the role that effective use of language plays in successful real estate negotiation.
      • Distinguish the needs, wants and desires of the parties involved in a real estate transaction.
      • State the way raw needs, wants and desires are translated into the benefits of a particular property.
      • Use benefits to build the framework of a mutually acceptable deal.
      • Identify and apply several general strategies for dealing with objections.
      • Recognize the signs of concealed objections.
      • Distinguish and explain general strategies that help a salesperson manage the offer – counter offer process effectively.
      • Determine what kind of preparatory strategies are needed before attempting to close a deal.
      • Describe three basic closing methods, and identify what features of a deal would make it appropriate to choose one particular method.
      • Recognize when and how it is appropriate to use the purchase agreement as a negotiation tool.

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    How to Build a Real Estate Practice in Texas is a thirty – hour course for experienced real estate professionals who wish to establish their own real estate brokerages. The course provides information on how to successfully operate a business, teaches professional skills necessary to provide high – quality service to clients, discusses risk management and compliance within federal and state law, and addresses issues related to valuation and finance.

    There are seven sections or modules to this course and their learning objectives are listed below.

    1. How to Build a Successful Business
      • Understand the risks and requirements of starting a business
      • Be able to create a mission statement, business plan and marketing plan
      • Be able to recognize the significance of market presence
      • Understand the importance of referrals, prospecting and farming
      • Know how to develop effective communication skills
      • Be able to use various marketing techniques in order to promote the services of a real estate brokerage firm
      • Know how to hire and train employees
      • Be able to build lasting relationships with partners and clients
      • Understand the characteristics of an effective manager
    2. Asset Management
      • Be familiar with the basic concepts of asset management
      • Be familiar with the common decisions faced by an asset manager
      • Know what a Real Estate Investment Trust (REIT) is and the benefits of investing in one
      • Understand the risks and rewards associated with real estate investment
      • Know how to conduct a useful market study
      • Understand how interest rates affect the real estate market
      • Be able to calculate the depreciation of residential and commercial real property held for business or investment
      • Be familiar with the financial ratio methods of valuation, including Price to Earnings Ratios and Cap Rates
      • Know how to create a pro forma projection for a real estate investment alternative
      • Know the basics of a Discounted Cash Flow (DCF) analysis
      • Know how to use the Net Present Value (NPV) and Internal Rate of Return (IRR) to compare the values of several alternatives
      • Be familiar with distressed properties and how to handle them
      • Know the important factors to consider when refinancing
      • Be able to apply these concepts in the real world
    3. Tax – Favorable Real Estate Transactions
      • Identify motivated buying and selling clients.
      • Outline the attributes of qualified and non – qualified products and how they can benefit to the sales process.
      • Describe the restrictive rulings of the 1031 exchange program.
      • Explain how money can be accumulated using pre – tax dollars, accumulating interest on a tax – deferred basis and creating litigation protection.
      • State charitable strategies for creating income and tax relief for individuals or families owning highly – appreciated real estate.
      • Describe charitable gift annuities and the annuity payments, income benefits and tax advantages associated with them.
      • State the parameters that the IRS uses to define a valid “like kind” exchange.
      • Explain the advantages and disadvantages of various exchanging alternatives.
      • Outline the mechanics of a successful tax – deferred exchange and the role of each party in those exchanges.
      • Identify common exchange documentation and describe the role of a qualified intermediary.
      • Define “boot” and explain how to deal with it.
      • Calculate whether a sale is preferable to an exchange.
    4. Code of Ethics
      • Identify the definition of ethics used in this course.
      • Briefly describe the four business ethics approaches used in this course.
      • List major categories of the Articles of the NAR® Code of Ethics.
      • Describe the structure of the NAR® Code of Ethics and its supporting materials.
      • Identify at least two aspirational concepts in the Preamble to the NAR® Code of Ethics, describe the concept of general business ethics and identify how the Code of Ethics compares and contrasts with the concept of general business ethics.
      • Describe the concepts of at least two of the following Articles of the Code of Ethics: Articles 1, 2, 3, 9, 11, 12, 16, and 17.
      • Identify possible violations of the NAR® Code of Ethics given interactive learning methods such as case studies, quizzes, role playing and group discussion of fact scenarios.
      • Briefly describe the professional standards enforcement process of a local board or association.
      • Differentiate between intentional fraud, negligent misrepresentation and negligence.
      • List the three violations of antitrust laws: price fixing, group boycotts and market allocations.
      • Describe how the existence of and adherence to the NAR® Code of Ethics is good for the real estate profession.
    5. Fair Housing
      • Understand the purpose of the Federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
      • Be aware of the seven activities considered illegal as a result of the Fair Housing Laws.
      • Know the five exemptions from the Federal Fair Housing Laws for property owners.
      • Be able to recognize discrimination in real estate practice.
      • Be able to identify acts considered discriminatory under the Fair Housing Act of 1968 as amended in 1972 and 1988.
      • Understand the purpose of the Federal Equal Credit Opportunity Act (ECOA) and know the classes it protects.
      • Understand the purpose of the Americans with Disabilities Act ADA).
      • Know how the ADA affects real estate practice.
      • Know how Fair Housing Complaints are handled.
      • Know the penalties for non – compliance with Fair Housing Laws
      • Know how to incorporate business practices designed to prevent discrimination by real estate professionals.
      • Understand the purpose of the HUD/NAR Partnership and why it is important.
      • Know the most important principle in following HUD Advertising Guidelines.
      • Be able to identify acceptable and unacceptable words and phrases for use in advertisements.
      • Have learned how to apply those practices that will assist a REALTOR® in evidencing that he or she does not discriminate.
      • Know what the differences are between federal regulations and Texas State regulations on fair housing.
    6. Real Estate Appraisal
      • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
      • Identify the basic capacities and skills of a qualified appraiser.
      • Recognize the valuation principles used in real estate appraisal.
      • Apply value theories to arrive at purchase prices of real estate.
      • Characterize a favorable market for real estate sales.
      • Differentiate the three approaches to value commonly used in appraisal.
      • Follow the eight steps to the appraisal process to arrive at an accurate purchase price.
      • Analyze and interpret an appraisal report.
      • Differentiate between appraisal licensure and certification.
    7. Real Estate Finance
      • Understand the basic concepts of real estate financing, and the key terms involved
      • Know how to qualify a buyer for the most common types of loans
      • Be familiar with the use and function of escrow accounts
      • Know what a Mortgage Insurance Premium is
      • Know the underwriting guidelines and process
      • Be familiar with the three most common types of loans: Conventional, FHA and VA
      • Know the advantages and disadvantages of conventional loans
      • Know how to use conventional qualifying ratios
      • Know the advantages and disadvantages of FHA loans
      • Know about the differing FHA qualification ratios
      • Know the advantages and disadvantages of VA loans
      • Be familiar with VA eligibility and qualification periods
      • Be able to calculate the amount of VA entitlement used
      • Be able to calculate VA loan amounts and required down payments
      • Know the process and qualifications for assuming VA and FHA loans
      • Be familiar with other types of loans available
      • Know how to underwrite and close loans

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    How to Build a Real Estate Practice in Texas is a thirty – hour course for experienced real estate professionals who wish to establish their own real estate brokerages. The course provides information on how to successfully operate a business, teaches professional skills necessary to provide high – quality service to clients, discusses risk management and compliance within federal and state law, and addresses issues related to valuation and finance.

    There are seven sections or modules to this course and their learning objectives are listed below.

    1. How to Build a Successful Business
      • Understand the risks and requirements of starting a business
      • Be able to create a mission statement, business plan and marketing plan
      • Be able to recognize the significance of market presence
      • Understand the importance of referrals, prospecting and farming
      • Know how to develop effective communication skills
      • Be able to use various marketing techniques in order to promote the services of a real estate brokerage firm
      • Know how to hire and train employees
      • Be able to build lasting relationships with partners and clients
      • Understand the characteristics of an effective manager
    2. Asset Management
      • Be familiar with the basic concepts of asset management
      • Be familiar with the common decisions faced by an asset manager
      • Know what a Real Estate Investment Trust (REIT) is and the benefits of investing in one
      • Understand the risks and rewards associated with real estate investment
      • Know how to conduct a useful market study
      • Understand how interest rates affect the real estate market
      • Be able to calculate the depreciation of residential and commercial real property held for business or investment
      • Be familiar with the financial ratio methods of valuation, including Price to Earnings Ratios and Cap Rates
      • Know how to create a pro forma projection for a real estate investment alternative
      • Know the basics of a Discounted Cash Flow (DCF) analysis
      • Know how to use the Net Present Value (NPV) and Internal Rate of Return (IRR) to compare the values of several alternatives
      • Be familiar with distressed properties and how to handle them
      • Know the important factors to consider when refinancing
      • Be able to apply these concepts in the real world
    3. Tax – Favorable Real Estate Transactions
      • Identify motivated buying and selling clients.
      • Outline the attributes of qualified and non – qualified products and how they can benefit to the sales process.
      • Describe the restrictive rulings of the 1031 exchange program.
      • Explain how money can be accumulated using pre – tax dollars, accumulating interest on a tax – deferred basis and creating litigation protection.
      • State charitable strategies for creating income and tax relief for individuals or families owning highly – appreciated real estate.
      • Describe charitable gift annuities and the annuity payments, income benefits and tax advantages associated with them.
      • State the parameters that the IRS uses to define a valid “like kind” exchange.
      • Explain the advantages and disadvantages of various exchanging alternatives.
      • Outline the mechanics of a successful tax – deferred exchange and the role of each party in those exchanges.
      • Identify common exchange documentation and describe the role of a qualified intermediary.
      • Define “boot” and explain how to deal with it.
      • Calculate whether a sale is preferable to an exchange.
    4. Code of Ethics
      • Identify the definition of ethics used in this course.
      • Briefly describe the four business ethics approaches used in this course.
      • List major categories of the Articles of the NAR® Code of Ethics.
      • Describe the structure of the NAR® Code of Ethics and its supporting materials.
      • Identify at least two aspirational concepts in the Preamble to the NAR® Code of Ethics, describe the concept of general business ethics and identify how the Code of Ethics compares and contrasts with the concept of general business ethics.
      • Describe the concepts of at least two of the following Articles of the Code of Ethics: Articles 1, 2, 3, 9, 11, 12, 16, and 17.
      • Identify possible violations of the NAR® Code of Ethics given interactive learning methods such as case studies, quizzes, role playing and group discussion of fact scenarios.
      • Briefly describe the professional standards enforcement process of a local board or association.
      • Differentiate between intentional fraud, negligent misrepresentation and negligence.
      • List the three violations of antitrust laws: price fixing, group boycotts and market allocations.
      • Describe how the existence of and adherence to the NAR® Code of Ethics is good for the real estate profession.
    5. Fair Housing
      • Understand the purpose of the Federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
      • Be aware of the seven activities considered illegal as a result of the Fair Housing Laws.
      • Know the five exemptions from the Federal Fair Housing Laws for property owners.
      • Be able to recognize discrimination in real estate practice.
      • Be able to identify acts considered discriminatory under the Fair Housing Act of 1968 as amended in 1972 and 1988.
      • Understand the purpose of the Federal Equal Credit Opportunity Act (ECOA) and know the classes it protects.
      • Understand the purpose of the Americans with Disabilities Act ADA).
      • Know how the ADA affects real estate practice.
      • Know how Fair Housing Complaints are handled.
      • Know the penalties for non – compliance with Fair Housing Laws
      • Know how to incorporate business practices designed to prevent discrimination by real estate professionals.
      • Understand the purpose of the HUD/NAR Partnership and why it is important.
      • Know the most important principle in following HUD Advertising Guidelines.
      • Be able to identify acceptable and unacceptable words and phrases for use in advertisements.
      • Have learned how to apply those practices that will assist a REALTOR® in evidencing that he or she does not discriminate.
      • Know what the differences are between federal regulations and Texas State regulations on fair housing.
    6. Real Estate Appraisal
      • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
      • Identify the basic capacities and skills of a qualified appraiser.
      • Recognize the valuation principles used in real estate appraisal.
      • Apply value theories to arrive at purchase prices of real estate.
      • Characterize a favorable market for real estate sales.
      • Differentiate the three approaches to value commonly used in appraisal.
      • Follow the eight steps to the appraisal process to arrive at an accurate purchase price.
      • Analyze and interpret an appraisal report.
      • Differentiate between appraisal licensure and certification.
    7. Real Estate Finance
      • Understand the basic concepts of real estate financing, and the key terms involved
      • Know how to qualify a buyer for the most common types of loans
      • Be familiar with the use and function of escrow accounts
      • Know what a Mortgage Insurance Premium is
      • Know the underwriting guidelines and process
      • Be familiar with the three most common types of loans: Conventional, FHA and VA
      • Know the advantages and disadvantages of conventional loans
      • Know how to use conventional qualifying ratios
      • Know the advantages and disadvantages of FHA loans
      • Know about the differing FHA qualification ratios
      • Know the advantages and disadvantages of VA loans
      • Be familiar with VA eligibility and qualification periods
      • Be able to calculate the amount of VA entitlement used
      • Be able to calculate VA loan amounts and required down payments
      • Know the process and qualifications for assuming VA and FHA loans
      • Be familiar with other types of loans available
      • Know how to underwrite and close loans

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Course Number: (1111).

    In the real estate industry, agreements are made everyday. Whether a salesperson is promising to sell a property within a specified period of time, a buyer is placing an offer on a house or a buyer is trying to purchase a property, some type of contract will be involved.

    Before entering into a legally binding agreement, real estate professionals should fully understand the different types of contracts that govern their industry. If a real estate professional makes a mistake while making a contract, he or she will be held liable for that mistake. Therefore, it is vital that real estate professionals protect themselves against errors, oversights and misunderstandings.

    This course will introduce the student to contracts by identifying the components that create a valid contract as well as the different types of contracts that govern the real estate industry. However, in order to set the foundation for this course, we begin by discussing agency relationships. The law of agency governs the types of duties and obligations that an agent owes to his or her client as well as the duties and obligations the client owes to the agent. Agents must understand these types of relationships prior to entering into agreements that bind them to them. Once an understanding of the law of agency has been established, we will proceed to discuss the components of contracts, the importance of contracts, the laws that regulate contracts and the types of real estate contracts.

    This course will discuss the five components of a legally enforceable contract; a contract must have legally competent parties, have consideration, have lawful objective, adhere to the statute of frauds and have mutual assent. Once the student understands what comprises a valid contract, we will identify the important laws and rules that govern contracts; these include: the statute of frauds, the doctrine of laches, the Texas Real Estate License Act, promissory estoppel, the parol evidence rule, promissory estoppel, the Uniform Commercial Code and the Deceptive Trade Practices Act.

    From there, we will probe the different categories of contracts, such as implied, express, unilateral, bilateral, valid, unenforceable, void, voidable, executed and executory contracts. This will set the foundation for the next section of the course, which will cover real estate contracts. There are several different types of real estate contracts, but we will focus on: listing agreements, sale contracts, contract for deeds, option agreements, leases and TREC promulgated forms.

    Lesson 6 and Lesson 7 will discuss two real estate contracts in further detail-listing agreements and leases. The listing agreement is the most important document that an agent has that identifies his or her contractual obligation to and relationship with his or her client; therefore, it is vital that the agent be able to differentiate between the various types of listing agreements. It is also important that the agent understand leases; his or her client will most likely obtain the agent’s services if he or she has questions or needs assistance with his or her contractual obligations to the landlord.

    Lesson 8 identifies the consequences of a breached contract. A breach of contract occurs when one party does not fulfill or carry out the terms of the agreement as outlined by the contract. When this occurs, the agent should be able to identify not only the consequences, but the remedies as well.

    Lesson 9 will introduce the student to real estate finance. One of the key elements of real estate transactions is the ability to obtain financing. For instance, most real estate contracts will have contingencies that stipulate that a contract can be rescinded if the financial aspects of the contract are not met. Therefore, the agent should be familiar with the different kinds of loans and financing available to his or her client.

    Lesson 10 concludes the course by testing the student’s ability to apply his or her knowledge of Texas Contracts.

    LEARNING OBJECTIVES

    Upon completion of this module, the student will be able to.

    • Understand agency relationships
    • Understand the licensee’s role in real estate transactions
    • Be familiar with the process of working with buyers and sellers
    • Identify the differences between the various types of contracts
    • Know the three elements of a contract
    • Outline the five components of a legally enforceable contract
    • Apply the laws, doctrines and statutes that govern real estate contracts
    • Distinguish between the different types of real estate contracts
    • Recognize and complete the forms promulgated by TREC
    • Completely perform a contract
    • Recall the important elements of leases and listing agreements
    • Discern between valid, void, voidable and unenforceable contracts
    • Identify the various consequences for breaching a contract
    • List the remedies for breaching a contract
    • Recognize when rescission is acceptable
    • Understand the concepts of novation and assignment
    • Understand when contract breaches occur and the consequences and/or remedies for a breach of contract
    • Recognize the various contracts and forms that govern FHA and VA loans
    • Understand the requirements for a VA or FHA loan

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

    Course Description

    Course Number: (1111).

    In the real estate industry, agreements are made everyday. Whether a salesperson is promising to sell a property within a specified period of time, a buyer is placing an offer on a house or a buyer is trying to purchase a property, some type of contract will be involved.

    Before entering into a legally binding agreement, real estate professionals should fully understand the different types of contracts that govern their industry. If a real estate professional makes a mistake while making a contract, he or she will be held liable for that mistake. Therefore, it is vital that real estate professionals protect themselves against errors, oversights and misunderstandings.

    This course will introduce the student to contracts by identifying the components that create a valid contract as well as the different types of contracts that govern the real estate industry. However, in order to set the foundation for this course, we begin by discussing agency relationships. The law of agency governs the types of duties and obligations that an agent owes to his or her client as well as the duties and obligations the client owes to the agent. Agents must understand these types of relationships prior to entering into agreements that bind them to them. Once an understanding of the law of agency has been established, we will proceed to discuss the components of contracts, the importance of contracts, the laws that regulate contracts and the types of real estate contracts.

    This course will discuss the five components of a legally enforceable contract; a contract must have legally competent parties, have consideration, have lawful objective, adhere to the statute of frauds and have mutual assent. Once the student understands what comprises a valid contract, we will identify the important laws and rules that govern contracts; these include: the statute of frauds, the doctrine of laches, the Texas Real Estate License Act, promissory estoppel, the parol evidence rule, promissory estoppel, the Uniform Commercial Code and the Deceptive Trade Practices Act.

    From there, we will probe the different categories of contracts, such as implied, express, unilateral, bilateral, valid, unenforceable, void, voidable, executed and executory contracts. This will set the foundation for the next section of the course, which will cover real estate contracts. There are several different types of real estate contracts, but we will focus on: listing agreements, sale contracts, contract for deeds, option agreements, leases and TREC promulgated forms.

    Lesson 6 and Lesson 7 will discuss two real estate contracts in further detail-listing agreements and leases. The listing agreement is the most important document that an agent has that identifies his or her contractual obligation to and relationship with his or her client; therefore, it is vital that the agent be able to differentiate between the various types of listing agreements. It is also important that the agent understand leases; his or her client will most likely obtain the agent’s services if he or she has questions or needs assistance with his or her contractual obligations to the landlord.

    Lesson 8 identifies the consequences of a breached contract. A breach of contract occurs when one party does not fulfill or carry out the terms of the agreement as outlined by the contract. When this occurs, the agent should be able to identify not only the consequences, but the remedies as well.

    Lesson 9 will introduce the student to real estate finance. One of the key elements of real estate transactions is the ability to obtain financing. For instance, most real estate contracts will have contingencies that stipulate that a contract can be rescinded if the financial aspects of the contract are not met. Therefore, the agent should be familiar with the different kinds of loans and financing available to his or her client.

    Lesson 10 concludes the course by testing the student’s ability to apply his or her knowledge of Texas Contracts.

    LEARNING OBJECTIVES

    Upon completion of this module, the student will be able to.

    • Understand agency relationships
    • Understand the licensee’s role in real estate transactions
    • Be familiar with the process of working with buyers and sellers
    • Identify the differences between the various types of contracts
    • Know the three elements of a contract
    • Outline the five components of a legally enforceable contract
    • Apply the laws, doctrines and statutes that govern real estate contracts
    • Distinguish between the different types of real estate contracts
    • Recognize and complete the forms promulgated by TREC
    • Completely perform a contract
    • Recall the important elements of leases and listing agreements
    • Discern between valid, void, voidable and unenforceable contracts
    • Identify the various consequences for breaching a contract
    • List the remedies for breaching a contract
    • Recognize when rescission is acceptable
    • Understand the concepts of novation and assignment
    • Understand when contract breaches occur and the consequences and/or remedies for a breach of contract
    • Recognize the various contracts and forms that govern FHA and VA loans
    • Understand the requirements for a VA or FHA loan

    Regulatory Requirement

    Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

    Course Completion

    Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

    Testing

    Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

    Final Exam – Passing Grade 70%. You can take the final three times.

    About The Subject Matter Expert

    This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

    Support

    If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

    30 $128

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