Free online courseReal Estate Exam Concepts

Course Description

The "Real Estate Exam Concepts" course is a comprehensive guide designed to help aspiring realtors achieve their professional goals. With a total duration of 11 hours and 1 minute, this course falls under the Professional courses category, specifically within the Realtor subcategory. The course covers a wide array of critical topics that are crucial for passing the real estate licensing exam.

Participants begin by understanding what a real estate license is, exploring fundamental questions that are likely to appear on the exam. Functional and economic obsolescence are dissected, helping learners differentiate between these forms of depreciation in real estate. The course also delves into agrarian elements like emblements, giving a full scope of what to expect in real estate transactions.

Easements are another significant focus, with detailed explanations on their types and implications. Puffing and its legal boundaries are also discussed, ensuring that learners can differentiate between permissible sales techniques and deceitful practices. Both freehold and leasehold estates are examined, clarifying the distinctions and their importance in real estate law.

Contingent properties, government powers, and water rights are key elements that the course brings to light, followed by the concept of appurtenance in property rights. Escrow mechanisms and the differences between bilateral and unilateral contracts are explored. The course also includes chapters on fraud, agency relationships, and air rights, which are crucial for a nuanced understanding of real estate transactions.

The course outlines the differences between dominant and servient estates, and provides an understanding of dual agency situations. Legal clauses such as Habendum, Alienation, Defeasance, Acceleration, Prepayment Penalty, Subordination, and Release Clauses are all broken down to their basic meanings. Learners are guided through escheat, eminent domain, and the role of an attorney-in-fact.

Complex concepts like the differences between title and deed, equitable title, types of deeds, adverse possession, and color of title are skilfully unpacked. The nuances between ingress and egress, debits and credits, as well as real estate economics are made clear for test-takers.

Real estate novation, commingling, and valid contract types are further examined to ensure that participants are well-versed in contract law. Differences between valid, void, and voidable contracts are also explained, along with nuances between executed and executory contracts, implied contracts, and option contracts. The course continues with an in-depth analysis of the market data, cost, and income approaches to property valuation.

Principles such as conformity, substitution, contribution, highest and best use, and progression are covered to provide a thorough understanding of real estate appraisal. Physical deterioration, blind ads, and blind offers are also discussed.

Extensive topics related to legal and ethical standards, including blockbusting, steering, protected classes in real estate, various civil rights acts, group boycotting, tie-in agreements, and price fixing, are meticulously covered. Considerations of the Truth in Lending Act, Fair Housing Acts, and different exemptions are highlighted.

The course rounds off by discussing real estate settlement procedures, usury laws, the roles of lessor vs lessee, and various lease types, such as net leases, gross leases, percentage leases, sandwich leases, leasebacks, and variable leases.

Finally, learners are equipped with insider tips and essential exam vocabulary to ensure a successful exam experience. This course stands as an invaluable resource for anyone aspiring to excel in their real estate licensing exam.