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BUS 0291 - Real Estate Practice

http://catalog.sierracollege.edu/course-outlines/bus-0291/

Catalog Description Advisory: Completion of BUS 290 with grade of "C" or better Hours: 54 lecture Description: Fundamental Real Estate course that focuses on application and use of core real estate concepts in day-to-day operations, including listing, prospecting, advertising, financing, sales techniques, escrow, and ethics, while utilizing common, form documents (contractual, disclosure, etc.) consistent with professional and industry standards. This course will include interactive, participatory, and other in-class activities designed to address legally required topics, including regulatory and ethical practices. This course is helpful to everyone preparing for the real estate license examination, covering many additional and tested concepts with terminology. (CSU) Course Student Learning Outcomes CSLO #1: Develop skills needed to successfully pass the real estate license exam and work in a real estate related field. CSLO #2: Analyze and prepare documents associated with real estate transactions determining which documents are appropriate for a given type of transaction. CSLO #3: Create a plan to start and/or engage in a real estate business & design a marketing and/or prospecting plan focused on obtaining listings and/or leads from homeowners, prospective homeowners and/or related professionals in a specific geographic area. CSLO #4: Explain the impact of implicit bias, explicit bias, and systemic bias on consumers, the historical and social impacts of those biases, and actionable steps students can take to recognize and address one’s own implicit biases. CSLO #5: Analyze federal and state fair housing laws and apply them in an interactive participatory activity assignment where the student role-plays as both a consumer and a real estate professional. Effective Term Fall 2025 Course Type Credit - Degree-applicable Contact Hours 54 Outside of Class Hours 108 Total Student Learning Hours 162 Course Objectives Compare the advantages and disadvantages of working for different brokerage firms to assist in choosing the right one. Create daily, weekly, monthly, annual sales and production goals and a plan to achieve them. Determine a prospecting plan to develop a consistent source of client leads. Design a listing presentation so a seller will choose you and your firm over other agents and their firm. Prepare a buyer representation agreement for a buyer and a listing agreement for a seller. Prepare a residential purchase agreement (i.e. offer for a buyer) and related attachments, addendums and counteroffers for either buyer and/or seller.  Describe and explain the escrow process. Assemble an estimated buyer and seller's estimated closing cost net sheet. Evaluate the pros and cons of developing a property management business versus a residential sales business. Differentiate between agent responsibilities to a buyer and those to a seller. Identify implicit bias' and actionable steps that can be taken to recognize and bias through the use of an interactive and  participatory exercise, applying relevant federal and state fair housing laws from the role play perspective as both a consumer and as a real estate professional. General Education Information Approved College Associate Degree GE Applicability CSU GE Applicability (Recommended-requires CSU approval) Cal-GETC Applicability (Recommended - Requires External Approval) IGETC Applicability (Recommended-requires CSU/UC approval) Articulation Information CSU Transferable Methods of Evaluation Classroom Discussions Example: 1. After reviewing the provided materials regarding recent changes in Mortgage Rates, consider and discuss how the changes in those rates would affect your interactions with potential buyers and sellers of real property, including general marketing materials, listing presentations, property showings, etc. Objective Examinations Example: 1. Multiple choice exams and quizzes administered using sample RE license exams. Proficiency determined at 70% Projects Example: 1. Each student will complete and present a class project that includes activities involved in the investigation and analysis of at least three (3)concepts that relate to operating a successful real estate brokerage business. (Objectives 3 and 4) 2. In conjunction with a written exercise, students will critique two “Craigslist” ads, identifying both positive and negative aspects of the ads based upon the criteria discussed in class, and the instructor will evaluate student submissions to determine if they applied the appropriate criteria. (Students may provide their responses in multiple or alternative formats or modus' that best meet their needs and requirements). Skill Demonstrations Example: 1. Complete a listing agreement and/or buyer's representation agreement. Repeatable No Methods of Instruction Lecture/Discussion Distance Learning Lecture: Instructor uses web accessible resources in class to assist students in obtaining an understanding of real life (everyday situations) and application of key industry concepts, including listing and appraisal services. (Objective 3) Instructor presents a series of examples of content that would be included in a potential presentation to a listing prospective client, designed to convince the prospect of the real estate agent's qualifications and expected performance. After presenting these materials, students will have the opportunity in class to discuss "what worked" and "what did not work" relative to the presentation. Students revise the listing presentation in small groups from feedback given by peers and instructor. (Objective 3) Distance Learning Recorded Lectures walking through the Real Property Listing process from generating a Seller Lead, to securing the Listing, to setting the price and marketing the property. Typical Out of Class Assignments Reading Assignments 1. Read assigned chapters in advance of class sessions for use in lecture/discussions. 2. Read weekend real estate section of the major newspaper to become aware of current events and trends for use in class discussion. 3. Review the current content from at least one real estate industry website that covers real property transactions in the local area. Writing, Problem Solving or Performance 1. Create a prospecting plan to develop a consistent source of client leads. 2. Prepare a listing agreement for a seller based upon hypothetical information presented by the instructor. 3. Show the pros and cons in chart form regarding a property management business versus a real estate brokerage business. 4. From web based resources, identify specific marketing ideas that will help generate buyer and seller leads. Other (Term projects, research papers, portfolios, etc.) Interactive and Role Play activities where each student shall demonstrate how to take actionable steps to both identify bias (implicit, explicit, etc.) and comply with federal and state housing laws separately from both the role as a consumer and a real estate professional perspective. Required Materials California Real Estate Practice Author: Pivar, Anderson and Otto Publisher: Educational Textbook Company Publication Date: 2023 Text Edition: 10th Classic Textbook?: No OER Link: OER: Other materials and-or supplies required of students that contribute to the cost of the course.