* MI RE PL 40-Hour Salesperson Prelicensure Online Course - Study Copy

Description

Michigan Real Estate Salesperson

40 Hour Prelicensure

COURSE SYLLABUS

Course Description

This 40-hour real estate salesperson prelicensure course is approved and certified by the state of Michigan. Students will learn the fundamentals of real estate, and will also gain the expertise and tools to pass the state exam. Gwyn Besner of The Acme Institute is a respected and well-known educator in Real Estate.  She leads this top quality online video course that walks you through the basic principles of law, contracts, ethics, property law, finance, and management. Hundreds of practice questions and math problems are included to help prepare you for the exam.

Michigan Occupational Code 

Learning Objective:  Students will recognize which portions of the Occupational Code pertain to and regulate the real estate industry.

1. LARA
2. Requirements for Licensure
3. Licenses
4. Continuing Education
5. Assumed Names
6. License Revocation and Suspensions
7. Broker Supervision
8. Commissions
9. Advertising
10. Listings, Co-Brokering
11. Offers and Deposits
12. Trusts
13. Beginning Math Tutorial
 

Contract Law

Learning Objective:  Identify the components of a contract, what conditions may apply and what constitutes a breach of contract.

1. Validity
2. Expressed or Implied
3. Termination
4. Remedies
5. Language
6. Profit or Loss Math Instruction

Agency, Ethics and Broker Principles

Learning Objective:  Be able to prepare a policy and procedure manual for their business.

1. Special, General and Universal Agency
2. Disclosure
3. Service Provision Agreements
4. Professional Ethics
5. Michigan Consumer Laws

Nature Of Property

Learning Objective:  Accurately read a local description and locate property based on metes and bounds, surveys and subdivisions.

1. Legal Description
2. Metes and Bounds
3. Survey System
4. Subdivision Method
5. Land Division Act
6. Interest in Real Property
7. Types of Ownership
8. Water and Mineral Rights

Deeds, Rights, and Restrictions

Learning Objective:  Recognize various forms of estates, ownership, conveyance of property and easements.

1. Transfer of Property
2. Deeds
3. Encumbrances
4. Easements

Valuation and Taxation

Learning Objective:  Understand homeowner benefits, determination of value/taxes, appraisal criteria, and point of sale requirements.

1. Determining Value
2. Property Taxes
3. Appraisal Criteria
4. Gross Rent Multiplier
5. Benefits/Deductibles
6. Point of Sale
7. Prorations

MIDTERM EXAM 70% Passing Score Required

Finance

Learning Objective:  Be able to apply the rules and regulations of state and federal agencies as they pertain to real estate finance;  insurance, mortgages, loans, and lenders.

1. Regulations
2. Lenders
3. Types of Mortgages
4. Loans
5. Mortgage Insurance

Property Management

Learning Objective:  Be able to identify rental and property management requirements, understand commencement and termination inventory checklists, and the use of leases.

1. Michigan Laws
2. Leasehold Estates
3. Leases
4. Real Estate Investment
 

Fair Housing

Learning Objective:  Be able to discuss the history and development of civil rights and fair housing legislation, and apply that towards the goal of a discrimination-free business.

1. Civil Rights Act
2. Federal Fair Housing
3. ADA Requirements
4. Michigan Fair Housing
5. Complaints

FINAL EXAM 70% Passing Score Required