This package contains the following 6 Basic courses:
INCLUDED COURSES - 180 hour package:
Course Name Approval Number
- Principles of Real Estate I 121
- Principles of Real Estate II 122
- Promulgated Contract Forms 351
Principles of Real Estate I 121
Principles of Real Estate I -- a Texas Real Estate Commission mandatory 30 hour core course that is the foundation for the beginning real estate agent.
The purpose of this course is to give students a brief synopsis and overview of real estate:
How real estate is transferred, the documents used in transferring it, the rules and laws by which real estate agents will perform, the meaning of representation and how and why properties are appraised.
The course will begin with the concepts of ethics in the field of real estate. It will further on cover real property ownership and land use and the Texas license law.
Also discussed within this course are contracts, purchase and sale agreements, the rules of fair housing in real estate and the laws of agency.
Principles of Real Estate II 122
Principles of Real Estate II is a Texas Real Estate Commission mandatory 30 hour core course that is the foundation for the beginning real estate agent.
The purpose of this course is to give students a continuation of a brief synopsis and overview of real estate:
real estate financing,
how title to property is transferred,
basic real estate math,
the specialty area of leasing and property management,
the principles of investment and control of land use.
The course will cover broad topics ranging from titles and records to property Management. Also discussed in this course will be deeds, liens, taxes and foreclosures.
Student will also learn about listing agreements, closing and settlement costs, how to value and appraise a property, basic financing policies and regulations, real estate math and leases.
Law of Agency 1151
The purpose of this course is to give new licensees an overview of the concept of agency. Agency law has evolved over the past decade
It is of utmost important for agents to have an understanding of their responsibilities in representing buyers and sellers.
This course covers broad aspects relating to agency relationships, particularly principal-agent and master-servant relationships. It also covers the issues relating to the authority of an agent,
the termination of an agent's authority, the fiduciary and other duties of an agent, Senate Bill No. 489, agency contracts, employment law, and the disclosure of agency.
Law of Contracts 1251
The purpose of this course is to give students a basic understanding of the basic paragraphs of the contract (what they actually mean I layman's terms)
The purpose is also to give students the opportunity to not only have the knowledge of contracts but also to fill out contracts.
This course covers broad aspects relating to the elements of a contract, offer and acceptance, contract law and use of contracts, Also
The statute of frauds, the residential contract, presenting offers and licensee's responsibilities, HUD settlement and closing costs and FHA and VA contract information
Finance I 451
This course provides an introduction to residential real estate finance information on how to underwrite FHA, VA, FNMA, & FHLMC loans.
In this course, the basics are discussed regarding applications, appraisals, escrow, title, and credit reports, which includes FICO, qualifying for loan amounts, and verifying income and assets.
You will also learn how to calculate loan amounts, affordable monthly payments, property taxes, hazard and mortgage insurances (Conventional and FHA), qualifying ratios and income.
Promulgated Contract Forms 351
When representing buyers and sellers, one of the most important things a real estate licensee does is to prepare and review offers for them by filling in the blanks of promulgated forms.
In order to be knowledgeable, as required by the Cannons of Professional Ethics, it is necessary for licensees to not only know what goes in the blank but what is in the pre-printed portion of the contact.
Licensees may not give legal advice and must advise the parties to seek help from their own attorney if a question arises regarding legal rights or remedies.
Licensees can, however, point out to the parties the verbiage in the contact form. To fulfill that role licensees must be completely familiar with the forms.
At the conclusion of this course you will be able to:
- •Fill in the blanks of the promulgated forms properly
- •Understand when to use an Amendment
- •Know the difference between addenda and notices and their roles
- •Be aware of the business details covered in the contract
- •Be knowledgeable about the promulgated addendum
- •Know when you are crossing the line and defining legal rights and when the parties need the assistance of an attorney
- •Be able to explain the parties options under the contract
- •Be aware of potential legal problems and know when to encourage the parties to seek legal advice