Tab le of Contents
CHAPTER 1: INTRODUCTION TO AGENCY .............................................................. 5
CHAPTER TOPICS
... [Show More] ...................................................................................................... 5
CHAPTER LEARNING OBJECTIVES .................................................................................. 5
INTRODUCTION ........................................................................................................ 6
AGENCY AND AGENCY LAW .......................................................................................... 6
HOW AN AGENCY IS CREATED AND TERMINATED ............................................................. 17
CHAPTER SUMMARY ................................................................................................. 39
CHAPTER 2: REAL ESTATE AGENCY RELATIONSHIPS ........................................... 41
CHAPTER TOPICS .................................................................................................... 41
CHAPTER LEARNING OBJECTIVES ................................................................................ 41
INTRODUCTION ...................................................................................................... 42
AGENCY DISCLOSURE ............................................................................................... 42
TYPES OF AGENCY RELATIONSHIPS .............................................................................. 71
CHAPTER SUMMARY ................................................................................................. 77
CHAPTER 3: LISTING AGREEMENTS AND PROPERTY DISCLOSURES ...................... 79
CHAPTER TOPICS .................................................................................................... 79
CHAPTER LEARNING OBJECTIVES ................................................................................ 79
INTRODUCTION ...................................................................................................... 80
TYPES OF LISTING AGREEMENTS ................................................................................. 80
ELEMENTS OF A LISTING AGREEMENT ........................................................................... 83
MANDATORY DISCLOSURES CONCERNING THE PROPERTY .................................................. 96
CHAPTER SUMMARY ................................................................................................ 117
CHAPTER 4: LISTING REGULATIONS, PART 1 ..................................................... 119
CHAPTER TOPICS ................................................................................................... 119
CHAPTER LEARNING OBJECTIVES ............................................................................... 119
INTRODUCTION ..................................................................................................... 120
THE REAL ESTATE LAW ........................................................................................... 120
ANTI-DISCRIMINATION LAWS ................................................................................... 126
CHAPTER SUMMARY ................................................................................................ 158
CHAPTER 5: LISTING REGULATIONS, PART 2 ..................................................... 161
CHAPTER TOPICS ................................................................................................... 161
CHAPTER LEARNING OBJECTIVES ............................................................................... 161
INTRODUCTION ..................................................................................................... 162
ANTITRUST LAWS AND LISTING PRACTICES ................................................................... 162
ENVIRONMENTAL ISSUES ......................................................................................... 168
CHAPTER SUMMARY ................................................................................................ 186
CHAPTER 6: EVALUATING AND PRICING PROPERTY ............................................ 188
CHAPTER TOPICS ................................................................................................... 188
CHAPTER LEARNING OBJECTIVES ............................................................................... 188
INTRODUCTION ..................................................................................................... 189
THE AGENT’S ROLE IN PRICING PROPERTY VALUE .......................................................... 189
COMPETITIVE MARKET ANALYSIS ............................................................................... 200
THE PROBLEM OF A LOW APPRAISAL ........................................................................... 202
CHAPTER SUMMARY ................................................................................................ 203
CHAPTER 7: SALES TECHNIQUES AND PRACTICES .............................................. 206
CHAPTER TOPICS ................................................................................................... 206
CHAPTER LEARNING OBJECTIVES ............................................................................... 206
INTRODUCTION ..................................................................................................... 207
LISTING PRACTICES ................................................................................................ 207
SELLING PRACTICES ............................................................................................... 221
SAFETY ISSUES ..................................................................................................... 230
REAL ESTATE ASSISTANTS ....................................................................................... 232
CHAPTER SUMMARY ................................................................................................ 234
CHAPTER 8: PREPARING AND NEGOTIATING OFFERS ......................................... 236
CHAPTER TOPICS ................................................................................................... 236
CHAPTER LEARNING OBJECTIVES ............................................................................... 236
INTRODUCTION ..................................................................................................... 237
MAKING AN OFFER TO PURCHASE ............................................................................... 237
COUNTEROFFERS AND NEGOTIATIONS ......................................................................... 243
ACCEPTING AN OFFER ............................................................................................. 247
CONTRACT AMENDMENTS ......................................................................................... 249
GOOD FAITH DEPOSITS ........................................................................................... 249
FAIR HOUSING CONSIDERATIONS ............................................................................... 250
CHAPTER SUMMARY ................................................................................................ 251
CHAPTER 9: DEPOSIT RECEIPTS ........................................................................ 253
CHAPTER TOPICS ................................................................................................... 253
CHAPTER LEARNING OBJECTIVES ............................................................................... 253
INTRODUCTION ..................................................................................................... 254
REQUIREMENTS FOR A VALID PURCHASE AGREEMENT ...................................................... 254
THE CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA) ........................................... 262
CHAPTER SUMMARY ................................................................................................ 290
CHAPTER 10: CONTINGENT TRANSACTIONS ...................................................... 291
CHAPTER TOPICS ................................................................................................... 291
CHAPTER LEARNING OBJECTIVES ............................................................................... 291
INTRODUCTION ..................................................................................................... 292
HOW CONTINGENCIES WORK .................................................................................... 292
TYPES OF CONTINGENCIES ....................................................................................... 296
UNFULFILLED CONTINGENCIES .................................................................................. 300
CHAPTER SUMMARY ................................................................................................ 303
CHAPTER 11: LOAN QUALIFYING ....................................................................... 304
CHAPTER TOPICS ................................................................................................... 304
CHAPTER LEARNING OBJECTIVES ............................................................................... 304
INTRODUCTION ..................................................................................................... 305
PREQUALIFYING BUYERS .......................................................................................... 305
THE UNDERWRITING PROCESS .................................................................................. 310
CHOOSING A LOAN ................................................................................................. 313
CHAPTER SUMMARY ................................................................................................ 338
CHAPTER 12: REAL ESTATE FINANCING FEATURES ............................................. 340
CHAPTER TOPICS ................................................................................................... 340
CHAPTER LEARNING OBJECTIVES ............................................................................... 340
INTRODUCTION ..................................................................................................... 341
BASIC LOAN FEATURES............................................................................................ 341
CONVENTIONAL LOANS ............................................................................................ 361
CHAPTER SUMMARY ................................................................................................ 369
CHAPTER 13: FINANCING PROGRAMS ................................................................ 371
CHAPTER TOPICS ................................................................................................... 371
CHAPTER LEARNING OBJECTIVES ............................................................................... 371
INTRODUCTION ..................................................................................................... 372
GOVERNMENT-SPONSORED LOAN PROGRAMS ................................................................ 372
SELLER FINANCING ................................................................................................ 394
CHAPTER SUMMARY ................................................................................................ 399
CHAPTER 14: CLOSING THE TRANSACTION ........................................................ 400
CHAPTER TOPICS ................................................................................................... 400
CHAPTER LEARNING OBJECTIVES ............................................................................... 400
INTRODUCTION ..................................................................................................... 401
THE CLOSING PROCESS ........................................................................................... 401
CLOSING COSTS .................................................................................................... 407
LAWS THAT AFFECT CLOSING .................................................................................... 410
CHAPTER SUMMARY ................................................................................................ 412
CHAPTER 15: PROPERTY MANAGEMENT ............................................................. 414
CHAPTER TOPICS ................................................................................................... 414
CHAPTER LEARNING OBJECTIVES ............................................................................... 414
INTRODUCTION ..................................................................................................... 415
INVESTING IN REAL ESTATE ...................................................................................... 415
TYPES OF MANAGED PROPERTIES ............................................................................... 422
THE PROPERTY MANAGEMENT AGREEMENT ................................................................... 426
THE MANAGEMENT PLAN ......................................................................................... 430
MANAGEMENT FUNCTIONS ....................................................................................... 436
CHAPTER SUMMARY ................................................................................................ 450 [Show Less]