Synopses & Reviews
The primary goal of CALIFORNIA REAL ESTATE PRACTICE, 2E is to ensure today's real estate practitioners are fully equipped with the essential knowledge and tools needed to be successful in this highly technology-driven profession. The National Association of REALTORS? Code of Ethics now included serves as the foundation for real estate professionals to provide exceptional service as a standard of practice. This new edition reflects recent changes in modern real estate practice in California resulting from the banking, finance and construction industries. Global changes include the additions of real estate law, references to civil code, Business and Professions Code, and Regulations of the Real Estate Commissioner, and updated forms throughout. Useful civil code sections and commissioner's rules are also cited where necessary so they can be earmarked for handy future reference.
Synopsis
CALIFORNIA REAL ESTATE PRACTICE by Herd explains the body of real estate law and real estate ethics that are important to the day-to-day practice of real estate with an emphasis on fair housing, full-disclosure and laws governing real estate licensees. It also teaches users how to perform important real estate procedures such as filling out a listing agreement, preparing presentation packages, as well as the real estate practitioner's role in procedures including obtaining escrows, tax and title information and financing. Finally, the many employment options for California real estate professionals are explained in detail. This text is for a pre-licensing course California Real Estate Practice.
Synopsis
Prepare for your career in California real estate with CALIFORNIA REAL ESTATE PRACTICE! Coverage of topics such as real estate law and real estate ethics that are important to the day-to-day practice of real estate prepare you to confidently prospect for clients and effectively work with them. Learning is made easy with a full list of key terms and the latest CAR forms in every chapter. With coverage of employment options in real estate and alternative paths such as commercial sales, property management, and leasing, this real estate text provides you with the information you need to be successful in your real estate career!
About the Author
Robert L. Herd has significant experience in real estate office management having been a licensed California broker since 1974 and holds the Certified Real Estate Brokerage Manager (CRB), Certified Residential Specialist (CRS), and Graduate, REALTORS Institute (GRI) designations. Following his first management position in Burlingame, CA, he opened his own company, a Century 21 franchise and earned every honor Century 21 offered over the next several years. He later sold the company in the mid 80's and began working as a branch manager for one of the larger residential firms eventually managing over 84 sales associates at one time. Bob has held Branch Manager positions for three of the top California companies including Coldwell Banker, Cornish and Carey and Fox and Carskadon where he also held a Regional Manager's position prior to its sale to the National Realty Trust. Bob is currently a branch manager for Coldwell Banker Residential Brokerage and can be contacted at
[email protected] A. Southstone is a licensed California real estate broker with more than twenty years of experience in real estate sales, sales management, training, consulting and coaching. He holds the Certified Real Estate Brokerage Manager (CRB), Certified Residential Specialist (CRS) and Graduate Realtor? Institute (GRI) designations. Bruce is an adjunct instructor in real estate at Cabrillo College, Aptos, CA. and he is an orientation instructor for the Santa Cruz Association of REALTORS?. He has taught real estate sales and practice for several large independent and franchise companies and has coached many individuals to a higher level of professional achievement in real estate. Currently he is general manager of Coast Country Real Estate, Soquel CA. Bruce served as President of the Santa Cruz Association of REALTORS? in 2002, was named REALTOR? of the Year in 2004, and received the Lifetime Achievement Award from the Santa Cruz Association of REALTORS? in 2008. Currently, he is a member of MLS Listings, Inc., Rules Committee. A director of the California Association of REALTORS? since 1999 he served on numerous committees and as Regional Chair for Region #10 (San Benito, Santa Cruz and Monterey Counties) in 2005. He continues to serve as a 2010 C.A.R. Director, regional representative for Professional Standards and C.A.R. Nominating Committee member. He is a member of the California Department of Real Estate Exam Study Committee. Bruce can be contacted by e-mail at:
[email protected].
Table of Contents
1. Starting Your Real Estate Career. Becoming a Real Estate Professional. The Real World of Real Estate. Teams and Partnerships. The Importance of a Successful Attitude. Other Things To Do. Preparation Is Everything (The Business Plan). Planning. Goal Setting. 2. Choosing the Right Broker. General Brokerage. Choosing the Right Broker. Broker/Salesperson Relationships. Continued and Advanced Training. Professional Designations. 3. Ethics, Fair Housing, and RESPA. What Is Ethics? Codes of Ethics. Fair Housing and Antidiscrimination Legislation. The California Business and Professions Code. Commissioner s Rules and Regulations. Sexual Harassment. Case Studies of Ethics, Fair Housing, and RESPA. 4. Mandatory Disclosures. Understanding Mandated Disclosures. Your Fiduciary Responsibilities and Disclosures. Agency Disclosure. Death or AIDS Disclosure. Real Estate Transfer Disclosure Statement (TDS). Agents Inspection Disclosure - How and Why? Seller Financing Disclosure. Environmental Hazards Disclosure. Natural Hazards Disclosure. Common Interest Subdivisions. Preliminary and Final Public Reports (Subdivisions). Right of Rescission. California Association of REALTORS_ Disclosure Chart. 5. Prospecting for Clients and Customers. What Is Prospecting? Do Your Research First. Formulating a Business Plan. The Do-Not-Call List. For Sale By Owners. Expired Listings. Your Sphere of Influence. Geographical Farm. Open House. Building Your Database. 6. Working with Buyers. Sources of Buyers. The First Appointment. Pre-Approved for Financing. Agency Disclosure. Buyer/Broker Agreement. Tips on Showing Property. Buying Signals. 7. Writing and Presenting Effective Purchase Contracts. Selling or Counseling. Writing the Residential Purchase Contract. Understanding the Residential Purchase Agreement (and Receipt for Deposit). Preparing to Present the Offer to Purchase. Negotiating the Offer with the Sellers and Listing Agent. Selling Your Own Listing. Handling Single and Multiple Counteroffers. Buyers Estimated Closing Costs. Setting Up the Escrow Timeline. 8. Preparing for the Listing Appointment. Research Thoroughly First. Competitive Market Analysis (CMA). The Listing Presentation Manual. Estimated Sellers Proceeds Form. 9. The Listing Presentation. The Listing Agreement. Exclusive Authorization and Right to Sell Listing. Presenting the Competitive Market Analysis (CMA) and Your Marketing Plan. Common Seller Objections and How to Handle Them. 10. Servicing the Listing. Your Marketing Plan. Good Communication. Modifying or Extending the Listing Contract. Presenting Offers to Your Sellers. Handling Single or Multiple Counteroffers. Release of Contract. Creating the Escrow Timeline. 11. Real Estate Financing. An Appraisal or an Estimate of Value? Financing Sources. Primary and Secondary Financing. Conforming vs. Nonconforming Loans. Types of Lenders. Types of Loans. Getting the Buyers Pre-Approved (The Financing Process). Real Estate Financing Regulations. 12. Escrow and Title Insurance. Escrow. Title Insurance. 13. The Life of an Escrow. Open Escrow. Order Inspections. Financing. Review Reports. Negotiate Repairs. Property Insurance. The Final Walk-through Inspection. The Closing. 14. Real Estate Taxation Issues. Real Property Taxes. Income Taxes. Tax Shelter. Foreign Investment in Real Property Tax Act. 15. Advertising and Marketing. Advertising and Marketing. A Budget for Your Business Plan. The Advantages of Niche Marketing. Compliance with Department of Real Estate and State and Federal Statute. 16. Alternate Real Estate Careers. Commercial Real Estate Brokerage. Property Management and Leasing. Licensed Real Estate Assistant. Appendix A. Appendix B. Glossary. Index.