IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

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------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/master05.xml Content-Transfer-Encoding: quoted-printable Content-Type: text/xml; charset="utf-8" ------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/pres.xml Content-Transfer-Encoding: quoted-printable Content-Type: text/xml; charset="utf-8" ------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0016.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

CHAPTER 15
The Real Estate Industry

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Chapter 15

1.Trace the development of the Califo= rnia Real Estate Industry.

2.Describe the major career fields in the real estate industry.

3.Outline the organization of the California Department of Real Estate (DRE)

4.List the requirements to become a = licensed real estate salesperson or broker.

5.Discuss Real Estate trade associations.

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IMPORTANT CALIFORNIA EVENTS

<= span style=3D'mso-special-format:bullet;position:absolute;left:-2.79%;font-fami= ly: Wingdings'>§Realtor®

<= span style=3D'mso-special-format:bullet;position:absolute;left:-2.02%'>•<= /span>Real Estate License law

–<= /span>1st state to enact a law for licensees

<= span style=3D'mso-special-format:bullet;position:absolute;left:-2.72%'>–<= /span>1917 first state license law

<= span style=3D'mso-special-format:bullet;position:absolute;left:-2.72%'>–<= /span>Real Estate Act of 1919

<= span style=3D'mso-special-format:bullet;position:absolute;left:-2.72%'>–<= /span>Written examination

<= span style=3D'mso-special-format:bullet;position:absolute;left:-2.79%;font-fami= ly: Wingdings'>§Realtists®

§<= /span>

------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0022.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

§Transfer disclosure statem= ent (TDS)
Easton vs. Strassburger

§Agency disclosure

§ Courses required to take Brokers <= /span>examination increased to eight

§Most sales transactions of= 1 to 4 units now require mandatory disclosures =

§Lead based paint

§Seismic, flood, environmen= tal hazards

§Smoke detector and water he= ater bracing

R E Laws

------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0002.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

SALES SPECIALIZATION

§R= esidential

§C= ommercial

§I= ndustrial

§B= usiness opportunities

§A= gricultural

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LAND USE SPECIALIZATION

§L= and development consultant

§L= and development

§U= rban Planning

§R= eal estate securities

§S= yndicator

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PROFESSIONAL SERVICES

§R= eal estate counselor

§P= roperty manager

§I= nvestment analyst

§A= ppraiser

§L= oan officers

§R= eal estate educator

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ALLIED OPPORTUNITIES <= /v:shape>

<= span style=3D'visibility:hidden'>§

§T= itle company officers

§E= scrow agents

§R= ight-of-Way Agents: Position for governmental agencies <= /div>

§E= ducator - Author

§E= mployees of: ? ? ? ?

------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0006.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

CA DEPARTMENT OF REAL ESTATE

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.28%;font-fami= ly: Wingdings'>§DRE = = ; &n= bsp; (www.dre.ca.gov)

§§§Governor appoints R. E. Commissioner who:

•<= /span>Administers testing and licensing&= #13;

•<= /span>Disciplines licensees who violate laws

•<= /span>Regulates subdivisions =

•<= /span>Issues rules and regulations <= /span>

•<= /span>Initiates real estate education and research

•<= /span>Uses advisory committees

------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0012.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

§1959/1960 – Only DRE approved courses:

§Real Estate Practice <= /span>

§Real Estate Finance

§Real Estate Appraisal =

§Legal Aspects of Real Estate

§After December 31, 1995

§Real Estate Principles (required prior to testing)

§As of July 1, 2003

§Real Estate Practice (requ= ired within 18 months)

Basic Education requirement increased

------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0018.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

Real Estate Licenses

•About 350,000 California licensees

<= span style=3D'font-size:125%;visibility:hidden'>•

• Bro= ker licensees =3D 30%

<= span style=3D'font-size:125%;visibility:hidden'>•

•Salesperson licensees =3D 70%

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------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/slide0007.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE

LICENSING REQUIREMENTS (Salesperson) Af= ter Oct 1, 2007

•<= /span>At least 18 years of age

•<= /span>Honest and truthful&= #13;

•<= /span>Complete college lev= el R.E. Principles, R.E. Practice, and 1 elective prior to state exam test.

•<= /span>Electives: www.dre.ca.gov

•

•<= /span>Pass examination (15= 0 Q/70%) 3 Hr 15 Min <= /span>

•<= /span>Submit license application, fingerprints and pay required fee

•<= /span> = ;

•=

= •

•<= /span> = ;

•=

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LICENSING REQUIREMENTS (Broker)

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.67%'>•<= /span>AGE: Minimum 18 years of age

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.67%'>•<= /span>EXPERIENCE (within past 5 years):

<= span style=3D'mso-special-format:bullet;position:absolute;left:-3.56%'>•<= /span>2 years experience as licensed salesperson

or= 1 year experience plus 2 ye= ar college degree

or 4 year degree with no experi= ence

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§Education: <= /u>8 college level R. E. courses

1.Real Estate Practice (RE 13)

2.Legal Aspects of Real Estate (RE 12A)
3.Real Estate Finance (RE 14A)

4.Real Estate Appraisal (RE 40)

5.Real Estate Economics (RE 16) or Acctg (Bus1A

§6.7.8. --Pick 3 from the following:

§Real Estate Principles (RE 11)

§Property Management (RE 19)

§Mortgage Loan Brokering (RE 31)

§Real Estate Escrows (RE 26)

§Business Law (Law 5)

§Advanced Law (RE12B)

§Advanced Finance (RE14B)

§Advanced Appraisal (RE42)&#= 13;

Broker Education

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•<= /span>EXPERIENCE:

•

•2 years experience (within past 5 years)

•

•

•or   4 year degree

Broker Experience Requirement

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Broker Exam Requirement

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.95%;font-fami= ly: Wingdings'>§Pass examination (200 Q= - 75%)

&= sect;

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.95%;font-fami= ly: Wingdings'>§ 5 hr= s to take the exam

§

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.95%;font-fami= ly: Wingdings'>§Submit application

§

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.95%;font-fami= ly: Wingdings'>§Pay fees

§

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.95%;font-fami= ly: Wingdings'>§Submit Live-Scan fingerprints

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License renewal:
<= /v:shape>

<= span style=3D'font-family:"Times New Roman";font-size:86%'>§<= /span>45 hours C/E each 4 ye= ar license renewal period

§<= /span>First<= span style=3D'font-family:"Times New Roman";font-size:86%'> renewal on or after January 1, = 1996 requires 3 hours C/E each of:

&= sect; (1) Ag= ency (2) Ethic (3)Trust Fund (4) Fair Housing

<= span style=3D'font-family:"Times New Roman";font-size:86%'>§<= /span>Second= and all subsequent renewals:

<= span style=3D'font-family:"Times New Roman"'>§<= span style=3D'font-family:"Times New Roman"'>45 hours C/E which must include:

&= sect;(1) 6 hour survey c= ourse covering Ethics, Agency,Trust Fund Handling and Fair Housing

&= sect;(2) At least 18 hou= rs of consumer protection courses

<= span style=3D'font-family:"Times New Roman";font-size:86%'>§<= /span>ECC may offer the following 45 hour C/E courses:

<= span style=3D'font-family:"Times New Roman";font-size:83%'>§<= /span>RE 13, RE12A, RE14, = RE19, RE40 =3D 45 hours C/E

§<= /span>Does NOT include Age= ncy, Ethics, Trust Fund, and Fair Housing        3 hour C/E required courses.

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REAL ESTATE TRADE ASSOCIATIONS

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.26%;font-fami= ly: Wingdings'>§National Association of Realtors ® (NAR)

§Realtor

§Realtor-Associate

<= span style=3D'mso-special-format:bullet;position:absolute;left:-3.76%;font-fami= ly: Wingdings'>§Realtor ®- Unauthorized use of the term = Realtor = ® constitutes a violation of the DRE regulations. <= /span>

<= span style=3D'mso-special-format:bullet;position:absolute;left:-4.09%;font-fami= ly: Wingdings'>§California Association of Realtors® (CAR)

<= span style=3D'mso-special-format:bullet;position:absolute;left:-3.78%;font-fami= ly: Wingdings'>§National Association of Real Estate Brokers ®

§NAREB

§Realtists

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DESIGNATIONS

§A= IREA – MAI

§A= SREC - CRE

§C= CIM – CRB, CRS

§G= RI

§I= REM – CPM, AMO

§W= CR

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Math pre-test

1.To obtain a DRE salesperson <= span style=3D'font-family:"Times New Roman"'>license, you may miss how many questions on the salesperson exam?

2.How many minutes and how many seconds in time is allowed for eac= h one question on the salesperson exam?

3.How many questions are you allowed= to miss on the broker’s exam?

4.To spread the required hours of C/= E equally over the renewal period, a= bout how many hours would the licensee = have to complete each year on a = per year basis?

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ENDSHOW_MESG=3D"End of slide show, click to exit.", SCREEN_MODE=3D"Fram= es", gIsEndShow=3D0, NUM_VIS_SLDS=3D20, SCRIPT_HREF=3D"script.js", FULLSCR_= HREF=3D"fullscreen.htm"; var gCurSld =3D gPrevSld =3D 1, g_offset =3D 0, gNtsOpen =3D gHasNts =3D gO= tlTxtExp =3D 0, gHasNarration =3D 0, gOtlOpen =3D true window.gPPTHTML=3DSupportsPPTHTML() var gMainDoc=3Dnew Array(new hrefList("slide0016.htm",1,-1,1),new hrefList(= "slide0017.htm",1,-1,1),new hrefList("slide0001.htm",1,-1,1),new hrefList("= slide0022.htm",1,-1,1),new hrefList("slide0002.htm",1,-1,1),new hrefList("s= lide0003.htm",1,-1,1),new hrefList("slide0004.htm",1,-1,1),new hrefList("sl= ide0005.htm",1,-1,1),new hrefList("slide0006.htm",1,-1,1),new hrefList("sli= de0012.htm",1,-1,1),new hrefList("slide0018.htm",1,-1,1),new hrefList("slid= e0007.htm",1,-1,1),new hrefList("slide0008.htm",1,-1,1),new hrefList("slide= 0013.htm",1,-1,1),new hrefList("slide0014.htm",1,-1,1),new hrefList("slide0= 020.htm",1,-1,1),new 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{=20 href=3Dnew String(document.location.href)=20 Start=3Dhref.indexOf('!')+1=20 End=3Dhref.lastIndexOf('/')+1=20 if (End < Start)=20 return href.substring(0, Start)=20 else=20 return href.substring(0, End)=20 } return ''; } function GetTags(base,tag) { if(g_supportsPPTHTML) return base.all.tags(tag); else return base.getElementsByTagName(tag); } function UpdNtsPane(){ if(frames["PPTNts"]) PPTNts.location.replace( MHTMLP= refix+GetHrefObj( gCurSld ).mNtsHref ) } function UpdNavPane( sldIndex ){ if(gNavLoaded) PPTNav.UpdNav() } function UpdOtNavPane(){ if(gOtlNavLoaded) PPTOtlNav.UpdOtlNav() } function UpdOtlPane(){ if(gOtlLoaded) PPTOtl.UpdOtl() } function SetHasNts( fVal ) { if( gHasNts !=3D fVal ) { gHasNts=3DfVal UpdNavPane() } } function ToggleOtlText() { gOtlTxtExp=3D!gOtlTxtExp UpdOtlPane() } function ClearMedia() { // Clear any sounds playing before launching another browser window. Other= wise, // in fullscreen mode, you'll continue to hear the sound in the frames mod= e. if (PPTSld.pptSound) PPTSld.pptSound.loop =3D 0; } function FullScreen() {=20 if ( PPTSld.g_animUseRuntime ) PPTSld.document.body.pause(); ClearMedia(); var href =3D ( document.location.protocol =3D=3D 'mhtml:') ? FULLSCR_HREF = : FULLSCR_HREF+"#"+GetHrefObj(gCurSld).mSldHref; if(PPTNav.event.ctrlKey) { var w =3D (window.screen.availWidth * 1.0) / 2.0 var h =3D w * (PPTSld.g_origH * 1.0) / PPTSld.g_origW win =3D window.open( MHTMLPrefix+href,null,"toolbar=3D0,resizable=3D1,top= =3D0,left=3D0," + "width=3D"+ w + ",height=3D" + h ); if( win.document.body && PPTSld.g_animUseRuntime ) win.document.body.PPTSldFrameset=3Dwindow; } else { win =3D window.open( MHTMLPrefix+href,null,"fullscreen=3Dyes" ); if( win.document.body && PPTSld.g_animUseRuntime ) win.document.body.PPTSldFrameset=3Dwindow; } } function ToggleVNarration() { rObj=3DPPTSld.document.all("NSPlay") if( rObj && !PPTSld.g_animUseRuntime ) { if( (rObj.playState =3D=3D 1)||(rObj.playState =3D=3D 0) ) rObj.Play() else if( rObj.playState =3D=3D 2 ) rObj.Pause() else return; } else if( PPTSld.g_animUseRuntime ) { narObj =3D PPTSld.document.all("narrationID") if( narObj ) narObj.togglePause() } } function GetCurSldNum() { =20 obj=3DGetHrefObj(gCurSld) if( obj.mOrigVis =3D=3D 1 ) return obj.mSldIdx else =20 return gCurSld } function GetNumSlds() { =20 if( GetHrefObj(gCurSld).mOrigVis =3D=3D 1 ) return GetSldList().mNumVisSlds; else return GetSldList().mList.length } function GetSldNum( href ) { for(ii=3D0; ii 1 ) PopSldList(); else if( !IsFramesMode() ) { if( gLoopCont ) GoToFirst() else EndShow() } } function GoToPrevSld() { ii=3DgCurSld-1 if( ii > 0 ) { obj=3DGetHrefObj(ii) while ( obj && ( obj.mVis =3D=3D 0 ) && ( ii>0 ) ) obj=3DGetHrefObj(--ii) if( ii =3D=3D 0 ) ii=3D1 GoToSldNum(ii) } } function GoToFirst(){ GoToSld( GetHrefObj(1).mSldHref ) } function GoToLast() { ii=3DGetSldList().mList.length if( ii !=3D gCurSld ) GoToSld( GetHrefObj(ii).mSldHref ) } function GoToSldNum( num ) { if( PPTSld.event ) PPTSld.event.cancelBubble=3Dtrue obj =3D GetHrefObj( num ) obj.mVis=3D1 gPrevSld=3DgCurSld gCurSld =3D num; PPTSld.location.replace(MHTMLPrefix+obj.mSldHref) if( IsFramesMode() ) { UpdNavPane(); UpdOtlPane(); UpdNtsPane() } } function GoToSld( href ) { if( PPTSld.event ) PPTSld.event.cancelBubble=3Dtrue GetHrefObj( GetSldNum(href) ).mVis=3D1 PPTSld.location.replace(MHTMLPrefix+href) } function SldUpdated( id ) { if( id =3D=3D GetHrefObj(gCurSld).mSldHref ) return gPrevSld=3DgCurSld gCurSld=3DGetSldNum(id) if( IsFramesMode() ) { UpdNavPane(); UpdOtlPane(); UpdNtsPane() } } function PrevSldViewed(){ GoToSld( GetHrefObj(gPrevSld).mSldHref ) } function HasPrevSld() { return ( gIsEndShow || ( gCurSld !=3D 1 && GetHrefO= bj( gCurSld-1 ).mVis =3D=3D 1 )||( GetCurSldNum() > 1 ) ) } function HasNextSld() { return (GetCurSldNum() !=3D GetNumSlds()) } function CloseWindow() { if( HideMenu() ) return; =09 var event =3D PPTSld.event; if( !IsFramesMode() && event && (event.keyCode=3D=3D27 || event.keyCode=3D= =3D32 || event.type=3D=3D"click" ) ) window.close( self ); CatchNumKeys( self, event ); } function Unload() { gIsEndShow=3D0; } function SetupEndShow() { gIsEndShow=3D1; PPTSld.document.body.scroll=3D"no"; PPTSld.document.onkeypress=3DCloseWindow; PPTSld.document.onclick=3DCloseWindow; PPTSld.document.oncontextmenu=3D_CM; } function EndShow() { if( IsFramesMode() ) return if( PPTSld.event ) PPTSld.event.cancelBubble=3Dtrue doc=3DPPTSld.document var dir =3D doc.body.dir if( dir !=3D "rtl" ) dir =3D "ltr"; doc.open() doc.writeln('

' + ENDSHOW_MESG + '
') doc.close() } function SetSldVisited(){ GetSldList().mList[gCurSld-1].mVisited=3Dtrue } function IsSldVisited(){ return GetSldList().mList[gCurSld-1].mVisited } function hrefList( sldHref, visible, advDelay, advClk ) { this.mSldHref=3D this.mNtsHref =3D sldHref this.mOrigVis=3D this.mVis =3D visible this.mVisited=3D false this.mAdvDelay=3D advDelay this.mAdvOnClk=3D advClk } function SldList(arr,curSld,fEnd) { this.mCurSld =3D curSld; this.mList =3D new Array(); var idx =3D 1; for(ii=3D0;ii 0) { PushSldList(sldList,fEnd); gCurSld =3D 1; } else if( PPTSld.event ) PPTSld.event.cancelBubble=3Dtrue } function PushSldList(arr,fEnd) { var ii =3D gSldStack.length; gSldStack[ii] =3D new SldList(arr,gCurSld,fEnd); GoToSld( gSldStack[ii].mList[0].mSldHref ); } function PopSldList() { if (gSldStack[gSldStack.length-1].fEndShow) EndShow() else { gCurSld =3D gSldStack[gSldStack.length-1].mCurSld; gSldStack[gSldStack.length-1] =3D null; gSldStack.length--; var sldList =3D gSldStack[gSldStack.length-1]; GoToSld( sldList.mList[gCurSld - 1].mSldHref ); } } var custShowList=3Dnew Array(); /********************************************* Navigation button implementation There are 2 types of buttons: ImgBtn, TxtBtn implemented as function objects. They share a similiar interface so the event handlers can call SetActive, for example, on a button=20 object without needing to know exactly=20 what type of button it is. **********************************************/ //---------------------------------- function ImgBtn( oId,bId,w,action ) //---------------------------------- { var t=3Dthis t.Perform =3D _IBP t.SetActive =3D _IBSetA t.SetInactive=3D _IBSetI t.SetPressed =3D _IBSetP t.SetDisabled=3D _IBSetD t.Enabled =3D _IBSetE t.ChangeIcon =3D null t.UserAction =3D action t.ChgState =3D _IBUI t.mObjId =3D oId t.mBorderId=3D bId t.mWidth =3D w t.mIsOn =3D t.mCurState =3D 0 } function _IBSetA() { if( this.mIsOn ) { obj=3Dthis.ChgState( gHiliteClr,gShadowClr,2 ) obj.style.posTop=3D0 } } function _IBSetI() { if( this.mIsOn ) { obj=3Dthis.ChgState( gFaceClr,gFaceClr,1 ) obj.style.posTop=3D0=20 } } function _IBSetP() { if( this.mIsOn ) { obj=3Dthis.ChgState( gShadowClr,gHiliteClr,2 ) obj.style.posLeft+=3D1; obj.style.posTop+=3D1 } } function _IBSetD() { =20 obj=3Dthis.ChgState( gFaceClr,gFaceClr,0 ) obj.style.posTop=3D0=20 } function _IBSetE( state ) { var t=3Dthis GetObj( t.mBorderId ).style.visibility=3D"visible" if( state !=3D t.mIsOn ) { t.mIsOn=3Dstate if( state ) t.SetInactive() else t.SetDisabled() } } function _IBP() { var t=3Dthis if( t.mIsOn ) { if( t.UserAction !=3D null ) t.UserAction() if( t.ChangeIcon ) { obj=3DGetObj(t.mObjId) if( t.ChangeIcon() ) obj.style.posLeft=3Dobj.style.posLeft+(t.mCurState-4)*t.mWidth else obj.style.posLeft=3Dobj.style.posLeft+(t.mCurState-0)*t.mWidth } t.SetActive() } =20 } function _IBUI( clr1,clr2,nextState ) { var t=3Dthis SetBorder( GetObj( t.mBorderId ),clr1,clr2 ) obj=3DGetObj( t.mObjId ) obj.style.posLeft=3Dobj.style.posLeft+(t.mCurState-nextState)*t.mWidth-obj= .style.posTop t.mCurState=3DnextState return obj } //----------------------------------------- function TxtBtn( oId,oeId,action,chkState ) //----------------------------------------- { var t=3Dthis t.Perform =3D _TBP t.SetActive =3D _TBSetA t.SetInactive=3D _TBSetI t.SetPressed =3D _TBSetP t.SetDisabled=3D _TBSetD t.SetEnabled =3D _TBSetE t.GetState =3D chkState t.UserAction =3D action t.ChgState =3D _TBUI t.mObjId =3D oId t.m_elementsId=3D oeId t.mIsOn =3D 1 } function _TBSetA() { var t=3Dthis if( t.mIsOn && !t.GetState() ) t.ChgState( gHiliteClr,gShadowClr,0,0 ) } function _TBSetI() { var t=3Dthis if( t.mIsOn && !t.GetState() ) t.ChgState( gFaceClr,gFaceClr,0,0 ) } function _TBSetP() { if( this.mIsOn ) this.ChgState( gShadowClr,gHiliteClr,1,1 ) } function _TBSetD() { =20 this.ChgState( gFaceClr,gFaceClr,0,0 ) this.mIsOn =3D 0 } function _TBSetE() { var t=3Dthis if( !t.GetState() ) t.ChgState( gFaceClr,gFaceClr,0,0 ) else t.ChgState( gShadowClr,gHiliteClr,1,1 ) t.mIsOn =3D 1 } function _TBP() { var t=3Dthis if( t.mIsOn ) {=20 if( t.UserAction !=3D null ) t.UserAction() if( !t.GetState ) return if( t.GetState() ) t.SetPressed() else t.SetActive() } =20 } function _TBUI( clr1,clr2,lOffset,tOffset ) { SetBorder( GetObj( this.mObjId ),clr1,clr2 ) Offset( GetObj( this.m_elementsId ),lOffset,tOffset ) } function Offset( obj, top, left ){ obj.style.top=3Dtop; obj.style.left=3Dle= ft } function SetBorder( obj, upperLeft, lowerRight ) { s=3Dobj.style; s.borderStyle =3D "solid" s.borderWidth =3D 1=20 s.borderLeftColor =3D s.borderTopColor =3D upperLeft s.borderBottomColor=3D s.borderRightColor =3D lowerRight } function GetBtnObj(){ return gBtnArr[window.event.srcElement.id] } function BtnOnOver(){ b=3DGetBtnObj(); if( b !=3D null ) b.SetActive() } function BtnOnDown(){ b=3DGetBtnObj(); if( b !=3D null ) b.SetPressed() } function BtnOnOut(){ b=3DGetBtnObj(); if( b !=3D null ) b.SetInactive() } function BtnOnUp() { b=3DGetBtnObj() if( b !=3D null ) b.Perform() else Upd() } function GetNtsState(){ return parent.gNtsOpen } function GetOtlState(){ return parent.gOtlOpen } function GetOtlTxtState(){ return parent.gOtlTxtExp } function NtsBtnSetFlag( fVal ) { s=3Ddocument.all.item( this.m_flagId ).style s.display=3D"none" if( fVal ) s.display=3D"" else s.display=3D"none" } function _BSetA_Border(){ b =3D gBtnArr[this.mObjId]; if( b !=3D null ) b.S= etActive() } function _BSetI_Border(){ b =3D gBtnArr[this.mObjId]; if( b !=3D null ) b.S= etInactive() } function _BSetP_Border(){ b =3D gBtnArr[this.mObjId]; if( b !=3D null ) b.S= etPressed() } function _BSetA_BorderImg() {=20 b =3D gBtnArr[this.mBorderId]=20 if( b !=3D null && this.mIsOn && !b.GetState() ) { obj=3Dthis.ChgState( gHiliteClr,gShadowClr,2 ) obj.style.posTop=3D0 } } function _BSetI_BorderImg() {=20 b =3D gBtnArr[this.mBorderId] if( b !=3D null && this.mIsOn && !b.GetState() ) { obj=3Dthis.ChgState( gFaceClr,gFaceClr,1 ) obj.style.posTop=3D0 } } var gHiliteClr=3D"THREEDHIGHLIGHT",gShadowClr=3D"THREEDSHADOW",gFaceClr=3D"= THREEDFACE" var gBtnArr =3D new Array() gBtnArr["nb_otl"] =3D new TxtBtn( "nb_otl","nb_otlElem",parent.ToggleOtlPan= e,GetOtlState ) gBtnArr["nb_otlElem"] =3D new TxtBtn( "nb_otl","nb_otlElem",parent.ToggleOt= lPane,GetOtlState ) gBtnArr["nb_nts"] =3D new ImgBtn( "nb_nts","nb_ntsBorder",10,parent.ToggleN= tsPane ) gBtnArr["nb_nts"].SetActive =3D _BSetA_BorderImg; gBtnArr["nb_nts"].SetInactive =3D _BSetI_BorderImg; gBtnArr["nb_ntsBorder"] =3D new TxtBtn( "nb_ntsBorder","nb_ntsElem",parent.= ToggleNtsPane,GetNtsState ) gBtnArr["nb_ntsElem"] =3D new TxtBtn( "nb_ntsBorder","nb_ntsElem",parent.To= ggleNtsPane,GetNtsState ) gBtnArr["nb_prevBorder"] =3D gBtnArr["nb_prev"]=3D new ImgBtn( "nb_prev","n= b_prevBorder",30,parent.GoToPrevSld ) gBtnArr["nb_nextBorder"] =3D gBtnArr["nb_next"]=3D new ImgBtn( "nb_next","n= b_nextBorder",30,parent.GoToNextSld ) gBtnArr["nb_sldshw"]=3D new ImgBtn( "nb_sldshw","nb_sldshwBorder",18,parent= .FullScreen ) gBtnArr["nb_sldshwBorder"] =3D new TxtBtn( "nb_sldshw","nb_sldshwBorder",pa= rent.FullScreen,null ) gBtnArr["nb_sldshwBorder"].SetActive =3D _BSetA_Border; gBtnArr["nb_sldshwBorder"].SetInactive =3D _BSetI_Border; gBtnArr["nb_sldshwText"] =3D new TxtBtn( "nb_sldshw","nb_sldshwText",parent= .FullScreen,null ) gBtnArr["nb_sldshwText"].SetActive =3D _BSetA_Border; gBtnArr["nb_sldshwText"].SetInactive =3D _BSetI_Border; gBtnArr["nb_voice"] =3D gBtnArr["nb_voiceBorder"] =3D new ImgBtn( "nb_voice= ","nb_voiceBorder",18,parent.ToggleVNarration ) gBtnArr["nb_otlTxtBorder"] =3D gBtnArr["nb_otlTxt"]=3D new ImgBtn( "nb_otlT= xt","nb_otlTxtBorder",23,parent.ToggleOtlText ) gBtnArr["nb_ntsBorder"].m_flagId=3D "nb_nts" gBtnArr["nb_ntsBorder"].SetFlag =3D NtsBtnSetFlag gBtnArr["nb_otlTxt"].ChangeIcon=3D GetOtlTxtState /********************************************* Context menu implementation _CM() is the function that's hooked up to the oncontextmenu event. Once we're asked to show the menu, we first build it by creating DIVs on-the-fly. Then we position it=20 within the screen area so it doesn't get clipped. Creating the DIVs using createElement() means we don't have to write out any extra HTML into the slide HTML files. **********************************************/ var sNext=3D"Next",sPrev=3D"Previous",sEnd=3D"End Show",sFont=3D"Arial",sAr= row=3D"Arrow",sFreeform=3D"Freeform",sRect=3D"Rectangle",sOval=3D"Oval" function ShowMenu() { BuildMenu(); var doc=3DPPTSld.document.body,x=3DPPTSld.event.clientX+doc.scrollLeft,y= =3DPPTSld.event.clientY+doc.scrollTop m =3D PPTSld.document.all.item("ctxtmenu") m.style.pixelLeft=3Dx if( (x+m.scrollWidth > doc.clientWidth)&&(x-m.scrollWidth > 0) ) m.style.pixelLeft=3Dx-m.scrollWidth m.style.pixelTop=3Dy if( (y+m.scrollHeight > doc.clientHeight)&&(y-m.scrollHeight > 0) ) m.style.pixelTop=3Dy-m.scrollHeight m.style.display=3D"" } function _CM() { if( !parent.IsFullScrMode() ) return; if(!PPTSld.event.ctrlKey) { ShowMenu() return false } else HideMenu() } function BuildMenu() { if( PPTSld.document.all.item("ctxtmenu") ) return var mObj=3DCreateItem( PPTSld.document.body ) mObj.id=3D"ctxtmenu" mObj.style.visibility=3D"hidden" var s=3DmObj.style s.position=3D"absolute" s.cursor=3D"default" s.width=3D"120px" SetCMBorder(mObj,"menu","black") var iObj=3DCreateItem( mObj ) SetCMBorder( iObj, "threedhighlight","threedshadow" ) iObj.style.padding=3D2 CreateMenuItem( iObj,sNext,M_GoNextSld,M_True ) CreateMenuItem( iObj,sPrev,M_GoPrevSld,M_HasPrevSld ) =09 CreateSeparator( iObj ) CreateMenuItem( iObj,sEnd,M_End,M_True ) mObj.style.visibility=3D"visible" } function Cancel() { window.event.cancelBubble=3Dtrue; window.event.returnVa= lue=3Dfalse } function Highlight() { ChangeClr("activecaption","threedhighlight") } function Deselect() { ChangeClr("threedface","menutext") } function Perform() { e=3DPPTSld.event.srcElement if( e.type=3D=3D"menuitem" && e.IsActive() ) e.Action() else PPTSld.event.cancelBubble=3Dtrue } function ChangeClr( bg,clr ) { e=3DPPTSld.event.srcElement if( e.type=3D=3D"menuitem" && e.IsActive() ) { e.style.backgroundColor=3Dbg e.style.color=3Dclr } } function M_HasPrevSld() { return( parent.HasPrevSld() ) } function M_GoNextSld() { if( gIsEndShow ) M_End(); else GoToNextSld() } function M_GoPrevSld() { if( gIsEndShow ) { gIsEndShow=3D0; history.back();= PPTSld.event.cancelBubble=3Dtrue; } else GoToPrevSld() } function M_True() { return true } function M_End() { window.close( self ) } function CreateMenuItem( node,text,action,eval ) { var e=3DCreateItem( node ) e.type=3D"menuitem" e.Action=3Daction e.IsActive=3Deval e.innerHTML=3Dtext if( !e.IsActive() ) e.style.color=3D"threedshadow" e.onclick=3DPerform e.onmouseover=3DHighlight e.onmouseout=3DDeselect s=3De.style; 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charset="us-ascii" IMPORTANT EVENTS IN CALIFORNIA REAL ESTATE ------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/outline.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"

No= tes

Slide Show

Outline

1

CHAPTER 15
The Real Estate Industry

2

Chapter 15

Trace the development of the California Real Estate Industry.

Describe the major career fields in the real estate industry.

Outline the organization of the California Department of Real Estate (DRE)

List the requirements to become a licensed real estate salesperson or broker.

Discuss Real Estate trade associations.

3

IMPORTANT CALIFO= RNIA EVENTS

Realtor®

Real Estate License law

1st state to enact a law for licensees

1917 first state license law

Real Estate Act of 1919

Written examination

Realtists®

4

R E Laws

Transfer disclosure statement (TDS)
Easton vs. Strassburger

Agency disclosure

Courses required to ta= ke Brokers examination increased to eight

Most sales transactions of 1 to 4 units now require mandatory disclo= sures

Lead based paint

Seismic, flood, environmental hazards

Smoke detector and water heater bracing

5

SALES SPECIALIZA= TION

Residential

Commercial

Industrial

Business opportunities

Agricultural

6

LAND USE SPECIAL= IZATION

Land development consultant

Land development

Urban Planning

Real estate securities

Syndicator

7

PROFESSIONAL SER= VICES

Real estate counselor

Property manager

Investment analyst

Appraiser

Loan officers

Real estate educator

8

ALLIED OPPORTUNI= TIES

Title company officers

Escrow agents

Right-of-Way Agents: Position for governmental agencies

Educator - Author

Employees of: ? ? ? ?<= /li>

9

CA DEPARTMENT OF= REAL ESTATE

DRE        = ;            &n= bsp;    (www.dre.ca.gov)

Financed by Subdivision and license fees

Created by Legislature

Governor appoints R. E. Commissioner who:

Administers testing and licensing

Disciplines licensees who violate laws

Regulates subdivisions

Issues rules and regulations

Initiates real estate education and research

Uses advisory committees

10

Basic Education requirement increased

1959/1960 – Only DRE approved courses:

Real Estate Practice

Real Estate Finance

Real Estate Appraisal

Legal Aspects of Real Estate

After December 31, 1995

Real Estate Principles (required prior to testing)

As of July 1, 2003

Real Estate Practice (required within 18 months)

11

Real Estate Lic= enses

About 350,000 Californ= ia licensees

Broker licensees =3D 3= 0%

Salesperson licensees =3D 70%

12

LICENSING REQUI= REMENTS (Salesperson) After Oct 1, 2007

At least 18 years of age

Honest and truthful

Complete college level R.E. Principles, R.E. Practice, and 1 elective prior to state exam test.

Electives: www.dre.ca.gov

Pass examination (150 Q/70%) 3 Hr 15 Min

Submit license application, fingerprints and pay required fee

13

LICENSING REQUI= REMENTS (Broker)

AGE: Minimum 18 years = of age

EXPERIENCE (within past 5 years):

2 years experience as licensed salesperson

or   1 year exper= ience plus 2 year college degree

or   4 year degre= e with no experience

14

"Education= "

Education: 8 college level R. E. courses=

Real Estate Practice (RE 13)

Legal Aspects of Real Estate (RE 12A)

Real Estate Finance (RE 14A)

Real Estate Appraisal (RE 40)

Real Estate Economics (RE 16) or Acctg (Bus1A

6.7.8. --Pick 3 from the following:

Real Estate Principles (RE 11)

Property Management (RE 19)

Mortgage Loan Brokering (RE 31)

Real Estate Escrows (RE 26)

Business Law (Law 5)

Advanced Law (RE12B)

Advanced Finance (RE14B)

Advanced Appraisal (RE42)

15

"EXPERIENC= E"

EXPERIENCE:

2 years experience (within past 5 years)

or   1 year exper= ience plus 2 year college degree

or   4 year degre= e

16

Broker Exam Req= uirement

Pass examination (200 = Q - 75%)

5 hrs to take the exam=

Submit application

Pay fees

Submit Live-Scan fingerprints

17

License renewal= :

45 hours C/E each 4 year license renewal period

First renewal on or after January 1, 1996 requires 3 hours C/E each= of:

(1) Agency (2) Ethic (3)Trust Fund (4) Fair Housing

Second and all subsequent renewals:

45 hours C/E which m= ust include:

(1) 6 hour survey course covering Ethics, Agency,Trust Fund Handl= ing and Fair Housing

(2) At least 18 hours of consumer protection courses

ECC may offer the following 45 hour C/E courses:

RE 13, RE12A, RE14, RE19, RE40 =3D 45 hours C/E

Does NOT include Agency, Ethics, Trust Fund, and Fair Housing      &nb= sp; 3 hour C/E required courses.

18

REAL ESTATE TRA= DE ASSOCIATIONS

National Association of Realtors ® (NAR)

Realtor

Realtor-Associate

Realtor ®- Unauthorized use of the term Realtor ® constitut= es a violation of the DRE regulations.

California Association of Realtors® (CAR)

National Association of Real Estate Brokers ®

NAREB

Realtists

19

DESIGNATIONS

AIREA – MAI

ASREC - CRE

CCIM – CRB, CRS

GRI

IREM – CPM, AMO

WCR

20

Math pre-test

To obtain a DRE salesperson license, you may miss how many questions= on the salesperson exam?

How many minutes and how many seconds in time is allowed for each one question on the salesperson exam?

How many questions are you allowed to miss on the broker’s exa= m?

To spread the required hours of C/E equally over the renewal period, about how many hours would the licensee have to complete each year o= n a per year basis?

= =
------=_NextPart_01C87346.3B40B320 Content-Location: file:///C:/4F8B5EB9/RE11Ch15TheRealEstateIndustry_files/filelist.xml Content-Transfer-Encoding: quoted-printable Content-Type: text/xml; charset="utf-8" ------=_NextPart_01C87346.3B40B320--

1	CHAPTER 15 The Real Estate Industry
2	Chapter 15 Trace the development of the California Real Estate Industry. Describe the major career fields in the real estate industry. Outline the organization of the California Department of Real Estate (DRE) List the requirements to become a licensed real estate salesperson or broker. Discuss Real Estate trade associations.
3	IMPORTANT CALIFO= RNIA EVENTS Realtor® Real Estate License law 1st state to enact a law for licensees 1917 first state license law Real Estate Act of 1919 Written examination Realtists®
4	R E Laws Transfer disclosure statement (TDS) Easton vs. Strassburger Agency disclosure Courses required to ta= ke Brokers examination increased to eight Most sales transactions of 1 to 4 units now require mandatory disclo= sures Lead based paint Seismic, flood, environmental hazards Smoke detector and water heater bracing
5	SALES SPECIALIZA= TION Residential Commercial Industrial Business opportunities Agricultural
6	LAND USE SPECIAL= IZATION Land development consultant Land development Urban Planning Real estate securities Syndicator
7	PROFESSIONAL SER= VICES Real estate counselor Property manager Investment analyst Appraiser Loan officers Real estate educator
8	ALLIED OPPORTUNI= TIES Title company officers Escrow agents Right-of-Way Agents: Position for governmental agencies Educator - Author Employees of: ? ? ? ?<= /li>
9	CA DEPARTMENT OF= REAL ESTATE DRE = ; &n= bsp; (www.dre.ca.gov) Financed by Subdivision and license fees Created by Legislature Governor appoints R. E. Commissioner who: Administers testing and licensing Disciplines licensees who violate laws Regulates subdivisions Issues rules and regulations Initiates real estate education and research Uses advisory committees
10	Basic Education requirement increased 1959/1960 – Only DRE approved courses: Real Estate Practice Real Estate Finance Real Estate Appraisal Legal Aspects of Real Estate After December 31, 1995 Real Estate Principles (required prior to testing) As of July 1, 2003 Real Estate Practice (required within 18 months)
11	Real Estate Lic= enses About 350,000 Californ= ia licensees Broker licensees =3D 3= 0% Salesperson licensees =3D 70%
12	LICENSING REQUI= REMENTS (Salesperson) After Oct 1, 2007 At least 18 years of age Honest and truthful Complete college level R.E. Principles, R.E. Practice, and 1 elective prior to state exam test. Electives: www.dre.ca.gov Pass examination (150 Q/70%) 3 Hr 15 Min Submit license application, fingerprints and pay required fee
13	LICENSING REQUI= REMENTS (Broker) AGE: Minimum 18 years = of age EXPERIENCE (within past 5 years): 2 years experience as licensed salesperson or 1 year exper= ience plus 2 year college degree or 4 year degre= e with no experience
14	"Education= " Education: 8 college level R. E. courses= Real Estate Practice (RE 13) Legal Aspects of Real Estate (RE 12A) Real Estate Finance (RE 14A) Real Estate Appraisal (RE 40) Real Estate Economics (RE 16) or Acctg (Bus1A 6.7.8. --Pick 3 from the following: Real Estate Principles (RE 11) Property Management (RE 19) Mortgage Loan Brokering (RE 31) Real Estate Escrows (RE 26) Business Law (Law 5) Advanced Law (RE12B) Advanced Finance (RE14B) Advanced Appraisal (RE42)
15	"EXPERIENC= E" EXPERIENCE: 2 years experience (within past 5 years) or 1 year exper= ience plus 2 year college degree or 4 year degre= e
16	Broker Exam Req= uirement Pass examination (200 = Q - 75%) 5 hrs to take the exam= Submit application Pay fees Submit Live-Scan fingerprints
17	License renewal= : 45 hours C/E each 4 year license renewal period First renewal on or after January 1, 1996 requires 3 hours C/E each= of: (1) Agency (2) Ethic (3)Trust Fund (4) Fair Housing Second and all subsequent renewals: 45 hours C/E which m= ust include: (1) 6 hour survey course covering Ethics, Agency,Trust Fund Handl= ing and Fair Housing (2) At least 18 hours of consumer protection courses ECC may offer the following 45 hour C/E courses: RE 13, RE12A, RE14, RE19, RE40 =3D 45 hours C/E Does NOT include Agency, Ethics, Trust Fund, and Fair Housing &nb= sp; 3 hour C/E required courses.
18	REAL ESTATE TRA= DE ASSOCIATIONS National Association of Realtors ® (NAR) Realtor Realtor-Associate Realtor ®- Unauthorized use of the term Realtor ® constitut= es a violation of the DRE regulations. California Association of Realtors® (CAR) National Association of Real Estate Brokers ® NAREB Realtists
19	DESIGNATIONS AIREA – MAI ASREC - CRE CCIM – CRB, CRS GRI IREM – CPM, AMO WCR
20	Math pre-test To obtain a DRE salesperson license, you may miss how many questions= on the salesperson exam? How many minutes and how many seconds in time is allowed for each one question on the salesperson exam? How many questions are you allowed to miss on the broker’s exa= m? To spread the required hours of C/E equally over the renewal period, about how many hours would the licensee have to complete each year o= n a per year basis?