This is the Table of contents for the Real Estate Trading Services licensing manual
- Preface: Introduction to Real Estate
Land Ownership
Land Value
Elements of the Real Estate Market
Characteristics of Real Property
Organization of the Real Estate Brokerage Industry - Chapter 1: Fundamentals of Law
The Sources of Our Laws
Categories Within Our Legal System
Real Property Law
The Judicial System in Practice: The British Columbia Court System - Chapter 2: The Real Estate Services Act
Requirements for Licensing
The Licensing Body – The Real Estate Council
Real Estate Foundation, Errors and Omissions Insurance Corporation and Compensation Fund Corporation
Other Real Estate Related Organizations
Licensing System
Licensee Conduct
Property Management
Additional Responsibilities of a Brokerage
Discipline and Enforcement
The Real Estate Development Marketing Act - Chapter 3: What the Purchaser Buys: Estates and Interests in Land
The Evolution of Real Property Law and the Doctrine of Estates
Fee Simple Estate
Life Estate and Estate Pur Autre Vie
Leasehold Estates
The Extent of “Ownership” in Land
Interests in Land Less Than Estates
Co-Ownership of Land - Chapter 4: The Subdivision of Land and Title Registration in British Columbia
Who Owns the Land?
How is Land Divided?
How a Strata Development is Created
Types of Strata Property
Title Registration in British Columbia
The Torrens System of Land Registration
Land Title Offices, Searching Title, and the Registration Process
First Nations Land Registration
Contaminated Sites Registry
Manufactured Homes
Appendix 4.1: Sample Excerpts from Strata Plans - Chapter 5: The Professional Liability of Real Estate Licensees
Common Grounds of Liability Against Licensees
Negligence
Misrepresentations and Deceit
Errors in Drafting Agreements
Breach of Fiduciary Duty
Statutory and Industry Liability
What is the Bottom Line?
Introduction to Tort Law
Trespass
Private Nuisance
Liability of an Occupier - Chapter 6: Commercial and Residential Tenancies
Nature of the Relationship
Types of Tenancies and Termination
Residential Tenancy Arbitrations
The Express Rights and Obligations of the Parties
The Implied Rights and Obligations of the Parties
Miscellaneous Provisions of the Residential Tenancy Act - Chapter 7: Strata Properties (Condominiums) and Cooperatives in British Columbia
The Strata Corporation
How a Strata Corporation is Governed
Finances
Bylaws and Rules
Repairs
Legal Proceedings
Strata Titles Compared with Cooperative Corporations
Appendix 7.1: Sample Excerpts From Strata Plans
Appendix 7.2: Strata Property Act Form B – Information Certificate
Appendix 7.3: Strata Property Act Form F – Certificate of Payment
Appendix 7.4: Strata Property Act Form J – Rental Disclosure Statement
Appendix 7.5: Strata Property Act Form K – Notice of Tenant’s Responsibilities
- Chapter 8: Financial Statements
Forms of Organization
Accounting
Generally Accepted Accounting Principles (GAAP)
Financial Statements
The Balance Sheet (or Statement of Financial Position)
The Income Statement (Revenue and Expense or Operating or Profit and Loss Statement)
Taxable Income
Relationship Between the Income Statement and the Balance Sheet
Closing Balance Sheet – Proprietorship
Closing Balance Sheet – Partnership
Corporate Financial Statements
Explanatory Notes and Comments
Accounting Software
Appendix 8.1: Balance Sheet
Appendix 8.2: Income Statement - Chapter 9: Professional Ethics
Why Study Professional Ethics?
Professionalism
What are Professional Ethics?
The REALTOR® Code of Ethics of the Canadian Real Estate Association
Duty to Uphold the Law
Duty to Client in Real Estate Transactions
Avoidance of Conflicting Interests: Impartiality
Pecuniary Relations with Clients
Responsibility to Other Parties
Duty to the Profession
Disciplinary Hearings Before a Real Estate Board
Appendix 9.1: CREA Standards of Business Practice and Interpretations - Chapter 10: The Law of Contract
Preface
Introduction
Void, Illegal, Voidable and Unenforceable Contracts
Offer
Acceptance
Consideration
Legal Intention
Capacity
Legal Object
Genuine Consent
Termination of a Contract
Remedies - Chapter 11: Contracts for Real Estate Transactions
The Requirement of Writing
Listing Contracts
Contract of Purchase and Sale
Conditions Precedent and Subsequent
Risk Management for Licensees
Appendix 11.1: Sample Listing Contract
Appendix 11.2: Contract of Purchase and Sale
Appendix 11.3: Property Disclosure Statement - Chapter 12: Law of Agency
Agent’s Appointment and Authority
Types of Real Estate Agency Listing Contracts
Relationship between the Real Estate Agent and the Principal
Agency Disclosure
The Common Law Duties of the Agent to the Principal
The Duties of the Principal to the Agent
Relationship Between the Agent and the Third Party
Appendix 12.1: Two Limited Dual Agency Agreements
Appendix 12.2: Working With a REALTOR® - Chapter 13: Introduction to Mortgage Finance
Role of Financing in Real Estate Transactions
The Capital Market
The Characteristics of Mortgage Loans as Investments
Development of Contemporary Mortgage Lending
Classification of Mortgage Loans
Mortgage Repayment Plans
Mortgage Interest Rates and the Federal Interest Act
Using the HP 10BII/10BII+ Calulator in this Course
The Basis of Interest Calculations
Future Value and Present Value of Lump Sums
Annuities: Payments
Calculating Interest Only Payments - Chapter 14: Interest Rates and Mortgages
Equivalent Interest Rates
Application of Equivalent Rates To Periodic Mortgage Payments
Analysis of Constant Payment Mortgages - Chapter 15: Introduction to Mortgage Law
Introduction to Mortgage Law
Legal and Equitable Mortgages
Implied Terms of a Mortgage
Express Terms of a Mortgage
Special Types of Mortgages
Federal Legislation Over Mortgages
Provincial Legislation Over Mortgages
Assignment of the Mortgage
Assumption of the Mortgage
Novation and Impairment of the Security
Priorities
Future Advances
Lenders’ Remedies
Judicial Sale
Action on the Personal Covenant
Quitclaim Deed
Possession and Sale
Agreements for Sale
Appendix 15.1: Wrap-Around Mortgages - Chapter 16: Mortgage Analysis in Real Estate Practice
Impact of Financing on Real Estate Transactions
Portable Mortgages
Bonused Mortgages: Impact of Brokerage Fees
Appendix 16.1: The Calculation of APR - Chapter 17: Mortgage Underwriting and Borrower Qualification
Residential (Owner-Occupied) Mortgage Underwriting
Financial Covenants of the Borrower
Advancing the Loan and Collection of Payments
Commercial Mortgage Loan Underwriting - Chapter 18: Local Government Law
The Three Levels of Government
The Rationale for the Regulatory System
The Planning Process
Official Community Plans
Rural Land Use Bylaws
Zoning
Non-Conforming Uses and The Board of Variance
Subdivision
Building Bylaws and Inspection
Licensing Bylaws
Appendix 18.1: Site Profiles and Development Screening under the Environmental Management Act - Chapter 19: Taxes on Real Property
Who Pays the Real Property Tax
The Tax Base: What is Taxed
Basis of Assessment: What “Value” is Taxed
The Tax Rates
Administrative Procedures
Exemptions and Reliefs
Assessment Appeals
Assessment Appeals
Appendix 19.1: Notice of Assessment
Appendix 19.2: Property Tax Notice - Chapter 20: Building Design and Construction
Current Building Standards
Metric Construction Modules
Materials Used
Architectural Information
Apartment Building Construction
Considerations in Apartment Building Construction
Defects and Maintenance in Apartment Building Construction
Apartment Building Construction Costs
Residential Housing Classifications
Components of a Building
Building Envelope Systems
Service Systems
Domestic Heating Systems
Plumbing Systems
Electrical Service
Finishes
Residential Housing Defects
Green Construction
Appendix 20.1: Building Measurement Guidelines
Appendix 20.2: Measurement Practices Bulletin CP-15 - Chapter 21: Introduction to Real Estate Appraisal
Purpose of Appraisal
Licensing Requirements for Appraisers
Subject of an Appraisal
Nature of Value
Variations in Sale Prices
Legal Considerations for Appraisers
Overview of the Appraisal Process
Step 1: Defining the Appraisal Problem
Step 2: Scope of Work Determination
Step 3: Data Collection and Analysis
Step 4: Market Analysis
Step 5: Selection of the Appropriate Appraisal Approach
Step 6: Reconciliation of Value Indications and Final Opinion of Value
Step 7: Communicate Findings - Chapter 22: Direct Comparison (Comparative) and Cost Approaches of Appraisal
Purpose of the Appraisal
Direct Comparison (Comparative) or Market Approach
Analysis of Market Transactions
Adjustments for Value
Other Applications of the Comparative Approach
Scope of the Comparative Approach
Limitations of the Comparative Approach
The Comparative Approach and the Comparative Market Analysis
The Cost Approach
Determining Market Value by the Cost Approach
Depreciation
Illustration of the Cost Approach
Scope of the Cost Approach
Limitations of the Cost Approach
Appendix 22.1: Calculations Used to Find Market Value of a Vendor Takeback
Appendix 22.2: Sample Construction Costs of a Single Family Residence
Appendix 22.3: Sample Comparative Market Analysis (CMA) - Chapter 23: The Income or Investment Approach of Appraisal
Establishing Net Operating Income
Required Rate of Return
Capitalization Process
Case Study 1
Case Study 2 - Chapter 24: Statements of Adjustments and Completion of the Sale
The Contract of Purchase and Sale
Closing Procedures
General Introduction to Statements of Adjustments
Items on Statements
Appendix 24.1: Building Location Survey
Appendix 24.2: Statements of Adjustements - Chapter 25: Introduction to Marketing
Marketing and Real Estate: An Overview
Marketing Theory
Integrated Marketing
The Communication Process
Generational Marketing
Advertising
Other Types of Marketing
Measuring the Effectiveness of Advertising and Marketing
The Listing Presentation
Developing a Listing Marketing Program
The Competition Act - Chapter 26: Technology and the Real Estate Licensee
Determining Technology Requirements
Computer Hardware and Peripherals
Understanding Computer Software
Personal Information Management
The Real Estate Licensee’s Website
Email
Social Media
Technological Resources
Online Protocol
Security, Computer, and Consumer Protection
Your grade will be calculated as an average of all work, according to the percentages noted in your course workbook, so no need to worry if you don’t pass an assignment or 2.
