REAL102 Real Estate Practice and Liability
Department of Business, Innovation, and Legal Studies: Real Estate
- I. Course Number and Title
- REAL102 Real Estate Practice and Liability
- II. Number of Credits
- 3 credits
- III. Number of Instructional Minutes
- 2250
- IV. Prerequisites
- REAL101 (C or better)
- Corequisites
- None
- V. Other Pertinent Information
- This course will utilize a learning management space to supplement course materials. Successful completion of REAL101 Real Estate Fundamentals and REAL102 Real Estate Practice and Liability is required to sit for the Pennsylvania Real Estate Salesperson License Examination.
- VI. Catalog Course Description
- This course is designed to provide students with an overview of real estate license law/rules, legal liability, and risk reduction in Pennsylvania. Specific topics include negligence, fraud, and government rules/laws. Students learn key areas of potential liability, avoiding liability, and how to identify/understand the role of government/laws.
- VII. Required Course Content and Direction
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Course Learning Goals
Students will:
- Identify the basic techniques, procedures, regulations and ethics involved in a residential real estate transaction;
- Accurately complete the forms and documents used in real estate transactions and complete the required documents;
- Explain the basic concepts of real estate practices in Pennsylvania, including fair housing, listing, settlement and surveys;
- Analyze areas of potential liability and steps to avoid such liability in Pennsylvania; and
- Identify the role of government and the laws that can impact a buyers' rights and interests in real property.
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Planned Sequence of Topics and/or Learning Activities
The following topics are presented:
- Residential brokerage
- Real estate transactions and related documents
- Fair housing
- Listing
- Settlement
- Surveys
- Negligence
- Negligent representation
- Fraud
- Limiting Liability
- Government role and laws
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Assessment Methods for Course Learning Goals
Exams, quizzes, classroom exercises, class or online participation, and/or projects as specified by the area faculty and described in the individual instructor's course syllabus will be utilized. -
Reference, Resource, or Learning Materials to be used by Student:
See course syllabus.
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Review/Approval Date - 9/99; Revised 12/18/2015