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1 Chapter 1
CHAPTER 1: Introduction to Real Estate
I. Explain benefits of "How to Read this Book"
and instruct students to read this section
II. Explain the Transaction Overview flow of the
textbook
III. Explain the many Career Opportunities avail-
able in real estate
A. Residential Brokerage
B. Commercial Brokerage
C. Industrial Brokerage
D. Farm Brokerage
E. Property Management
F. Rental Listing Services and the need for a real estate license.
G. Real Estate Appraising
H. Government Service
I. Land Development
]. Urban Planning
K. Mortgage Financing
L. Securities and Syndication
M. Consulting
N. Research and Education
O. Full-Time Investor
IV. Explain License Requirements, and when that
topic will be covered in the course
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OVERVIEW
Real estate is a unique subject, and because it is unique, real estate has spawned
complex legal theories and very unusual fact situations. No two situations are
ever exactly alike, and the subject never ceases to be intellectually stimulating.
Everyone has a favorite story about real estate, and it has remained a fascinating
topic for centuries. This fascination is what makes real estate such a fun, interesting
business.
HOW TO READ TEXT
At the beginning of each chapter (2 through 25), there is a list of Key Terms that
Students shouldl learn, along with brief definitions, and a brief introduction of topics to be
covered. Ask students to read these before starting the chapter. In the body of the chapter these
terms, as well as other terms important to real estate, are set in boldface type and
are given a more in-depth discussion. At the end of each chapter are questions
and problems.
Give class the website and contact information for your
state real estate commission. Information for all states
available at http://www.ARELLO.org. This is the
home page for the Association of Real Estate License
Law Officials.
Chapter 1 2
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