Florida Real Estate Broker's Guide,9780793176649

Florida Real Estate Broker's Guide

by ;
Edition: 2nd
ISBN13: 9780793176649
ISBN10: 0793176646
Format: Paperback
Pub. Date: 2003-11-01
Publisher(s): Real Estate Education Co
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List Price: $86.67

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Summary

Going beyond the principles and practices studens have already learned, this new edition explores the skills necessary for building and managing a successful real estate brokerage. Based on the revised FREC broker course syllabus, Florida Real Estate Broker's Guide provides a complete source for your broker prelicensing curriculum. Highlights include: * Four new case studies prepare students for realworld practice. * Timely, comprehensive couverage of all course topicsmakes supplemental material unnecessary. * Web resources encourage students to explore keytopics. * Free Instructor Resource Guide includeschapter outlines, matching exercises, vocabularylists and two practice exams.

Table of Contents

Introduction viii
PART 1 GETTING STARTED IN THE REAL ESTATE BROKERAGE BUSINESS 1(128)
Chapter 1 Becoming a Licensed Real Estate Broker
3(22)
Key Terms
3(1)
Overview
3(1)
Introduction
4(1)
Requirements for Licensure
4(7)
Postlicensing Education
11(1)
Continuing Education
11(1)
License Renewal
12(4)
Individuals Who Are Exempt From Licensure
16(2)
Summary
18(2)
Review Questions
20(5)
Chapter 2 Opening a Real Estate Office
25(26)
Key Terms
25(1)
Overview
25(1)
Business Structures That May Be Registered as Brokerage Entities
26(8)
Other Business Forms That May Not Register
34(1)
Fictitious Name Act
35(1)
The Real Estate Office
36(4)
Advertising and Self-Promotion
40(6)
Summary
46(1)
Review Questions
47(4)
Chapter 3 Owning, Managing, and Supervising a Real Estate Office
51(34)
Key Terms
51(1)
Overview
51(1)
Developing a Realistic Business Plan
52(2)
Capital and Start-Up Costs
54(2)
Estimating Income and Expenses-Factors to Consider
56(6)
Franchise vs. Independent Firm
62(2)
Tax Considerations
64(2)
Staff and Sales Personnel
66(13)
Summary
79(1)
Review Questions
80(5)
Chapter 4 Escrow Management
85(24)
Key Terms
85(1)
Overview
85(1)
Establishing Escrow Accounts
86(4)
Broker's Records
90(4)
Escrow Disbursement Dispute Process
94(5)
Notification and Settlement Procedure Requirements for Special Types of Properties
99(1)
Summary
100(4)
Review Questions
104(5)
Chapter 5 Office Inspections and the Disciplinary Process
109(20)
Key Terms
109(1)
Overview
109(1)
Division of Real Estate Authority and Responsibility
110(1)
Disciplinary Procedures
111(12)
Summary
123(1)
Review Questions
124(3)
Case Study
127(2)
PART II VALUING REAL PROPERTY 129(88)
Chapter 6 Overview of Real Estate Valuation
131(22)
Key Terms
131(1)
Overview
131(1)
Introduction to Appraisal
132(3)
Value Definitions For Real Property Appraisal
135(2)
Principles of Value
137(6)
The Appraisal Process
143(4)
Types of Appraisal Reports and Reporting Formats
147(1)
Summary
148(1)
Review Questions
149(4)
Chapter 7 Sales Comparison, Cost Depreciation, and Income Approaches
153(30)
Key Terms
153(1)
Overview
153(1)
Sales Comparison Approach
154(11)
Cost-Depreciation Approach
165(6)
Income-Capitalization Approach
171(6)
Summary
177(1)
Review Questions
178(5)
Chapter 8 Comparative Market Analysis
183(14)
Key Terms
183(1)
Overview
183(1)
Introduction
184(1)
Preparation of a Comparative Market Analysis
184(5)
Case Study-Comparative Market Analysis
189(3)
Summary
192(1)
Review Questions
193(4)
Chapter 9 Basic Business Appraisal
197(20)
Key Terms
197(1)
Overview
197(1)
Fundamentals of Business Appraisal
198(2)
Understanding and Using Financial Statements
200(8)
Valuation Methods
208(2)
Summary
210(1)
Review Questions
211(4)
Case Study
215(2)
PART III LISTING AND SELLING REAL PROPERTY 217(152)
Chapter 10 Brokerage Relationships
219(22)
Key Terms
219(1)
Overview
219(1)
Law of Agency
220(1)
Agency Relationships in General Business Dealings
220(1)
Brokerage Relationships in Florida
221(11)
Summary
232(6)
Review Questions
238(3)
Chapter 11 Contracts
241(34)
Key Terms
241(1)
Overview
241(1)
Entitlement to Commissions
242(4)
Purchase and Sale Contracts
246(1)
Electronic Signatures in the Global and National Commerce Act
247(1)
Documents Necessary to Prepare the Contract Seller Documents
247(1)
Provisions of Real Estate Contracts
248(13)
Disclosure
261(4)
Other Contracts
265(2)
Summary
267(2)
Review Questions
269(6)
Chapter 12 Financing Real Estate
275(38)
Key Terms
275(1)
Overview
275(2)
Mortgages, Notes, and the Rights and Obligations of the Parties
277(3)
Conventional, FHA, and VA Mortgage Loans
280(8)
Mortgages by Method of Payment
288(1)
Mortgages by Payment or Yield Variability
288(3)
Mortgages by Purpose
291(3)
Other Techniques Used in Financing Real Estate
294(2)
Federal Consumer Protection Legislation
296(4)
Residential Loan Underwriting
300(7)
Summary
307(1)
Review Questions
308(5)
Chapter 13 Closing Real Estate Transactions
313(28)
Key Terms
313(1)
Overview
313(1)
The Broker's Role in Closing
314(1)
Preliminary Steps to a Closing
314(5)
Prorating Procedures
319(4)
Preparation of the Closing Statement
323(13)
Summary
336(1)
Review Questions
337(4)
Chapter 14 Federal Income Tax Laws Affecting Real Estate
341(28)
Key Terms
341(1)
Overview
341(1)
Income Tax Treatment-Principal and Second Homes
342(4)
Special Rules
346(1)
Sale of Principal Residence
347(2)
Income Tax Treatment-Real Estate Investment Operations
349(5)
Tax Incentives For Low-Income Housing
354(1)
Sale of Investment Real Estate
355(1)
Methods of Deferring Taxes Upon Disposition (Special Rules)
356(5)
Summary
361(1)
Review Questions
362(4)
Case Study
366(3)
PART IV SPECIALTIES 369(98)
Chapter 15 Investment Real Estate
371(34)
Key Terms
371(1)
Overview
371(1)
Matching Investment Properties with Investor Needs
372(2)
Site Description
374(1)
Structural Characteristics of Income Property Buildings
375(1)
Leases and Lease Terminology
376(4)
Mortgages
380(3)
Investment Analysis
383(3)
Case Study-Timberlane Office Suites
386(13)
Summary
399(1)
Review Questions
400(5)
Chapter 16 Zoning and Planning, Subdividing of Land, and Special Issues
405(12)
Key Terms
405(1)
Overview
405(1)
The Evolution of Land Use Planning in Florida
406(1)
Zoning Regulations
407(3)
Florida Uniform Land Sales Practices Law
410(3)
Federal Laws Regarding Land Use
413(1)
Summary
413(1)
Review Questions
414(3)
Chapter 17 Environmental Concerns Affecting Real Estate Transactions
417(18)
Key Terms
417(1)
Overview
417(1)
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)
418(4)
Asbestos
422(1)
Radon
423(2)
Lead-Based Paint
425(5)
Summary
430(1)
Review Questions
431(4)
Chapter 18 Property Management
435(32)
Key Terms
435(1)
Overview
435(1)
Introduction
436(2)
Property Management Markets
438(2)
Skills Required of a Property Manager
440(1)
The Rental Process
440(6)
The Lease Agreement
446(6)
The Owner-Manager Relationship
452(1)
Staffing and Employee Relations
453(1)
Applicable Federal and State Laws
454(3)
Summary
457(2)
Review Questions
459(8)
Practice Final Exam 467(22)
Appendix 489(13)
Glossary 502(11)
Index 513

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