Real Estate (194)

194-101. Real Estate Sales Application. (2 Credits)

Gain practical training in the day-to-day transactions encountered by real estate professionals. Apply skills and knowledge of legal documents and sales techniques to case problem situations.

Prerequisites: (Blended Options Proficiency or 890-742 with a minimum grade of S)

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194-110. Intro to Property Assessment. (2 Credits)

Students will learn basic knowledge and skills to perform as an Ad Valorem Appraiser. Subjects covered include the Sales Comparison Approach to value, the Cost Approach to value, Depreciation Techniques, Parcel Identification, Vacant Land Assessment and the Assessment Function.

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194-125. Real Estate Records. (3 Credits)

Become familiar with the real estate record systems used by the individual practitioner, local political jurisdictions, and county, state, and federal governmental agencies.

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194-128. Wisconsin Assessment Law. (2 Credits)

Students will learn basic knowledge of the laws that affect the assessment profession in the State of Wisconsin. Subjects covered include Chapter 70 of the State of Wisconsin Statues, the Wisconsin Property Assessment Manual, the Wisconsin Guide for Board of Review Members and Wisconsin Court cases.

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194-160. Basic Appraisal Principles. (2 Credits)

Gain an introduction and overview of basic appraisal principles, including real property concepts, legal considerations, market value ethics and other economic principles.

Prerequisites: (Blended Options Proficiency or 890-742 with a minimum grade of S)

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194-161. Basic Appraisal Procedures. (2 Credits)

Study valuation procedures and property descriptions geographic characteristics, locations and neighborhoods.

Prerequisites: (Blended Options Proficiency or 890-742 with a minimum grade of S)

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194-169. Assessor Certification Prep. (2 Credits)

The emphasis of the course will be to teach the introductory concepts and use of modern assessment practices.

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194-170. Assessment Commercial Property. (2 Credits)

Gain an understanding and working knowledge of the procedures and techniques used to estimate the market value of commercial properties. Real estate finance and investments are covered, as is the direct capitalization method, analysis of income and expenses, calculation of capitalization rates with or without sales and the gross income multiplier approach.

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194-171. Introduction to Mass Appraisal. (2 Credits)

Learn the differences between single-property appraisal and mass appraisal, the elements of a mass appraisal system and data analysis. Get an introduction to statistical concepts, and develop an understanding of assessment ratio studies and the working knowledge of performance measurement standards and techniques.

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194-173. Building Design & Structure. (3 Credits)

Examine the fundamental concepts of good construction and design and their application to new construction, existing construction, and remodeling projects. Use sketches and drawings for graphic expression. This course is not designed to develop architectural competencies.

Prerequisites: (Blended Options Proficiency or 890-742 (may be taken concurrently) with a minimum grade of S)

Credit for prior learning available

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194-174. Intro to Property Assessment. (2 Credits)

Students will learn basic knowledge and skills to perform as an Ad Valorem Appraiser and ready themselves to pass the State of Wisconsin Assessor Certification examinations.

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194-175. Wisconsin Assessment Law. (2 Credits)

Students will learn basic knowledge of the laws that affect the assessment profession in the State of Wisconsin.

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194-177. Real Estate Brokerage. (3 Credits)

Apply statutory requirements for the management and operation of a real estate brokerage including the processing of forms and contracts per the state guidelines.

Prerequisites: (194-180 with a minimum grade of C and 194-182 with a minimum grade of C)

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194-180. Real Estate Fundamentals. (3 Credits)

Develop a decision-oriented approach to the basic concepts of real estate. Those going into real estate as a career as well as the owners and sellers of business, industrial, and residential property will benefit from this course.

Prerequisites: (Blended Options Proficiency or 890-742 (may be taken concurrently) with a minimum grade of S)

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194-182. Real Estate Law. (3 Credits)

Discuss the basic legal aspects of real estate with an emphasis on the nature of real estate and its ownership.

Prerequisites: (Blended Options Proficiency or 890-742 (may be taken concurrently) with a minimum grade of S)

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194-184. Real Estate Finance. (3 Credits)

Using case studies and other practical applications, explore various aspects of real estate finance. Investigate mortgage markets, types and sources of loans, and federally related loan programs. In addition, analyze topics such as lending policies, regulation and loan qualification, and solve mathematical problems related to real estate financing.

Prerequisites: (194-180 with a minimum grade of C or Consent of instructor ) and (Blended Options Proficiency or 890-742 with a minimum grade of S)

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194-187. Building Design & Structure. (2 Credits)

Examine the fundamental concepts of good construction and design and their application to new construction, existing construction, and remodeling projects. Use sketches and drawings for graphic expression. This course is not designed to develop architectural competencies.

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194-190. Property Management I. (3 Credits)

Focus on the successful management of residential properties and the business of real estate management. Topics include fundamental techniques in property management, property inspection, trend projections of needs and rental rates, marketing plans, budgeting, risk management, operating manuals, maintenance programs and ethics.

Prerequisites: (Blended Options Proficiency or 890-742 (may be taken concurrently) with a minimum grade of S) and (194-180 with a minimum grade of C and 194-182 with a minimum grade of C)

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194-192. Property Management II. (3 Credits)

Focus on the application of the management leasing process to commercial properties, and develop a practical background in the management of shopping centers, office buildings and industrial properties.

Prerequisites: (194-190 with a minimum grade of C)

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194-194. Real Estate Investments. (3 Credits)

Explore the basic concepts of real estate investment and the management of real estate properties for the investor.

Prerequisites: (194-180 with a minimum grade of C and 194-101 with a minimum grade of C and 194-182 with a minimum grade of C) and (Blended Options Proficiency or 890-742 (may be taken concurrently) with a minimum grade of S)

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194-195. Real Estate Management. (2 Credits)

Students will learn the daily operations of running a real estate company including business organization and statutory compliance.

Prerequisites: 194-180 with a minimum grade of C and 194-182 with a minimum grade of C

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194-197. Real Estate Mathematics. (3 Credits)

Develop the math skills used in the real estate business, including basic math, mortgage coefficients and amortization schedules, analytical procedures used in real estate investment and valuation, the relationship of Ellwood approaches to capitalization, and purchase and lease-back calculations.

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194-402. National Standards USPAP. (1.5 Credits)

A course designed to satisfy state appraisal licensing requirements and ethics established by the Appraisal Foundation are covered, as well as, appropriate state statutes and rules. An approved state exam is offered at the conclusion of the course verifying successful completion of required education. Texts required.

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194-458. USPAP 7-Hr Update 2014-2015. (0.7 Credits)

This course provides seven hours of appraiser continuing education in professional standards and code of ethics as required for license and certification renewal. The course will familiarize students with recent changes in the Uniform Standards of Professional Appraisal Practice (USPAP). This course is also approved for continuing education hours for assessors.

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194-477. RE CE I/WI Listing Contracts. (0.5 Credits)

Course 1: Wisconsin Listing Contracts. Focuses on the new WB-1 Residential Listing Contract Exclusive Right to Sell. Covers agency choices including the new language to describe the agency choices. Explores updated delivery methods including email as a form of delivery and how to add email to contracts where it does not already exist. Provides instruction on the revised commission section in the new listing and additional ways in which a buyer can become a protected buyer. Reviews “as-is” sales and what they mean for the licensee and seller. Examines the disclosure requirements when a licensee is also the seller. The topics also include cooperation with other licensees, use of amendments, and marketing and advertising.

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194-478. RE CE II/WI Offers to Purchase. (0.5 Credits)

Course 2: Wisconsin Offers to Purchase. Reviews use of the WB-11 Residential Offer to Purchase. Discusses using the financing, closing of the buyer’s property and secondary offer contingencies. Covers “as-is” sales and what they mean for the buyer and the licensee. Examines pre- and post-closing occupancy agreements. Provides instruction on fees that can affect the transaction such as the transfer fee, homeowner’s association fees and condominium fees. Reviews closing documents after. TILA-RESPA Integrated Disclosure (TRID). Examines the disclosure requirements when the buyer is a licensee. Topics also include safety, scams and the insurability of a property.

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194-479. RE CE III/WI New Developments. (0.5 Credits)

Course 3: Wisconsin New Developments. Updates licensees with the most recent changes and developments in real estate law, practices and procedures. Examines changes to Wisconsin statutes, administrative code provisions and case law. Provides instruction on revised forms including state forms and WRA forms. Covers pending and proposed legislative and regulatory changes, forms revisions and other potential changes to licensing regulations.

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194-480. RE CE IV/Ethic & Best Practice. (0.5 Credits)

Course 4: Ethics and Best Practices. Outlines Wisconsin licensee obligations with respect to the REALTOR Code of Ethics and Fair Housing Law. Topics in this course will highlight arbitration disputes, professional standards enforcement, providing equal services to all clients, and much more. This course will also delve into the Department of Safety and Professional Services’ complaint process, fair housing, and specific articles and sections within the REALTOR Code of Ethics.

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194-481. RE CE V/WI Invest Pr & PropMgt. (0.5 Credits)

Elective B: Wisconsin Investment Property and Property Management. Reviews the different aspects of rental property in Wisconsin. Explores the nuts and bolts of rental property, offering something for everyone, whether an investor, a property manager, or the licensee negotiating the sale. Considers how a licensee influences transactions involving the sale, purchase or lease of rental property. Reviews approved forms and their use in transactions involving rental property. Covers trust account regulations, lead-based paint disclosures and eviction procedure in Wisconsin. Topics also include disposal of abandoned property, registration and permitting, valuing investment property, and the interaction between state law and local ordinance regulating rental properties.

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194-482. RE CE VI/Other WI-apprvd Forms. (0.5 Credits)

Elective D: Wisconsin Condominiums. Examines the use of the approved one-page forms such as notices, amendments, counter-offers, counter-proposals, and cancellation agreements and mutual releases. Explores the correct way to use each form and when it is in use. Provides instruction on when to use a notice and when to use an amendment in connection with a buyer’s home inspection contingency. Considers when and how to use a bill of sale when transferring personal property as part of the real estate transaction. Reviews the important discussion of addenda including who can use them, when they can be used, who can draft them, how to use them and limitations on a licensee’s use. Topics also include the correct way to use the Cancellation Agreement and Mutual Release and how buyers and sellers use these forms in negotiating during a transaction.

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