Phase Two - Fundamentals of Real Estate - Sections 1 to 6

Section 1

Real estate is often described as a people business. This section introduces concepts of working successfully with others. Interpersonal relations, communication skills, conflict resolution and negotiation techniques are covered. This section will also help students prepare for a successful career as you learn business planning, time management skills, basic marketing and sales techniques.

Section 2

Most real estate buyers require some financing assistance. This section introduces students to the basics of mortgage financing, including the relationship between the borrower and lender, qualification criteria, mortgage types and terminology. Students will learn about the financial calculator used in REAP and how to perform simple calculations.

Section 3

Many legal concepts affect real estate. The basics of contract law and the obligations real estate industry members owe to clients and customers are discussed here. Other laws applicable to property ownership, land use controls and condominium ownership are also described.

Section 4

Real estate in Alberta is governed by the Real Estate Act. In this section students review the Act to understand how it applies to a career in real estate.

Section 5

Environmental issues affecting property can cause concerns in a real estate transaction, making it important for industry members to understand the issues and how to protect their clients. This section also includes information on how industry members can protect themselves through risk reduction practices and various insurance products, including the errors and omissions insurance program for real estate industry members.

Section 6

Parging, fascia, cantilever and efflorescence - are just a few of the terms students will define in this section. Students will study the construction components of buildings and various types of buildings and how to accurately measure their size.