Real Estate Principles & Practices (National)
Fundamental concepts of real estate practice
Study Topics
Property Ownership
Learn about real vs. personal property, types of ownership (freehold, leasehold), and legal descriptions.
Land Use Controls and Regulations
Understand zoning laws, building codes, and environmental regulations like CERCLA.
Valuation and Market Analysis
Master appraisal methods (sales comparison, cost, income) and market analysis principles.
Financing
Study loan types (FHA, VA, conventional), lending process, Truth in Lending Act, and RESPA.
General Principles of Agency
Understand agency relationships, fiduciary duties (OLDCAR), and disclosure requirements.
Property Disclosures
Know lead paint disclosures, material facts, and seller disclosure requirements.
Contracts
Learn about offer & acceptance, consideration, contingencies, and contract types.
Leasing and Property Management
Study lease types, landlord/tenant law, and property management duties.
Transfer of Title
Understand deeds, title insurance, closing process, recording, and escrow.
Practice of Real Estate
Master Fair Housing laws, ADA compliance, and advertising regulations.
Real Estate Calculations
Practice prorations, commission calculations, property tax, and loan interest computations.
Study Guide
Key Study Areas for National Content:
- Property Rights: Fee simple, life estates, easements, encumbrances
- Contracts: Elements, types, contingencies, breach remedies
- Agency: Fiduciary duties (OLDCAR), disclosure requirements
- Financing: Loan programs, qualification, documents
- Valuation: Three approaches to value, market analysis
- Transfer: Deeds, title insurance, closing procedures
- Law: Fair Housing, environmental regulations
- Math: Area, commission, proration calculations