STANDARD COMPETENCIES:

 

 I.      Describe the major ownership rights in real estate including real and personal property, estate in land.

 II.     Describe the types of ownership in real estate.

 III.    Define the limitations of ownership in real estate.

 IV.     Distinguish between the evidences of ownership in real estate.

 V.      Display a basic knowledge of the way real estate can be transferred.

 VI.     Describe ownership in condominiums, cooperatives, and time shares.

 VII.    Display a basic knowledge of the law of agency and Colorado Brokerage   relationships.

 VIII.   Describe the basic Colorado statutory relationships.

 IX.     Describe the practical applications of the agency and brokerage relationships.

 X       Demonstrate knowledge of the law of contracts.

 XI.     Display a working knowledge of legal descriptions.

 XII.    Compare and describe the valuation of real estate.

 XIII.   Demonstrate a basic knowledge of financing of real estate incuding foreclosure, types of financing, qualifying the buyer, government regulations and illegal financing practices.

 XIV.    Prepare documents and estimates relating to settlement procedures.

 XV.     Demonstrate a working knowledge of the income tax aspects of real estate.

 XVI.    Demonstrate a basic knowledg of the Special Areas of real estate including business opportunities, syndicates and securities, mobile homes, leasing/property management, and fair housing.

 XVII.   Demonstrate knowledge of the application of laws, rules and standard of practices.

 XVIII.  Develop and enhance knowledge and awareness of current real estate statutes, regulations, legal issues, developments and practices.

 XIX.    Demonstrate a working knowledge of Colorado real estate license law.

 XX      Discuss and review the Conway-Bogue decision.

 XXI.    Display a basic knowledge of the Colorado Fair Housing Act.

 XXII.   Demonstrate the Appraiser Licensing Act.

 XXIII.  Demonstrate a basic knowledge of brokerage relationship agreement, including detailed content and preparation of the commission approved forms.

 XXIV.   Prepare a minimum of one of each type of listing and buyer brokerage contract plus one of each type of addendum.

 XXV.    Explain in detail the content and preparation of the commission approved sales contracts.

 XXVI.   Complete at least three sales contract problems that include examples of new financing, loan assumptions, and owner carry financing, plus a counterproposal and amend/extent agreement.

 XXVII.  Display knowledge of exchange agreements, promissory notes and trust deeds.

 XXVIII. Discuss the Seller`s property disclosure form.

 XXIX.   Demonstrate a basic knowledge of exhange agreements, promissory notes, and trust deeds.

 XXX     Demonstrate a basic knowledge of proper record keeping procedures to maintain and account for funds belonging to others.

 XXXI.   Prepare the necessary documents to close a real estate transaction and account for all funds received and disburses as well as comprehensive review of the legal documents.

 TOPICAL OUTLINE:

 

 I.      Exam Testing

 II.     Principles and Practice

 III.    Advanced Law

 IV.     Colorado Law and Contracts

 V.      Closings

 VI.     Escrows and Record Keeping

 VII.    Real Estate Math