Real Estate

RES 101 Real Estate Transactions (3-0) 3 hrs.
Provides instruction in basic real estate fundamentals for those who wish to qualify for a real estate sales license. Surveys real estate law, interests in real estate ownership, the real estate business, financing and appraisal. Also covers agency relationships and responsibilities, disclosure, and environmental issues.
(NOTE: Students must be 21 years of age to qualify for the State of Illinois Real Estate Exam.)

RES 105 Real Estate Math Applications (1-0) 1 hr.
Explains use of mathematics in the real estate business and drills in land area and volume, capitalization rates, computing valuations and prorations. Emphasizes logical approach to arithmetic situations.
Recommended Corequisite:
RES 101.

RES 110 Real Estate Survey (1-0) 1 hr.
Covers the most current real estate laws, both Illinois and federal, affecting the real estate business as well as the information required of real estate licensees.

RES 140 Standards of Professional Appraisal Practice (1-0) 1 hr.
Examines the uniform standards of professional appraisal practice, including explanatory comments and ethics provisions. Fulfills one of the educational requirements necessary to become a licensed appraiser.

RES 141 Basic Principles of Appraisal (2-0) 2 hrs.
Introduces the foundations of real estate appraisal principles including the role of the professional real estate appraiser, how an appraisal is conducted, and the importance of the appraisal in a real estate transaction. Includes methodology, terminology, and procedures of valuing real property. Fulfills one of the educational requirements necessary to become a licensed appraiser.

RES 142 Single Family Appraisal/Residential Valuation Procedures (2-0) 2 hrs.
Examines the nature of real property value. Covers the various functions and methods of estimating value with emphasis on residential property. Fulfills one of the educational requirements necessary to become a licensed appraiser.

RES 190 Contracts and Conveyancing (1-0) 1 hr.
Covers deeds, contracts, options, leases and other legal instruments used in the use and transfer of ownership of Illinois real estate. Fulfills one part of the State of Illinois education requirements to obtain a Real Estate Broker's license.
Prerequisite:
RES 101 with a grade of "C" or better, or consent of instructor.

RES 192 Advanced Principles of Real Estate (1-0) 1 hr.
Covers the most current real estate agency, disclosure, environmental and license laws affecting the real estate business. Fulfills one part of the State of Illinois education requirements to obtain a Real Estate Broker’s license in compliance with the Real Estate License Act of 2000.
Prerequisite:
RES 101 with a grade of "C" or better, or consent of instructor.

RES 194 Real Estate Finance (1-0) 1 hr.
Examines mortgages, articles of agreement, primary and secondary money markets. Borrower and property evaluations are considered. Both residential and commercial financing are covered. Fulfills one part of the State of Illinois education requirements to obtain a Real Estate Broker's license.
Prerequisite:
RES 101 with a grade of "C" or better, or consent of instructor.

RES 196 Property Management (1-0) 1 hr.
Considers aspects of legal responsibility as to accounting, reporting, insuring and protecting income property. Americans with Disabilities Act, civil rights laws and regional occupancy laws are to be covered. Problem solving is stressed. Fulfills one part of the State of Illinois education requirements to obtain a Real Estate Broker's license.
Prerequisite:
RES 101 with a grade of "C" or better, or consent of instructor.

RES 198 Brokerage Administration (1-0) 1 hrs.
Covers operation of a real estate brokerage company including ethics, management skills and record and account management. Fulfills one part of the State of Illinois education requirements to obtain a Real Estate Broker’s license in compliance with the Real Estate License Act of 2000.
Prerequisite:
RES 101 with a grade of "C" or better, or consent of instructor.

RES 220 Real Estate Investment Analysis I (3-0) 3 hrs.
Presents the beginning skills used in interpreting investment potential of real property. Highly quantitative, requires advanced calculators and some knowledge of personal computers.
Prerequisite:
RES 101 with a grade of "C" or better.

RES 221 Real Estate Investment Analysis II (3-0) 3 hrs.
Continues study of real estate investment potential. Case studies research into the current marketplace, and applications using modern methodology, calculators, and personal computers will be used.
Prerequisite:
RES 220 with a grade of "C" or better.