Chapter One Introduction to the Real Estate Business

This lecture covers:

Definition of Real Estate Land and Real Property

Industry Career Fields

Forces of Supply and Demand

Physical and Economic Characteristics of Real Estate

Chapter Two: Real Property and the Law

This chapter lecture covers

• Definition of Land, Real Estate and Real Property
• The Bundle of Legal Rights
• Real Property V. Personal Property
• Fixtures vs. Trade Fixtures
• Physical and Economic Characteristics of Real Estate
• 7 Bodies of Law that Affect Real Estate

Chapter Three: Concepts of Home Ownership

• Types of residential property
• Advantages of Home Ownership
• Tax Benefits of real estate
• Real Property Insurance
• Replacement vs. Actual cost
• Flood Insurance

Chapter Four: Real Estate Agency

This audio lecture will cover:

• The Law of Agency
• Agency in Illinois ( Designated Agency)
• Important Agency Definitions
• Fiduciary( Client) Duties
• Residential Real Property Disclosure Report
• Misrepresentation, Fraud and Concealment
• Stigmatized Properties
• Customer Level Services
• Creation and Termination and Disclosure of Agency
• Types of Agency Relationships
• Dual Agency

Chapter Five: Real Estate Brokerage

This Audio Lecture will cover:

• Types of  Illinois real estate Licensees
• Sponsoring and Managing Brokers
• IRS Considerations : Independent Contractor vs. Employees
• Managing Broker Responsibilities
• The Policy and Procedure Manual
• Licensee Safety
• E and O Insurance
• Personal Assistants: Licensed and Un-licensed
• Broker Compensation and Commissions
• Procuring Cause
• Anti Trust and Consumer Protection Laws

Chapter Six: Brokerage Agreements

This audio Lecture will cover:

• Various Types of Brokerage Agreements
• Statute of Frauds
• Types of Listing Agreements
• Net Listing Agreements
• The Listing Process
• The Listing Agreement
• Listing Agreement Issues
• Minimum Services
• Broker Protection Clauses
• Buyer Agency Agreements
• Termination of Broker Employment Agreements

Chapter Seven: Interests in Real Estate

This Chapter audio lecture will cover:

• The Governmental Powers ( PETE)
• Estates In Land
• Freehold vs. Leasehold
• Fee simple Defeasible and Life Estates
• Legal Life Estates
• Encumbrances ( Liens, Easements, Restrictions)
• Types of Easements
• Creating and Terminating and Easements
• Riparian and V. Littoral Water rights
• Accretion, Erosion and Avulsion

Chapter Eight: Forms of Ownership

This audio Lecture will cover:

• Ownership In SEveralty
• Co-Ownership
• Tenancy In Common, Joint Tenancy,and Tenancy by the Entirety
• Partition suit
• Community Property
• Land Trusts
• Ownership by Business Organization
• Condominiums and Cooperatives
• Time Share

Chapter Nine: Legal Descriptions

This Chapter audio Lecture will cover:

• Methods of Describing Real Estate
• The Rectangular Survey System
  • Townships
  • Sections
  • Legal Descriptions and Acerage
• Lot and Block System
• Surveys
• Datum

Chapter Ten: Real Estate Taxes and Liens

This Chapter Audio Lecture will cover:

• Types of Liens
• Effects of Lines of Title
• Priority Of Liens
• Subordination
• Real Estate Tax Liens
• General "Ad Valorum" Property tax
• Special Assessments and SSA's
• Other Liens
  • Mortgage Liens
  • Mechanics Liens
  • Judgments
  • IRS Liens
  • Estate and Inheritance Tax liens
  • Corporate Franchise Tax Liens