21St Century Standards Profile

21st Century Standards Profile

Business and Marketing

Course Title: Real Estate Marketing WVEIS Code 0441

Student’s Name______

School______Instructor______

Course Description: This area of study introduces students to real estate basics that include the scope of the real estate business, usage of land, land description, ownership, contracts, deeds, mortgages, title search and closes, liens, financing sources, the appraisal process, investments in real estate, and the sales and marketing process. Students will broach real estate marketing and sales through ethics, human, employee, and customer relations, use of product knowledge, and the use of advertising and the media. Exposure to real estate terminology, forms, and contracts is an integral part of this class. Students will utilize problem-solving techniques and participate in hands-on activities to develop an understanding of course concepts. Teachers should provide each student with real world learning opportunities and instruction related to marketing occupations. Students are encouraged to become active members of the student organizationDECA, the national student organization for those enrolled in marketing education. DECA is an integral component of the program and provides curricular opportunities that enhance student achievement. Teachers should utilize relevant DECA activities to support experiential learning. The West Virginia Standards for 21st Century Learning include the following components: 21st Century Content Standards and 21st Century Learning Skills and Technology Tools. All West Virginia teachers are responsible for classroom instruction that integrates learning skills, technology tools, and content standards and objectives.

Level of Competence:

Above Mastery: The student demonstrates exceptional and exemplary performance with distinctive and sophisticated application of knowledge and skills that exceed standard. The student can independently solve problems and is self-directed.

Mastery:The student demonstrates competent and proficient performance and shows a thorough and effective application of knowledge and skills that meet standard. Application of knowledge and skills is thorough and effective and the student can work independently.

Partial Mastery: The student demonstrates basic but inconsistent performance of fundamental knowledge and skills characterized by errors and/or omissions. Performance needs further development and supervision.

Content Standards and Objectives / Above Mastery / Mastery / Partial Mastery / Date / Comments
Standard 1: Economy and Social Impact of Real Estate
Objectives / The student will
ME.O.RLEM.1.1 / recognize the role of a real estate professional.
ME.O.RLEM.1.2 / assess real estate as an economic trend indicator.
ME.O.RLEM.1.3 / demonstrate how the real estate market is affected by supply and demand.
ME.O.RLEM.1.4 / discover the forms of promotions most frequently used in real estate.
ME.O.RLEM.1.5 / utilize general advertising guidelines.
ME.O.RLEM.1.6 / illustrate print, broadcast, outdoor/transit, and specialty media.
ME.O.RLEM.1.7 / research local real estate values and market conditions.
Standard 2: Property Rights and Fundamentals of Ownership
Objectives / The student will
ME.O.RLEM.2.1 / recognize the concept of bundle of rights.
ME.O.RLEM.2.2 / distinguish among land, real estate, and real property.
ME.O.RLEM.2.3 / determine the difference between personal property and real property, including the differences between fixtures and trade fixtures.
ME.O.RLEM.2.4 / classify the different types of property ownership. (e.g., freehold, life estate, etc.)
ME.O.RLEM.2.5 / determine the steps leading to adverse possession.
ME.O.RLEM.2.6 / examine the powers of government that may limit ownership of real estate. (e.g., eminent domain, taxation, police power, escheat)
ME.O.RLEM.2.7 / establish the difference between an easement and an encroachment.
ME.O.RLEM.2.8 / recognize the use of private restrictive covenants affecting real property.
ME.O.RLEM.2.9 / illustrate the methods by which land use is controlled.
Standard 3: Contracts
Objectives / The student will
ME.O.RLEM.3.1 / examine an express contract (both written and oral) and an implied contract.
ME.O.RLEM.3.2 / distinguish between a bilateral contract (both written and oral) and of an implied contract.
ME.O.RLEM.3.3 / differentiate among the legal effects of a contract (void, voidable, unenforceable) including illustrations of each.
ME.O.RLEM.3.4 / examine the term statute of limitations.
ME.O.RLEM.3.5 / research the following contracts used in the real estate business:
Brokerage representation agreements, purchase/sales agreements, option agreements, installment agreements (contracts, deeds, and leases for land).
Standard 4: Deeds
Objectives / The student will
ME.O.RLEM.4.1 / determine the items necessary to make a deed valid.
ME.O.RLEM.4.2 / recognize different types of deeds. (eight forms of deeds)
ME.O.RLEM.4.3 / determine ways in which business organizations can hold ownership.
ME.O.RLEM.4.4 / analyze types of free hold ownership.
ME.O.RLEM.4.5 / classify the types of co-ownership.
ME.O.RLEM.4.6 / construct the purposes of a land survey.
ME.O.RLEM.4.7 / illustrate the three basic types of land descriptions.
ME.O.RLEM.4.8 / examine the methods by which a title can be transferred.
ME.O.RLEM.4.9 / assess the terms delivery and acceptance.
ME.O.RLEM.4.10 / determine the methods by which a deceased person’s property transfers if he/she dies intestate.
Standard 5: Financing, Mortgages, and Deeds of Trust
Objectives / The student will
ME.O.RLEM.5.1 / compare the terms security instrument, financing instrument, and hypothecation.
ME.O.RLEM.5.2 / research the provisions of a promissory note.
ME.O.RLEM.5.3 / examine various types of mortgages.
ME.O.RLEM.5.4 / determine the influence of government in mortgage lending.
ME.O.RLEM.5.5 / assess the secondary mortgage market.
ME.O.RLEM.5.6 / provide examples of an encumbrance.
ME.O.RLEM.5.7 / examine why title searches and recording statutes are necessary.
ME.O.RLEM.5.8 / analyze at least three types of liens.
ME.O.RLEM.5.9 / compute proration problems.
ME.O.RLEM.5.10 / analyze escrow.
ME.O.RLEM.5.11 / research elements of foreclosure proceedings.
Standard 6: Brokerage and Agency Contract Responsibilities
Objectives / The student will
ME.O.RLEM.6.1 / recognize the role of an agency.
ME.O.RLEM.6.2 / illustrate fiduciary relationship.
ME.O.RLEM.6.3 / show how brokerage fees are determined and calculated.
ME.O.RLEM.6.4 / research information needed on brokerage representation agreements.
ME.O.RLEM.6.5 / compute the seller's net proceeds.
ME.O.RLEM.6.6 / compute the buyer's cost of purchase.
Standard 7: Fair Housing Statues
Objectives / The student will
ME.O.RLEM.7.1 / examine the West Virginia Residential Landlord and Tenant Act.
ME.O.RLEM.7.2 / assess the implications of fair housing laws for brokers and salespeople.
ME.O.RLEM.7.3 / illustrate examples of blockbusting, steering, and redlining.
ME.O.RLEM.7.4 / research the purpose of the West Virginia Real Estate Commission.
ME.O.RLEM.7.5 / demonstrate methods by which land use is controlled.
Standard 8: Ethics
Objectives / The student will
ME.O.RLEM.8.1 / discover examples of Code of Ethics violations.
ME.O.RLEM.8.2 / examine areas of law that are important to real estate.
ME.O.RLEM.8.3 / analyze ethical practices as they apply to real estate law.
ME.O.RLEM.8.4 / point out how ethical practices influence the success of real estate professionals.
Standard 9: Careers in Real Estate Marketing
Objectives / The student will
ME.O.RLEM.9.1 / recognize different real estate specializations.
ME.O.RLEM.9.2 / research postsecondary education opportunities related to real estate marketing.
Standard 10: Participating in a Local Student Organization
Objectives / The student will
ME.O.RLEM.10.1 / assess the purposes and goals of a local studentorganization.
ME.O.RLEM.10.2 / discover the benefits and responsibilities of participation in a local studentorganization as an adult.
ME.O.RLEM.10.3 / demonstrate leadership skills through participation in local studentorganization activities such as meetings, programs, and projects.