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Tellus Realty

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877-413-7325
Office@TellusRE.com

PO Box 1113 Duvall, WA 98019

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Real estate class descriptions

Class descriptions

Tellus Real Estate Solutions’ satellite real estate school provides pre-licensing, managing broker licensing, and continuing education courses. These courses are provided at a discount from the standard Rockwell Institute price. You can register online or over the phone by calling Rockwell Institute directly at 800-954-5150 and letting them know you are registering as a Tellus Real Estate Solutions student. See the descriptions below for information about each class. Click this link for a demo.

Washington State Pre-license Package (90 clock hours)

This 90 clock hour package combines Washington Fundamentals, Real Estate Practices, and the Broker’s Cram to provide you with the best pre-license education available. You must complete both Fundamentals and Practices before taking the Washington real estate license exam. You may choose either the live-lecture or the online course formats. Save money by choosing this package instead of signing up for each course separately!

Washington Real Estate Fundamentals (60 clock hours)

Washington Real Estate Fundamentals is a 60-hour course that must be successfully completed before you can sit for the Washington real estate license examination. (You must also complete the 30-hour Real Estate Practices course.) Fundamentals is a comprehensive course that is directed at someone with little or no experience in real estate. About 90% of students who take this class pass the license exam on their first attempt. Please note: If you would prefer to take Fundamentals in a live lecture setting, Rockwell also offers Fundamentals classes at our Bellevue campus.

Washington Real Estate Practices for Pre-license Only (30 clock hours)

This 30 Clock Hour course is a practical course for new agents. It offers guidelines in areas such as: listing agreements and purchase and sale agreements; pricing property; qualifying the purchaser; agency relationships; financing; and other information pertinent to the new real estate agent. All those seeking a real estate broker’s license on or after July 1, 2010 must take this course as part of their pre-license requirements.

Washington Broker’s Cram

The online Broker Cram takes all the information taught in Rockwell’s live Cram course, puts it in a highly usable format on the computer, and allows you to learn it at your own pace. You are shown what is likely to be tested on the license examination, plus you get the opportunity to answer hundreds of practice exam questions as well as take several practice exams. The Cram narrows your search for relevant topics, saving you both time and unnecessary stress. As the exam date approaches, nothing is more frustrating and stressful than studying in great detail information that may be altogether unimportant. Save yourself a lot of needless grief and enroll in the Cram course today.

Washington State Managing Broker’s Special Licensing Package (90 clock hours)

Sign up for the 90 clock hour Managing Broker’s Special package and save money in pursuit of your managing broker’s license. The package includes the three 30-hour courses you must complete before you can take your managing broker’s license exam: Advanced Real Estate Law, Brokerage Management, and Business Management. It also includes the Managing Broker Cram course.

Brokerage Management Correspondence Course (30 clock hours)

This is one of three courses required for managing broker license eligibility. It may also be used for the 30-hour continuing education requirement. This correspondence course covers a full range of topics and activities that will prove useful—even essential—to anyone who aspires to own a brokerage, who is interested in managing an office, or who expects to function in any kind of supervisory position in the future. Since it’s a correspondence course, you can complete it anywhere, anytime, at your own pace. Simply read the textbook, and take the online lesson quizzes and the final exam.

Business Management Correspondence Course (30 clock hours)

This 30 clock hour correspondence course guides managing broker candidates through the techniques of managing their own business. It covers such topics as: starting a service-oriented business; developing a business plan; financing a business; marketing; public relations; and office management. Since it’s a correspondence course, you can complete it anywhere, anytime, at your own pace. Simply read the textbook, and take the online lesson quizzes and the final exam. Note: this course may also be used for the 30-hour continuing education requirement.

Advanced Washington Real Estate Law (30 clock hours)

Advanced Washington Real Estate Law offers a 30 clock hour overview of the legal aspects of real estate. This course discusses the laws governing the ownership and sale of real estate in Washington, examines common problems in real estate transactions, and provides examples from actual court cases. You must complete this course if you wish to take the managing broker’s license exam. Topics covered include:

  • real estate license law,
  • the distinction between real and personal property,
  • methods of land description,
  • easements, liens, and other interests in real estate,
  • forms of co-ownership,
  • the law of real estate agency,
  • earnest money agreements and other real estate      contracts,
  • deeds and title transfer,
  • deeds of trust, mortgages, and foreclosure,
  • zoning and other land use controls,
  • taxation of real estate,
  • fair housing issues,
  • landlord/tenant law, and
  • employment law

 

Managing Broker’s Cram

While no one can really guarantee that you’ll pass the managing broker’s license exam, the Managing Broker’s Cram online course provides the greatest possible assurance. This course takes all the information taught in Rockwell’s live Cram course, puts it in a highly usable format on the computer, and allows you to learn it at your own pace. You are shown what is likely to be tested on the license examination, plus you get the opportunity to answer hundreds of practice exam questions and take several practice exams.

The Cram narrows your search for relevant topics, saving you both time and unnecessary stress. As the exam date approaches, nothing is more frustrating and stressful than studying in great detail information that may be altogether unimportant. Save yourself a lot of needless grief and enroll in the Cram course today.

First Renewal Package (90 clock hours)

Sign up for all 90 clock hours of courses required for your first license renewal (Real Estate Advanced Practices, Real Estate Law, a 30-hour Elective, and Core Curriculum) in this convenient package, and save money!

Advanced Real Estate Practices (30 clock hours)

Advanced Real Estate Practices provides an in-depth look at many of the issues that real estate agents in Washington encounter on a day-to-day basis, plus it examines complications that can arise in brokerage operations and real estate transactions. Advanced Practices covers, among other topics, risk reduction strategies, negotiating contracts, pricing and marketing properties, and the development and sale of vacant land. This 30 clock hour course is part of the state’s first renewal requirements for brokers.

Washington Real Estate Law (30 clock hours)

Washington Real Estate Law offers a 30 clock hour overview of the legal aspects of real estate. This course discusses the laws governing the ownership and sale of real estate in Washington, examines common problems in real estate transactions, and provides examples from actual court cases. Topics covered include:

  • the distinction between real and personal property,
  • methods of land description,
  • easements, liens, and other interests in real estate,
  • forms of co-ownership,
  • the law of real estate agency,
  • earnest money agreements and other real estate contracts,
  • deeds and title transfer,
  • deeds of trust, mortgages, and foreclosure,
  • zoning and other land use controls,
  • taxation of real estate,
  • fair housing issues, and
  • landlord/tenant law

 

Washington Core Curriculum (3 clock hours)

This online Core Curriculum course covers new topics relevant to residential real estate. This 3-hour course discusses rules about referrals and workers’ compensation, property management, and handling distressed properties and short sales. All brokers and managing brokers must take this course as part of the clock hours needed for license renewal.

Financing Residential Real Estate (30 clock hours)

Financing Residential Real Estate gives you a 30 clock hour overview of both the lending process and the guidelines used to qualify homebuyers for mortgage loans. This course provides you with a solid understanding of the following topics:

  • the loan application process,
  • loan underwriting standards,
  • conventional loans,
  • FHA loans,
  • VA loans,
  • seller financing,
  • fair lending, and
  • predatory lending

 

Washington Real Estate Practices for CE Only (30 clock hours)

This is a 30 clock hour practical course for new agents. It offers guidelines in areas such as: listing agreements and purchase and sale agreements; pricing property; qualifying the purchaser; agency relationships; financing; and other information pertinent to the new real estate agent.

Principles of Washington Real Estate (30 clock hours)

Even if you’re not a broker’s license applicant, Principles of Washington Real Estate is an ideal way to brush up on all the fundamental aspects of practicing real estate, from appurtenances to zoning. This course provides 30 hours of credit toward continuing education requirements, and is now available online.

Washington Real Estate Appraisal (30 clock hours)

Real Estate Appraisal gives you a 30 clock hour overview of both the theoretical and practical aspects of the subject, with an emphasis on residential appraisal practices. Real Estate Appraisal will provide you with a solid understanding of the following topics:

  • The eight steps of the appraisal process
  • Architectural styles
  • Construction methods and materials
  • Collection and analysis of appraisal data
  • Analyzing the highest and best use of a property
  • Estimating cost and depreciation
  • Selecting and analyzing comparable properties
  • The three methods of appraisal
  • Preparing appraisal reports

 

Property Management (27 clock hours)

Property Management is a 27 clock hour comprehensive introduction to managing investment real estate, including residential properties (apartment buildings and single-family rental homes) and commercial properties (office, retail, and industrial space). The topics covered include:

  • the economics of real estate investment
  • working with management clients
  • management planning
  • operating budgets and other financial aspects of property management
  • marketing rental properties
  • marketing property management services
  • tenant selection and lease negotiations
  • rent collection
  • security deposits
  • lease termination and eviction
  • staffing managed property
  • property maintenance
  • laws affecting property management, and
  • emergency preparedness, security, and insurance issues

 

Understanding Conventional, FHA, and VA Loans (7.5 clock hours)

This 7.5 clock hour online course covers the main loan programs available to the home buyer today. First, it examines the basics of conventional loans, including special programs and alternative payment plans. Next, the course engages in a detailed exploration of the two main government-sponsored loan programs-FHA and VA loans. Through use of colorful photographs, crisp graphics, and entertaining animations, this course makes the intricate concepts of real estate financing easy to learn and remember.

Mortgage Financing: Application and Approval (7.5 clock hours)

Mortgage Financing is a 7.5 clock hour course that covers the ins and outs of the loan application process. From the initial application through escrow, the course provides an in-depth look at topics such as choosing a loan, applying for credit, qualifying the buyer and the property, and closing the transaction. State of the art online graphics make the course a treat for the eyes, while clear and concise explanations make the material easy to master.

Mathematics of Selling Real Estate (7.5 clock hours)

This 7.5 clock hour course is designed to give real estate agents the basic problem-solving skills that will prepare them for all types of real-world situations involving math calculations. The course begins with elementary topics such as conversion of fractions, decimals, and percentages, calculation of area and volume, calculation of loan amounts and interest rates, and calculation of commissions. Students will then advance to more complex problems involving appreciation and depreciation, capitalization, and proration of expenses.

Washington License Law (7.5 clock hours)

This 7.5 clock hour course is designed to familiarize real estate agents with all aspects of Washington real estate license law, and to keep them apprised of new developments in the law so they can stay in compliance. The course begins with an explanation of when a license is required and how a license is obtained and renewed. It also details the regulation of business practices, including topics such as agency disclosure requirements, trust account and recordkeeping requirements, and a broker’s supervisory responsibilities. Finally, the course explains the disciplinary procedures for license law violations.

Appraisal Valuation Techniques (7 clock hour)

Appraisal Valuation Techniques gives you a 7 clock hour overview of the practical aspects of valuing property, with an emphasis on residential appraisal practices. Appraisal Valuation Techniques will provide you with a solid understanding of the following topics:

  • The cost approach to value
  • The sales comparison approach to value
  • The income approach to value
  • Site valuation
  • Appraising special interests
  • Preparing appraisal reports

 

Mortgage Loan Basics (6 clock hours)

Mortgage Loan Basics is our most general course on the real estate lending process. It introduces the student to the basic features of a residential loan and to the documents used in the lending process. Rudimentary concepts such as amortization, loan-to-value ratios, mortgage insurance, secondary financing, and interest rates are clearly explained in this course. The 6 clock hour online presentation of the material makes the learning process interactive and entertaining.

Essential Principles of Appraisal (4 clock hours)

Essential Principles of Appraisal gives you a 4 clock hour overview of the principles of valuing property, with an emphasis on residential appraisal. Essential Principles of Appraisal will provide you with a solid understanding of the following topics:

Course Outline:

  • The appraisal profession
  • The principles of value
  • The appraisal process
  • Data collection and analysis

 

Essentials of Property Management (3 clock hours)

Essentials of Property Management gives you a 3 clock hour overview of the property management, with an emphasis on managing residential properties. Essentials of Property Management will provide you with a solid understanding of the following topics:

  • The management plan
  • Management functions
  • Lease provisions
  • Landlord/tenant law

 

The Seller as Lender: Seller Financing Explained (3 clock hours)

The Seller as Lender 3 clock hour class teaches everything a student needs to know about seller financing. The course begins by explaining why seller financing is used, then proceeds to cover all topics relevant to someone contemplating a seller-financed transaction-seller seconds, primary seller financing, and alternatives to seller financing such as buy-downs and lease arrangements. The course concludes with a brief look at the real estate agent’s responsibilities in a seller-financed transaction. The online presentation of the material is detailed, organized, and easy to follow.

Real Estate Construction, Ownership, and Investment (3 clock hours)

Many of a client’s most pressing questions will not concern the fine points of real estate law but more practical concerns, like whether a house appears to be solidly constructed, or whether it’s even a good idea to buy property at all. This 3 clock hour course will prepare a real estate agent to answer these questions. It includes an overview of how residential property is constructed, other pointers for evaluating a home, a worksheet for helping clients decide whether to rent or buy, and special considerations for clients looking for investment or income property.

Course Outline:

  • Home Construction
  • The Decision to Rent or Buy
  • Evaluating a Home
  • Investing in Real Estate

 

Borrower Beware: Fair Lending/Consumer Protection (3 clock hours)

This 3 clock hour online course teaches the student how to avoid the pitfalls of real estate financing. First the student is introduced to the key laws enacted to protect the borrower: the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act, the Truth in Lending Act, and the Real Estate Settlement Procedures Act. These laws are examined in detail, with illustrations and examples used to enhance comprehension. The course concludes by taking a look at predatory lending practices and the measures taken to curb them. A lively and colorful online presentation brings the course content to life.

Risk Management (3 clock hours)

Risk Management teaches you about managing the risks inherent in managing a real estate business. The course begins by discussing reactive strategies for risk management (such as errors and omissions insurance policies), then moves on to proactive strategies (such as supervision and training). The course discusses how to deal with the risks associated with agency and property disclosures, contracts, trust funds, advertising, antidiscrimination laws, antitrust Laws, RESPA, and predatory lending. This 3 clock hour course then concludes with a section on legal remedies. DRE course approval number: 1077-1010

Posted in: Online Classes, Real estate careers

Take real estate licensing and continuing-ed classes

Congratulations! You have found the best real estate classes in Washington State. Tellus Real Estate Solutions has become a satellite school partner with Rockwell Institute. These online real estate classes are perfect for:Rockwell Institute

  • Prospective real estate brokers interested in getting their real estate license
  • New agents that need Continuing Education course in order to renew their existing license
  • Experienced agents looking to obtain their managing broker’s license
  • Real estate investors or anyone else interested in learning more about the real estate industry

 

Click here to save money on classes

 

Why take classes online?

The advantage to this kind of training is that you can control the schedule and pace at which you will take the course. These courses are ideal for students who live outside the Seattle metro area, work full-time, or have demanding lifestyles.

Why sign up through Tellus Real Estate?

Our partnership with Rockwell Institute means you get a significant savings over the standard prices for Rockwell classes. In most cases this is a 10% or more discount. Additionally, along with great support from Rockwell, you can email our office if you have questions and need help understanding the materials.

About our Rockwell Satellite School

Tellus Real Estate Solutions’ satellite real estate school provides pre-licensing, managing broker licensing, and continuing education courses. These courses are provided at a discount from the standard Rockwell Institute price. You can also register for classes online or by calling Rockwell Institute directly at 800-954-5150 and letting them know you are registering as a Tellus Real Estate Solutions student. See the class descriptions for information about each class.

Click this link for a demo of our online classes.

Course approvals Rockwell holds all course approvals with the State of Washington. All our real estate courses are offered in association with Rockwell Institute, the school of record. Rockwell Institute is the course sponsor for all courses.

How do I get my Washington State real estate license?

To qualify for a broker’s license in Washington State, you must be 18 years old and have a high school diploma (or equivalent). You must also successfully complete 90 hours of approved real estate education within 2 years before you apply for the exam.  The courses must include a 60-hour course in Real Estate Fundamentals and a 30-hour course in Real Estate Practices. You must also pass the broker’s exam. Review the Department of Licensing website for more details.

Posted in: Real estate careers, Real estate industry

Continuing Education Real Estate Class Descriptions

Tellus Real Estate Solutions’ satellite real estate school provides pre-licensing, managing broker licensing, and continuing education courses. These courses are provided at a discount from the standard Rockwell Institute price. You can register online or over the phone by calling Rockwell Institute directly at 800-954-5150 and letting them know you are registering as a Tellus Real Estate Solutions student. See the descriptions below for information about each class. Click this link for a demo.

Washington State Pre-license Package (90 clock hours)

This 90 clock hour package combines Washington Fundamentals, Real Estate Practices, and the Broker’s Cram to provide you with the best pre-license education available. You must complete both Fundamentals and Practices before taking the Washington real estate license exam. You may choose either the live-lecture or the online course formats. Save money by choosing this package instead of signing up for each course separately!

Washington Real Estate Fundamentals (60 clock hours)

Washington Real Estate Fundamentals is a 60-hour course that must be successfully completed before you can sit for the Washington real estate license examination. (You must also complete the 30-hour Real Estate Practices course.) Fundamentals is a comprehensive course that is directed at someone with little or no experience in real estate. About 90% of students who take this class pass the license exam on their first attempt. Please note: If you would prefer to take Fundamentals in a live lecture setting, Rockwell also offers Fundamentals classes at our Bellevue campus.

Washington Real Estate Practices for Pre-license Only (30 clock hours)

This 30 Clock Hour course is a practical course for new agents. It offers guidelines in areas such as: listing agreements and purchase and sale agreements; pricing property; qualifying the purchaser; agency relationships; financing; and other information pertinent to the new real estate agent. All those seeking a real estate broker’s license on or after July 1, 2010 must take this course as part of their pre-license requirements.

Washington Broker’s Cram

The online Broker Cram takes all the information taught in Rockwell’s live Cram course, puts it in a highly usable format on the computer, and allows you to learn it at your own pace. You are shown what is likely to be tested on the license examination, plus you get the opportunity to answer hundreds of practice exam questions as well as take several practice exams. The Cram narrows your search for relevant topics, saving you both time and unnecessary stress. As the exam date approaches, nothing is more frustrating and stressful than studying in great detail information that may be altogether unimportant. Save yourself a lot of needless grief and enroll in the Cram course today.

Washington State Managing Broker’s Special Licensing Package (90 clock hours)

Sign up for the 90 clock hour Managing Broker’s Special package and save money in pursuit of your managing broker’s license. The package includes the three 30-hour courses you must complete before you can take your managing broker’s license exam: Advanced Real Estate Law, Brokerage Management, and Business Management. It also includes the Managing Broker Cram course.

Brokerage Management Correspondence Course (30 clock hours)

This is one of three courses required for managing broker license eligibility. It may also be used for the 30-hour continuing education requirement. This correspondence course covers a full range of topics and activities that will prove useful—even essential—to anyone who aspires to own a brokerage, who is interested in managing an office, or who expects to function in any kind of supervisory position in the future. Since it’s a correspondence course, you can complete it anywhere, anytime, at your own pace. Simply read the textbook, and take the online lesson quizzes and the final exam.

Business Management Correspondence Course (30 clock hours)

This 30 clock hour correspondence course guides managing broker candidates through the techniques of managing their own business. It covers such topics as: starting a service-oriented business; developing a business plan; financing a business; marketing; public relations; and office management. Since it’s a correspondence course, you can complete it anywhere, anytime, at your own pace. Simply read the textbook, and take the online lesson quizzes and the final exam. Note: this course may also be used for the 30-hour continuing education requirement.

Advanced Washington Real Estate Law (30 clock hours)

Advanced Washington Real Estate Law offers a 30 clock hour overview of the legal aspects of real estate. This course discusses the laws governing the ownership and sale of real estate in Washington, examines common problems in real estate transactions, and provides examples from actual court cases. You must complete this course if you wish to take the managing broker’s license exam. Topics covered include:

  • real estate license law,
  • the distinction between real and personal property,
  • methods of land description,
  • easements, liens, and other interests in real estate,
  • forms of co-ownership,
  • the law of real estate agency,
  • earnest money agreements and other real estate      contracts,
  • deeds and title transfer,
  • deeds of trust, mortgages, and foreclosure,
  • zoning and other land use controls,
  • taxation of real estate,
  • fair housing issues,
  • landlord/tenant law, and
  • employment law

 

Managing Broker’s Cram

While no one can really guarantee that you’ll pass the managing broker’s license exam, the Managing Broker’s Cram online course provides the greatest possible assurance. This course takes all the information taught in Rockwell’s live Cram course, puts it in a highly usable format on the computer, and allows you to learn it at your own pace. You are shown what is likely to be tested on the license examination, plus you get the opportunity to answer hundreds of practice exam questions and take several practice exams.

The Cram narrows your search for relevant topics, saving you both time and unnecessary stress. As the exam date approaches, nothing is more frustrating and stressful than studying in great detail information that may be altogether unimportant. Save yourself a lot of needless grief and enroll in the Cram course today.

First Renewal Package (90 clock hours)

Sign up for all 90 clock hours of courses required for your first license renewal (Real Estate Advanced Practices, Real Estate Law, a 30-hour Elective, and Core Curriculum) in this convenient package, and save money!

Advanced Real Estate Practices (30 clock hours)

Advanced Real Estate Practices provides an in-depth look at many of the issues that real estate agents in Washington encounter on a day-to-day basis, plus it examines complications that can arise in brokerage operations and real estate transactions. Advanced Practices covers, among other topics, risk reduction strategies, negotiating contracts, pricing and marketing properties, and the development and sale of vacant land. This 30 clock hour course is part of the state’s first renewal requirements for brokers.

Washington Real Estate Law (30 clock hours)

Washington Real Estate Law offers a 30 clock hour overview of the legal aspects of real estate. This course discusses the laws governing the ownership and sale of real estate in Washington, examines common problems in real estate transactions, and provides examples from actual court cases. Topics covered include:

  • the distinction between real and personal property,
  • methods of land description,
  • easements, liens, and other interests in real estate,
  • forms of co-ownership,
  • the law of real estate agency,
  • earnest money agreements and other real estate contracts,
  • deeds and title transfer,
  • deeds of trust, mortgages, and foreclosure,
  • zoning and other land use controls,
  • taxation of real estate,
  • fair housing issues, and
  • landlord/tenant law

 

Washington Core Curriculum (3 clock hours)

This online Core Curriculum course covers new topics relevant to residential real estate. This 3-hour course discusses rules about referrals and workers’ compensation, property management, and handling distressed properties and short sales. All brokers and managing brokers must take this course as part of the clock hours needed for license renewal.

Financing Residential Real Estate (30 clock hours)

Financing Residential Real Estate gives you a 30 clock hour overview of both the lending process and the guidelines used to qualify homebuyers for mortgage loans. This course provides you with a solid understanding of the following topics:

  • the loan application process,
  • loan underwriting standards,
  • conventional loans,
  • FHA loans,
  • VA loans,
  • seller financing,
  • fair lending, and
  • predatory lending

 

Washington Real Estate Practices for CE Only (30 clock hours)

This is a 30 clock hour practical course for new agents. It offers guidelines in areas such as: listing agreements and purchase and sale agreements; pricing property; qualifying the purchaser; agency relationships; financing; and other information pertinent to the new real estate agent.

Principles of Washington Real Estate (30 clock hours)

Even if you’re not a broker’s license applicant, Principles of Washington Real Estate is an ideal way to brush up on all the fundamental aspects of practicing real estate, from appurtenances to zoning. This course provides 30 hours of credit toward continuing education requirements, and is now available online.

Washington Real Estate Appraisal (30 clock hours)

Real Estate Appraisal gives you a 30 clock hour overview of both the theoretical and practical aspects of the subject, with an emphasis on residential appraisal practices. Real Estate Appraisal will provide you with a solid understanding of the following topics:

  • The eight steps of the appraisal process
  • Architectural styles
  • Construction methods and materials
  • Collection and analysis of appraisal data
  • Analyzing the highest and best use of a property
  • Estimating cost and depreciation
  • Selecting and analyzing comparable properties
  • The three methods of appraisal
  • Preparing appraisal reports

 

Property Management (27 clock hours)

Property Management is a 27 clock hour comprehensive introduction to managing investment real estate, including residential properties (apartment buildings and single-family rental homes) and commercial properties (office, retail, and industrial space). The topics covered include:

  • the economics of real estate investment
  • working with management clients
  • management planning
  • operating budgets and other financial aspects of property management
  • marketing rental properties
  • marketing property management services
  • tenant selection and lease negotiations
  • rent collection
  • security deposits
  • lease termination and eviction
  • staffing managed property
  • property maintenance
  • laws affecting property management, and
  • emergency preparedness, security, and insurance issues

 

Understanding Conventional, FHA, and VA Loans (7.5 clock hours)

This 7.5 clock hour online course covers the main loan programs available to the home buyer today. First, it examines the basics of conventional loans, including special programs and alternative payment plans. Next, the course engages in a detailed exploration of the two main government-sponsored loan programs-FHA and VA loans. Through use of colorful photographs, crisp graphics, and entertaining animations, this course makes the intricate concepts of real estate financing easy to learn and remember.

Mortgage Financing: Application and Approval (7.5 clock hours)

Mortgage Financing is a 7.5 clock hour course that covers the ins and outs of the loan application process. From the initial application through escrow, the course provides an in-depth look at topics such as choosing a loan, applying for credit, qualifying the buyer and the property, and closing the transaction. State of the art online graphics make the course a treat for the eyes, while clear and concise explanations make the material easy to master.

Mathematics of Selling Real Estate (7.5 clock hours)

This 7.5 clock hour course is designed to give real estate agents the basic problem-solving skills that will prepare them for all types of real-world situations involving math calculations. The course begins with elementary topics such as conversion of fractions, decimals, and percentages, calculation of area and volume, calculation of loan amounts and interest rates, and calculation of commissions. Students will then advance to more complex problems involving appreciation and depreciation, capitalization, and proration of expenses.

Washington License Law (7.5 clock hours)

This 7.5 clock hour course is designed to familiarize real estate agents with all aspects of Washington real estate license law, and to keep them apprised of new developments in the law so they can stay in compliance. The course begins with an explanation of when a license is required and how a license is obtained and renewed. It also details the regulation of business practices, including topics such as agency disclosure requirements, trust account and recordkeeping requirements, and a broker’s supervisory responsibilities. Finally, the course explains the disciplinary procedures for license law violations.

Appraisal Valuation Techniques (7 clock hour)

Appraisal Valuation Techniques gives you a 7 clock hour overview of the practical aspects of valuing property, with an emphasis on residential appraisal practices. Appraisal Valuation Techniques will provide you with a solid understanding of the following topics:

  • The cost approach to value
  • The sales comparison approach to value
  • The income approach to value
  • Site valuation
  • Appraising special interests
  • Preparing appraisal reports

 

Mortgage Loan Basics (6 clock hours)

Mortgage Loan Basics is our most general course on the real estate lending process. It introduces the student to the basic features of a residential loan and to the documents used in the lending process. Rudimentary concepts such as amortization, loan-to-value ratios, mortgage insurance, secondary financing, and interest rates are clearly explained in this course. The 6 clock hour online presentation of the material makes the learning process interactive and entertaining.

Essential Principles of Appraisal (4 clock hours)

Essential Principles of Appraisal gives you a 4 clock hour overview of the principles of valuing property, with an emphasis on residential appraisal. Essential Principles of Appraisal will provide you with a solid understanding of the following topics:

Course Outline:

  • The appraisal profession
  • The principles of value
  • The appraisal process
  • Data collection and analysis

 

Essentials of Property Management (3 clock hours)

Essentials of Property Management gives you a 3 clock hour overview of the property management, with an emphasis on managing residential properties. Essentials of Property Management will provide you with a solid understanding of the following topics:

  • The management plan
  • Management functions
  • Lease provisions
  • Landlord/tenant law

 

The Seller as Lender: Seller Financing Explained (3 clock hours)

The Seller as Lender 3 clock hour class teaches everything a student needs to know about seller financing. The course begins by explaining why seller financing is used, then proceeds to cover all topics relevant to someone contemplating a seller-financed transaction-seller seconds, primary seller financing, and alternatives to seller financing such as buy-downs and lease arrangements. The course concludes with a brief look at the real estate agent’s responsibilities in a seller-financed transaction. The online presentation of the material is detailed, organized, and easy to follow.

Real Estate Construction, Ownership, and Investment (3 clock hours)

Many of a client’s most pressing questions will not concern the fine points of real estate law but more practical concerns, like whether a house appears to be solidly constructed, or whether it’s even a good idea to buy property at all. This 3 clock hour course will prepare a real estate agent to answer these questions. It includes an overview of how residential property is constructed, other pointers for evaluating a home, a worksheet for helping clients decide whether to rent or buy, and special considerations for clients looking for investment or income property.

Course Outline:

  • Home Construction
  • The Decision to Rent or Buy
  • Evaluating a Home
  • Investing in Real Estate

 

Borrower Beware: Fair Lending/Consumer Protection (3 clock hours)

This 3 clock hour online course teaches the student how to avoid the pitfalls of real estate financing. First the student is introduced to the key laws enacted to protect the borrower: the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act, the Truth in Lending Act, and the Real Estate Settlement Procedures Act. These laws are examined in detail, with illustrations and examples used to enhance comprehension. The course concludes by taking a look at predatory lending practices and the measures taken to curb them. A lively and colorful online presentation brings the course content to life.

Risk Management (3 clock hours)

Risk Management teaches you about managing the risks inherent in managing a real estate business. The course begins by discussing reactive strategies for risk management (such as errors and omissions insurance policies), then moves on to proactive strategies (such as supervision and training). The course discusses how to deal with the risks associated with agency and property disclosures, contracts, trust funds, advertising, antidiscrimination laws, antitrust Laws, RESPA, and predatory lending. This 3 clock hour course then concludes with a section on legal remedies. DRE course approval number: 1077-1010

Posted in: Online Classes, Real estate careers

Discounted real estate licensing courses from Tellus Real Estate

Are you thinking of getting your real estate license? Or, are you already a broker and need some continuing education classes? Or, maybe you just want to learn more about real estate. We have a wide variety of pre-licensing, continuing education, and general interest real estate classes that you can take online.

You can find a description of our classes here: https://tellusre.com/real-estate-licensing-and-continuing-education-classes

If you would like to see what the courses are like, check out a course demo.

Classes are provided through our partnership with the Rockwell Institute.

Posted in: Commercial real estate, Real estate careers, Real estate industry, Residential real estate, Technology and real estate

NWMLS releases year end summary for 2014

The Northwest MLS has released its annual summary for 2014.  Here is a quick excerpt:

Despite tight inventory, Northwest MLS brokers complete more than 77,000 sales valued at nearly $28 billion during 2014

KIRKLAND, Wash. (Jan. 22, 2015) – Members of Northwest Multiple Listing Service reported 77,276 closed sales during 2014 to outgain the prior year’s volume by 1,759 transactions for a 2.3 percent increase.

Measured by dollars, last year’s sales of single family homes and condominiums were valued at nearly $28 billion. Compared to 2013, that dollar volume represents a 9.4 percent gain.

The sales activity reflects the work of more than 22,000 brokers across 21 counties in the member-owned Northwest MLS.

Last year’s completed sales included 66,716 single family homes (about 86 percent of the total) and 10,560 condominiums. The total units and dollar volume are the best since 2007 when members registered 82,197 sales valued at $32.3 billion.

To read the full summary release, go here..

Posted in: Home buying, Home selling, Real estate careers, Real estate industry, Residential market reports, Residential real estate Tagged: 2014 summary, market reports, nwmls, residential real estate

Online real estate education from Tellus RE

As we wrap up the old year, and get ready for the new year, we thought it would be a good time to remind you that we have online real estate classes you can take. We have both licensing classes if you are thinking about becoming a real estate agent, and we have a wide variety of other classes that are good for fun or even Continuing Education credits of you actually have a license.

You can find a description of our classes here: https://tellusre.com/real-estate-licensing-and-continuing-education-classes

Or check out a course demo.

Our classes are provided through our partnership with the Rockwell Institute.

 

 

Posted in: Commercial real estate, Real estate careers, Real estate investing, Residential real estate Tagged: CE, classes, continuing education, rockwell, virtual school

A quick overview of common real estate agency scenarios

Agency and dual agency are incredibly challenging issues in real estate. They are, I think, very hard to explain clearly. More importantly, they are areas that can be hard for some brokers to handle ethically and legally, especially when you are talking about dual agency. This can be true for the most honest and ethical broker, simply because we are human.  I make it a point to discuss agency with potential clients. Its an important part of the job.  This post is an attempt to put some of those explanations in writing so I can point clients at the scenarios later.

Before we go further, here is a link to the Washington State “Law of Real Estate Agency” pamphlet on the Tellus Real Estate website.  We provide a link directly from our website where it is easy to get to, so clients and agents can quickly refer to it.  This pamphlet spells out the legal obligations of brokers and managing (or designated) brokers when it comes to agency. It goes to great length to define certain concepts such as “material facts” that all buyers, seller, landlords, and tenants should understand.

There is a fairly straightforward set of possible agency relationships in a real estate transaction.  They are:

  1. Neither buyer nor seller has an agent
  2. Both buyer and seller have agents with separate companies
  3. Seller with an agent and buyer without an agent
  4. Buyer with an agent and seller without an agent
  5. Buyer and seller with separate agents within the same brokerage
  6. Buyer and seller with the same agent

Let’s look at what each of these looks like:

Neither buyer nor seller has an agent

No real estate agentsOn the surface, this seems easy and the obvious scenario is one where a person selling a house ‘for sale by owner’ (FSBO) finds a buyer. No real estate agent is involved, so there is no agency relationship.  But, we’ve also seen cases where a FSBO owner or buyer asks a real estate agent to handle paperwork for a fee, without creating an agency relationship.  The challenge here is that the agent will likely, at some point in the transaction, offer advice to either the seller or buyer, thereby creating an agency relationship without meaning to do so.  As the owner of a real estate brokerage, I see this as a recipe for law suits, and since ultimately it is my responsibility, I don’t want my brokers doing this. If a FSBO buyer and seller needs help with paperwork, they can contact an escrow company or an attorney to guide them through the process.

Both buyer and seller have agents from separate companies

no dual agencyThis is the clearest case of NOT having dual agency. In order to understand why, it is important to understand who the agents are. In real estate brokerage, there are several entities (roles) at the real estate company that represent you when you are the buyer or seller. The same person might fill all the roles, or each role might be filled by a separate person. The roles are:

  • Buyer or seller’s broker/agent – This is the person who you work with directly as the buyer or seller
  • Managing broker – This is the person who directly supervises your broker. They must have a special license and they are legally responsible for the actions of your individual broker.
  • Designated broker – this is the person who is responsible for the actions of the entire real estate company and all the managing brokers and individual brokers in the company. For all intents and purposes, they are the company.  If you sign a listing contract or a buyer representation agreement, you are actually making a contract with the company and this person. That contract allows them to assign someone (the broker mentioned above) as their representative when working with you.

You will notice I didn’t use the word “agent” here. The State of Washington has updated the terminology when referring to brokers and agents in order to make things more clear.  Any of the people serving in the roles above can be an “agent” (can owe you an agency obligation as defined in that pamphlet we mentioned earlier).  It is also possible for them to be other peoples’ agents or to be dual agents.

So, back to this scenario.  In the scenario where the brokers working with the buyer and seller are each from different brokerage companies, then everyone in the roles I mentioned is an agent for only 1 person, either the buyer or the seller.

This is nice and clear, and much less likely to cause a lawsuit than any other scenario. And, in most cases, unless you are working with a large brokerage company with many brokers, this will the scenario you are most likely to encounter as a buyer or seller, assuming you are working with a broker.

Seller with an agent and buyer with no agent

buyer has no agentSo, when would we see this?  The easiest scenario to imagine is where a seller has listed their property with a brokerage and the broker assigned is their agent.  That broker holds an open house and a potential buyer comes into the house, and does not have their own real estate broker working with them.  The buyer says, “I want to buy this house.” After confirming the buyer does not have an agent, the seller’s broker (the listing broker) should first make sure the buyer understands that they, the broker, represent the seller, and give the buyer a copy of the Law of Real Estate Agency Pamphlet.  This is required, legally.  If the buyer wants to go ahead with the offer, then the broker would fill out the offer paperwork.

This scenario may not be a problem if the buyer is fairly sophisticated and really understands what is going on. But, many buyers in this situation really don’t understand.  That broker is the seller’s agent and is not required to look out for the buyer’s best interests. They are not supposed to lie, but they are not required to protect the buyer from their own mistakes.  For example, if the buyer does not ask for an inspection contingency when describing the offer, then the broker, who is the seller’s agent, would probably not mention that fact to them (depending on if they felt it was in the seller’s best interest to have the buyer inspect or not).

Another problem I see, from the brokerage owner perspective, is that it may be hard for the broker/agent to avoid ‘helping’ the buyer, even though they don’t legally represent them.

Buyer with an agent, and seller with no agent

Seller has no agentThis is a lot more common than the previous scenario.  The classic form it takes is the For Sale by Owner (FSBO) property where the seller is willing to pay the broker bringing a buyer a commission. While more common than the previous situation, it has many of the same challenges.  The broker, who legally represents the buyer, should not be giving the seller advice on how to get more money or in how to negotiate the deal. For example, if seller doesn’t ask for earnest money (or asks for less than typical in the market), the buyer’s agent would be unlikely to offer up that fact to them, since it hurts their buyer client by putting more of their money at risk.

I think there is also a challenge here because of who is paying the money. The seller may feel later than the broker was supposed to advise them about how to proceed since they were paying them.

Buyer and seller with separate agents within the same brokerage

Brokerage as dual agentThis is probably the second most common scenario. If you work with a large real estate brokerage with many offices (which may or may not be one of the national or regional franchises like CENTURY 21, Windermere, John L Scott, Coldwell Banker, etc.), there is a decent chance that if you are the seller, the buyer may be represented by a broker from the same company as your listing agent.  Or, if you are the buyer, you may end up putting an offer in on a home listed by someone else in that company.

In this scenario, the individual brokers representing the buyer and seller are each single agents, just as if they worked for separate companies. However, as you work up the management and ownership chain in the business, someone will become a dual agent.  If both of those individual brokers are supervised by the same managing broker, the managing broker will be a dual agent.  If all else fails, the designated broker that runs the company, will be a dual agent.

Generally, this is no more a problem than it is when the individual brokers work for different companies. Typically, the designated broker’s involvement in the transaction is to review paperwork to make sure that company policies and various legal requirements are met.  They do not have a direct stake in the transaction.

However, because the company will typically stand to make more money if both the buyer’s side and seller’s side of the commission stay with the company, there may be more pressure to keep the transaction going when there are problems. For example, what if the buyer is having second thoughts after the inspection.  They are wondering if they should really by the home.  Their agent goes to his or her managing broker, or the designated broker, for advice.  That designated broker is a dual agent. They have the challenge of fairly and legally representing the needs of both the buyer and seller. They also stand to make more money, which might have an unintended (and even unrealized) influence on their thinking.

As both the designated broker and an individual broker directly involved in deals, I’ve been a dual agent many times.  It is tough. I make a point of reminding my clients about the possible conflicts of interest, especially when it’s a tough call.  I let them know up front that it’s possible that the money I stand to make on that transaction could affect my thinking.  I also remind them, myself, and any broker working for me, that if I do make a point of being honest, that I’ll make up the money later if I don’t make the money now.

Buyer and seller with the same agent

Broker as dual agentThere was a time when all real estate brokers in Washington State represented the seller by default. As you can imagine, that caused a lot of confusion for buyers who sure felt they were being represented by their broker.  Today, the law has changed and it is basically the opposite.  All brokers are assumed to represent the buyer unless they have a signed contract with the seller.  That makes things more clear.

Now, when the buyer and seller have the same broker representing them, we have a clear case of dual agency.  Everyone in the chain of command for that broker is also a dual agent.  Happily this is typically the least frequent scenario for most brokers.  Some brokers specifically avoid it by saying they will represent only the seller or only the buyer in any transaction.  This is great!  It’s the easiest and safest way to avoid lawsuits and make sure you are not hurting your clients.  Why?  Because of all the same issues mentioned when the brokerage acts as dual agent, only all the issues are intensified.  If a managing broker or designated broker is a dual agent, they may not even get part of the commission (this depends on the specific arrangement with the brokers and brokerage).  But, if you are the individual broker, unless you work on a salary, you get paid more if you represent both buyer and seller. Sometimes it is a LOT more.  I know some brokers who charge very small commissions for listings, simply because they expect to make it up by representing buyers and they encourage the seller to pay the buyers’ agents well.

For me, it is really dependent on the clients and the situation on whether I would be willing to act as a dual agent.  When listing properties, I ask the seller up front how they feel about it.  In most cases, sellers expect me to go find buyers, so they think it silly that I would NOT act as a dual agent. In fact, they might be mad if I don’t, and it hurts getting their house sold.

With buyers, it largely depends on how I met them and what kinds of homes they are interested in.  If I met them because they contacted me about a listing I represent, I need to have the conversation immediately. I always ask if they have a broker representing them, and if they do not, I then explain that I currently represent only the seller and if they would like me to represent them, I can but there are issues I need to explain.  Admittedly, the conversation make happen over a period of emails, phone calls, etc.  It doesn’t make sense to overload your potential clients with information too early.  The most important thing to remember is to make it clear what is happening, before anyone starts making decisions.  Washington State law requires that you make your agency relationship clear to anyone you are working with. There are no exceptions to that rule.

Ok. Hopefully I’ve explained the scenarios, and the challenges in each one.  If you have more questions or comments, let me know.

Posted in: Commercial real estate, Home buying, Home selling, Real estate careers, Real estate industry, Residential real estate Tagged: brokerage management, conflict of interest, dual agency, law of real estate agency

Tellus Real Estate partners with Rockwell Insitute for discounted real estate classes

We are excited to announce that Tellus Real Estate Solutions has become a satellite school partner with Rockwell Institute. We now offer online real estate classes are perfect for prospective real estate brokers interested in getting their real estate license, new agents that need to renew their license, experienced agents looking to obtain their managing broker’s license, and real estate investors or anyone else interested in learning more about the real estate industry.

You can register for classes using this link http://www.rockwellinstitute.com/WebSite/Register/Reg.asp?xid=D9EDEF779E85 or check our real estate school page for more information.

Posted in: Commercial real estate, Real estate careers, Real estate industry, Real estate investing, Residential real estate Tagged: Duvall, licensing, online, real estate classes, real estate school, rockwell, students

About Us

Welcome to Tellus Realty! We’re is committed to helping you make informed and rewarding decisions whether your or looking to buy and sell real estate, or in search of a new home for your license. Tellus Realty provided a more personal, one-on-one experience. We are not affiliated with a big-box or franchise where agents and clients are viewed as a statistic or number. Our team focuses on service and quality.

Our Communities

  • Duvall, WA
  • Woodinville, WA
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Contact Us

PO Box 1113 Duvall, WA 98019

Office@TellusRE.com
877-413-7325
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