Finance, Insurance & Real Estate
BaylorBusiness

Real Estate Courses

Undergraduate Courses

3405 Principles of Real Estate
Prerequisite(s): Eco 2306 (requirement begins Spring 2009).
An introduction to real estate principles and practices, including ethics, titles to and conveyance of real estate, legal descriptions and deeds, encumbrances, closing procedures, land economics,real estate finance, brokerage (including an overview of licensing as a real estate broker and salesperson), marketing, appraising, real estateinvestment, and taxation. Additional topics include law of agency, contracts, distinctions between personal and real property, real estate mathematics, government fair housing and fair lending law, land use planning, market and feasibility analysis, zoning (including urban problems and environmental hazards), primary and secondary markets, and real estate management. Satisfactory completion of this course, along with FIN 4220/4221 and one other Real Estate course, will qualify an individual to take the Texas real estate license examination.

4220 Real Estate Law of Agency
Co-requisite(s): FIN 4221; not open to pre-business students.
An introduction to the concept of agency as it relates to the area of real estate, including the creation of the fiduciary relationship and termination of the agent's authority. Additionally, various related topics, including employment law, deceptive trade practices, listing and buying procedures, requirements for disclosure of agency, intermediary status, and the distinction between assistance and representation, will be discussed. Satisfactory completion of this course, along with FIN 3405, FIN 4221, and one other Real Estate course, will qualify an individual to take the Texas real estate license examination.

4221 Real Estate Law of Contracts
Co-requisite(s): FIN 4220; not open to pre-business students
An introduction to the essential elements of a contract including discussions of offer and acceptance, the statute of frauds, parol evidence, specific performance and remedies for breach, and the unauthorized practice of law. Otherrelated topics will include the Texas Real Estate Commission's rules pertaining to the use of promulgated forms, owner disclosure requirements, option periods, Phase I Environmental Assessments, and case analysis of specific transactions utilizing all contract forms provided by the Commission. Satisfactory completion of this course, along with FIN 3405, FIN 4220, and one other Real Estate course, will qualify an individual to take the Texas real estate license examination.

4330 Real Estate Appraisal
Prerequisite(s): FIN 3405 and FIN 3310; not open to pre-business students.
The valuation of real estate including the functions, purposes and techniques of appraising land and improvements. Additionally, an extensive review of the concepts of ownership interests, zoning, land use regulation and related topics that affect the value of real estate is included. Students will be instructed in the use of the three fundamental approaches to valuation: the sales comparison approach, the cost-less depreciation approach, and the income capitalization approach as well as capitalization techniques used in the profession. To facilitate an understanding of the discounted cash flow techniques used in valuation, the real estate industry's leading computer software, ARGUSFinancialAnalysis, will be included.

4335 Real Estate Investments
Prerequisite(s): For Real Estate majors, FIN 3405 and FIN 3310; for Finance majors, FIN 3310; not open to pre-business students.
An analysis of real estate investments using ARGUSFinancialAnalysis, the real estate industry's leading computer software specifically designed for the analysis of income-producing property. Additionally, an extensive review of legal issues related to ownership interests, mortgages, fair housing and ADA requirements is included. Current issues as well as analytical methods are presented in a case study approach. Creative financing and income tax considerations also are included.

4340 Real Estate Finance
Prerequisite(s): For Real Estate majors, FIN 3405 and FIN 3310; for Finance majors, FIN 3310; not open to pre-business students.
The flow of real estate funds, including the origination process, the secondary market, and the securitization of mortgage pools. Microcomputers are used to analyze the cash flow and amortization characteristics of fixed-rate, variable-rate, and graduated-payment mortgages. Issues pertaining to tenure choice, expected mortgage life, and refinancing are also investigated.

4345 Real Estate Management
Prerequisite(s): FIN 3405; not open to pre-business students.
Covers management of residential, commercial, and industrial properties on behalf of owners who seek to be relieved of the responsibility of personally attending to the details of renting, rent collecting, property maintaining, and record keeping. Social obligations as well as profit goals will be thoroughly emphasized.

4V98 Special Studies in Real Estate
Prerequisite(s): FIN 3405 and consent of department chairperson; not open to pre-business students.
With the permission of the chair of the Department of Finance, Insurance, and Real Estate, this course may be taken for 1 to 6 semester hours of credit.

Graduate Courses

5330 Seminar in Real Estate Valuation
Valuation concepts and techniques necessary to appraise real estate. Topics include theoretical valuation models, regression-based models, the cost approach, market feasibility studies, and urban-growth models. Case studies require application of statistical techniques.

5V98 Special Studies in Real Estate
This course may be taken for 1 to 6 semester hours of credit.

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