A REAL ESTATE CAREER PowerPoint Presentation

A REAL ESTATE CAREER PowerPoint Presentation

2017-09-16 68K 68 0 0

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CAREER OPPORTUNITIES . & . LICENSE REQUIREMENTS. Roger Torneden, Ph.D.; CFP® . Director: Business, Management . & Legal Programs. ULCA Extension. Roger Torneden, Ph. D.. Ph. D., New York University, Stern School of Business. ID: 588399

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Slide1

A REAL ESTATE CAREER

CAREER OPPORTUNITIES

&

LICENSE REQUIREMENTS

Slide2

Roger Torneden, Ph.D.; CFP® Director: Business, Management & Legal ProgramsULCA Extension

Slide3

Roger Torneden, Ph. D.

Ph. D., New York University, Stern School of Business

M.S., University of Kansas, Operations Research

B.S. Industrial Administration, University of Kansas

Author; Speaker; Published writer of essays on economics & finance

Certified Financial Planner

Instructor

Slide4

Michael Fiorina

Total Commercial Real Estate, Founder, CEO

State Bar of California

United States District Court, Central District of California

D. C. Court of Appeals

Expert Witness: premises liability; standard of care; duty owed; breach of duty; licensee duties

State Court Receiver & Referee

Licensed California Real Estate Broker

UCLA Extension, Instructor

Slide5

What type of real estate?

When you think of the real estate business, what type of real estate comes to mind?

Slide6

Types of Real Estate Careers & Product

Housing & Dwelling Units

Residential (single family residences (“SFR”), 1-4 dwelling units, condominiums, townhomes, vacation ownership, sea-borne residences)

Multi-family - 5 units or more (market rate; student housing; seniors; subsidized; tax credit)

Commercial - Retail

Regional Malls, Power Centers, Neighborhood Centers, Strip Centers, Triple Net,

Commercial

- Office

High rise; garden style; “creative”;

Industrial

Warehouse, manufacturing, distribution, “pick-pack & ship”

Storage Facilities (household goods, art, wine, vehicles)

Slide7

Hospital; urgent careAssisted living & convalescent facilitiesAgricultureAgriculture (vineyards, orchards, timber land, live stock, other crops)Mineral rights, Rights of Way; Water Rights (sale / trade)Conservation EasementsEntertainment Venues; theme parks; sports facilities; golf; resortPower generating facilities; oil, gas, solar, wind, nuclear, geothermal; hydropowerReligious, education & government installations

Medical

Slide8

Government agencies; regional authorities (RWQCB, AQMD, CCC, CEC, MTA)Public/Private partnerships (Grand Park; LA River Project)United States Green Building Council USGCB) and design, construction & management“LEED” – Leadership in Energy & Environmental DesignFinance: Debt & EquityMortgage lenders/brokers; Loan servicingGSE’s: Fannie, Freddie, FHA, Ginnie Mae; VA, Cal VetBanks, Savings & Loans, credit unions, wealth management; Family OfficePrivate equity funds Debt markets: RMBS/CMBSCorporate debt (bonds)Pension funds; life companies

Urban Planning & Land Use

Slide9

Insurance & Risk Management

Construction (hazard, defect, wrap,

completion)

Liability, Errors & Omissions, fidelity bond, Workers’ Compensation, performance & completion

bonds,

OSHA

&

EDD Compliance

Land Use, Entitlement & Development

Zoning & Government Regulation

Site Acquisition

Demographic Research & Analysis

Land Survey

Title Insurance

Environmental Study, Review, & “Impact Reports”

Financial Modeling & Projections

Design: Architecture, Exterior, Interior

Engineering: Geologic, Civil, Structural, Mechanical

Construction & Project Management

Slide10

Appraisal

Uniform Standards of Professional Appraisal Practices (“USPAP”)

Commercial Real Estate Brokerage

Sales; acquisitions; like-kind exchanges; leasing

Business opportunities (“Bulk Sales”)

Listing services (Reis, Loopnet, CoStar, AIR,

Xceligent

)

Residential Real Estate Brokerage

Single Family Residences

Planned Unit Developments (“PUD’s”) e.g., condominiums

Time Shares/Fractional Ownership

Listing Services (NAR, MLS,

Zillow

,

Redfin

,

Trulia

)

Slide11

California Bureau of Real Estate (“BRE”)

“The mission of the California Bureau of Real Estate is to safeguard and promote the public interests in REAL ESTATE MATTERS through licensure, regulation, education and enforcement.”

Slide12

BRE Home Page: Essential Information

Verify a Real Estate License

2017 Real Estate Law Book

Consumer Alerts

Current News

FAQs

Department of Consumer Affairs

Multiple Jurisdiction License Lookup

Forms

File a Complaint

Real Estate Business Resources

Complete List of Publications

Invitation for Public Comment/Hearing Notices

C

alBRE

has 5 offices and is HQ’d in Sacramento.

Public Information Line: 877-373-4LIC (4542)

Slide13

Salesperson Licensing Requirements

Salesperson license applicants must:

Be 18 years old

Be honest

Be breathing

“Successfully complete” 3 BRE approved courses

Pass the salesperson exam

Apply for the license and pay the application fee

Slide14

Broker Licensing Requirements

Broker license applicants must:

Be 18 years old

Be honest

Successfully complete 8 approved courses

2 Years of full time experience (or equivalent or Bachelors in real estate –or minor)

Pass the Broker exam

Apply for the license and pay the application fee

Slide15

15

Founded Amalfi Estates, a luxury residential real estate firm based in Pacific Palisades 22 years ago# 1 agent in the Palisades, 13th in LA, 60th in the nation Sold $135 Million in 2015$1 Billion in properties sold and helped over 600 familiesPublished 300 articles10% of each commission goes to charity of our clients choiceHow I started? solo agent vs team concept

Anthony Marguleas

310-293-9280 cell

anthony@amalfiestates.com

Slide16

16

The

Marguleas Team

Slide17

17

Developers & New Construction

Market Trends

Slide18

18

Pacific Palisades’ Annualized Data

Slide19

Virtual tour combines still photos, aerial shots and videoStaging

19

Marketing

Slide20

20

How many hours does a typical agent work?What is the average income for a real estate agent in LA?How long does it take to sell your 1st home?How many homes does an average agent sell?How much would an agent make selling a $1M home?

Real Estate Questions

Slide21

21

Find a niche, specialty market: EBA (Exclusive Buyer’s Agent, Luxury home specialist, condos, 1st time buyers, or farm a specific geographical areaOver deliver and under commitBe an expert in your market, go to as many open houses as possible. Study why some homes sold for what they did.Hours for licensee, Dr 9K, dentist 7.5K, lawyer 6K, dental assist 1.5K, taxi driver 104, Realtor was 45 and now 135.Study the real estate contractsListen to your clients and what they really wantAlways ask “what is in the client’s best interest”?Be an assistant to a top agent in your town

Tips to be a Successful Agent

Slide22

Hello UCLA!

Slide23

ABOUT MICHAEL

MICHAEL

WILLIAMSONExecutive Vice President and PartnerInspired by Aaroe’s vision for a fully supportive agent environment, noted real estate leader Michael Williamson became a partner in the new John Aaroe Group in early 2009. On the firm's launch, he opened and managed its first branch in Sherman Oaks. Michael began selling real estate three decades ago, rising to Top Producer status at Jon Douglas Company. He later transitioned to branch management, skillfully guiding and supporting agents there and at Coldwell Banker. In 1999, Michael moved to Prudential California Realty to open the Laurel Canyon branch of the firm’s new John Aaroe Division. He later introduced the brand to the Coachella Valley, serving as Regional Manager and heading the Palm Springs office.

Slide24

ABOUT JOHN AAROE GROUP

OUR COMPANY

John

Aaroe

Group is a Los Angeles owned and operated real estate brokerage with strategic locations in Beverly Hills, Brentwood, Sunset Strip, Baldwin Hills/View Park, Sherman Oaks, Studio City, Toluca Lake, Downtown LA, and Pasadena. Because neighborhood knowledge is a key factor in achieving the most successful results for you, we’ve established these core offices to customize our services to the unique neighborhood personalities that make up the greater Los Angeles area

.

OUR PEOPLE FIRST PHILOSOPHY

While technology, marketing, research and statistics play important roles in any successful real estate transaction, the most critical element of all is people. When you bring the right buyers, sellers or investors together, the result is a solid deal with a rewarding outcome. Our agents are experts at creating this synergy — and it’s the aspect they love most about what they do.

OUR MISSION

John

Aaroe

Group intends to be the preeminent real estate firm in selected affluent markets throughout Southern California. We will reach our goal while reflecting the core philosophies of our founder: every agent is experienced and committed to upholding our high standards of integrity and personal service … every client is carefully counseled, skillfully represented and treated with respect … and our expert management team is dedicated solely to helping our associates and clients achieve their goals.

Slide25

OUR OFFICES

Slide26

AU CALENDAR

Slide27

Thank you

UCLA

!

Slide28

Andrew Manning

Slide29

QUIZ

1. The California Bureau of Real Estate (“BRE”) issues how many different types of real estate licenses?

one

two

three

four

2. California real estate law requires all Sellers of single family residences (“SFR”) to pay a real estate commission equal to __% of the gross sale price.

2%

5%

6%

There is no California law that requires any payment of any real estate brokerage commissions to any real estate licensee, upon sale of any SFR

Slide30

3. To obtain a California Salesperson or Broker license, the applicant must be present in the U.S. legally.

true

false

4. Which of the following is a legally valid form of commission payment to a real estate licensee?

money

promissory

note

equity interest in the acquired property

Lakers or Clippers

tickets

Stock options

wine

“in-kind” remuneration

any of the above

Slide31

5.

Upon resale, which

home

improvement

projects are most likely to return

to the seller at

least the original capital

investment?

kitchen or bathroom remodel

adding one bedroom

installing a swimming pool/spa feature

installing a new energy efficient/fire resistant roof

adding a 2-car garage

installing an outdoor cooking/dining area

6. Since WW II, the average rate on a 30 year, fixed rate, conforming mortgage is:

Between 6% and 7%

Approximately 4.5 %

Less than 4 %

3.75 %

Slide32

7. The terms “agent” and “Realtor” are synonymous.

true

false

8. The Federal Reserve (the “Fed”), chaired by Janet

Yellen

, determines home mortgage interest rates.

true

false

9. Under California law, a neutral 3

rd

party called an escrow company, is required in the sale of a single family residence (SFR) to a homebuyer.

true

false

Slide33

10. Freda, a 39 year old single woman, owns, as her sole and separate property, a 10 acre, 180° view bluff-top, single family residence appraised at $20 million, on the edge of

Toyopa

Drive in Pacific Palisades overlooking the Pacific Ocean. The property is free and clear of all liens and loans. Freda fell in love with her new bf, 23 year old Jay-Sea-Vu, who has just arrived from Texas and moved in with her as he tries to make it as a singer in Hollywood. He convinced Freda to marry him. After marrying Jay-Sea-Vu, and immersed in wedded bliss, Freda’s

Toyopa

Drive mansion:

automatically becomes Community Property, ½ owned by her husband, Jay-Sea-Vu

can never become Community Property

may gradually become Community Property during the duration of the marriage

remains her sole and Separate Property until she decides to allow it to become Community Property

Slide34

THANK YOU 

WE LOOK FORWARD TO

SEEING YOU

TEACHING YOU

&

TO YOU

LEARNING IN OUR

CLASSES !

UCLA EXTENSION


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