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Real Estate (REA)

REA 100  (3 credit hours)  
Real Estate Principles I  

Introduces real estate as a business and as a profession, designed to acquaint the student with the wide range of subjects necessary to the practice of real estate. Includes license law, ethics, purchase and listing agreements, brokerage, deeds, financing, appraisals, mortgages, and real estate property managements. Lecture: 3.0 credits (45 contact hours).

Attributes: Technical
Components: LEC: Lecture
REA 120  (3 credit hours)  
Real Estate Marketing  

Includes marketing and selling of real estate properties. Emphasizes qualifying prospects, preparing for property showings, negotiating the sale, developing a five-year goal plan, and managing time. Utilizes computer applications. Lecture: 3.0 credits (45 contact hours).

Attributes: Technical
Components: LEC: Lecture
REA 121  (3 credit hours)  
Appraising  

Addresses appraising residential real estate for loans, estates, condemnations, and listings, and the factors that contribute to the value of real estate. Includes three methods of estimating value with emphasis given to the market data approach. Lecture: 3.0 credits (45 contact hours).

Components: LEC: Lecture
REA 122  (3 credit hours)  
Construction and Blueprints  

Includes the basic concepts of construction, design, and blueprint reading. Lecture: 3.0 credits (45 contact hours).

Attributes: Technical
Components: LEC: Lecture
REA 200  (3 credit hours)  
Real Estate Principles II  

Continues Real Estate Principles I with emphasis on license law, finance, property management, marketing, land planning and development, brokerage management, fair housing, and appraising. Lecture: 3.0 credits (45 contact hours).

Pre-requisite: REA 100.
Attributes: Technical
Components: LEC: Lecture
REA 201  (3 credit hours)  
Property Management  

Examines the basics of managing income-producing real property. Includes management plans, tenant selection, marketing and advertising, accounting methods, net operating income statements, maintenance, and the Landlord Tenant Act. Lecture: 3.0 credits (45 contact hours).

Pre-requisite: REA 100.
Components: LEC: Lecture
REA 202  (3 credit hours)  
Real Estate Investments I  

Introduces various types of real estate investments. Includes a comparison of investments in real estate with other types of investments. Covers basic fundamentals of investment analysis and terminology. Lecture: 3.0 credits (45 contact hours).

Components: LEC: Lecture
REA 203  (3 credit hours)  
Commercial and Industrial Property  

Covers classifications of commercial and industrial properties. Includes investment, environment, financing, taxes, depreciation, ownership, cash flow projection, and discount analysis. Integrates computer applications. Lecture: 3.0 credits (45 contact hours).

Components: LEC: Lecture
REA 204  (3 credit hours)  
Land Planning and Development  

Includes the specialized field of land planning and development with emphasis on new home construction. Includes market research, site selection and analysis, regulations, financing, earthwork, streets, and landscaping. Lecture: 3.0 credits (45 contact hours).

Components: LEC: Lecture
REA 205  (3 credit hours)  
Farm Brokerage  

Includes farm brokerage and specific subjects relating to the sale of farm property. Covers listing, prospecting, showing, financing, negotiating and closing the farm sale as well as the duties of the farm manager. Lecture: 3.0 credits (45 contact hours).

Components: LEC: Lecture
REA 212  (3 credit hours)  
Real Estate Investments II  

Includes an analysis of operations and cash flow with detailed instruction on the use and calculation of internal rate of return, financial management rate of return, operational and feasibility analysis, and model investment projections. Lecture: 3.0 credits (45 contact hours).

Pre-requisite: REA 202.
Components: LEC: Lecture
REA 220  (3 credit hours)  
Real Estate Brokerage Management  

Includes basic real estate principles and theories as they apply to real estate brokerage management. Includes legal and work environment; brokerage management concepts; employment agreements; personnel selection, compensation, and management; policy manuals; listing and marketing management; and financial control. Lecture: 3.0 credits (45 contact hours).

Attributes: Technical
Components: LEC: Lecture
REA 222  (1 credit hours)  
Uniform Standards of Professional Appraisal  

Provides an understanding and appreciation of the Uniform Standards of Professional Appraisal Practice (USPAP) and how these standards set the minimum foundation on which both the development of an appraisal and the reporting of that appraisal must adhere and develop. Meets the pre-licensing and continuing education requirements of the Kentucky Real Estate Appraisers Board and the Appraisal Institute. Lecture: 1.0 credit (15 contact hours).

Pre-requisite: REA 121 or Appraiser's license.
Components: LEC: Lecture
REA 225  (3 credit hours)  
Real Estate Finance  

Examines all aspects of real estate finance including financial instruments, financial institutions, buyer qualifications, and mortgage markets. Includes governmental influence, risk analysis, and financing of income-producing properties. Lecture: 3.0 credits (45 contact hours).

Attributes: Technical
Components: LEC: Lecture
REA 230  (3 credit hours)  
Real Estate Law  

Examines the laws and regulations pertaining to real estate and related environmental issues. Includes ownership rights, title examination, planning and zoning, contracts of sale, Fair Housing regulations, agency issues, court systems and recent court decisions. Lecture: 3.0 credits (45 contact hours).

Attributes: Technical
Components: LEC: Lecture
REA 299  (1-3 credit hours)  
Selected Topics in Real Estate: (Topic)  

Includes topics to expand course offerings as new technology and information are developed, as well as to address local real estate needs. Covers various topics from semester to semester at the discretion of the instructor. (May be repeated to a maximum of six credit hours.) Lecture: 1-3 credits (15 contact hours). .

Pre-requisite: Consent of instructor.
Components: LEC: Lecture