The Real Estate Broker Certificate of Achievement will qualify and prepare students to take the written examination for a California Real Estate Broker license.
|2017/2018 Academic Year||2018/2019 Academic Year|
|Annual # Sections||Annual Enrollment||Annual # Sections||Annual Enrollment|
|RE 11||Real Estate Principles||7||281||8||332|
|RE 13||Real Estate Practice||5||214||6||275|
|RE 14A||Real Estate Finance I||2||59||1||26|
|RE 14B||Advanced Real Estate Finance||N/A||Not Offered||N/A||Not Offered|
The goal of the Real Estate Finance Certificate is to provide students with the knowledge, skills, and abilities to obtain entry-level real estate finance positions such as real estate transaction coordinators, real estate portfolio investment associates, lease administration assistants, and property management assistants. Students who complete the program will be able to find sources of real estate financing for residential and commercial properties, such as first time homebuyer programs, jumbo loans, and bridge loans. Calculate loan amortization, capitalization (cap) rates, and loan-to-value ratios. Decide the best choice of financing for a client from private lenders to government-assisted program such as VA, FHA, and SBA loans and the role of the secondary mortgage market in the industry.
The program will provide students with the knowledge and skills to:
• Operate a real estate financial calculator, compare and analyze present value (PV) and future value (FV) to choose an appropriate rate of return on a real estate investment.
• Understand the main players in the secondary mortgage market (Fannie Mae, Freddie Mac, Ginnie Mae) and describe their functions.
• Compare the characteristics of conventional loans with those of FHA-insured loans and VA-guaranteed loans.
• Discuss the process and implications of defaults and foreclosures.
• Understand the role of an appraisal in determining a property’s market value and its impact on obtaining financing.
• Outline the steps for a tax-deferred (1031) exchange to minimize tax liability.
• Structure an installment sale for a real property transaction.
El Camino College’s real estate program is one of the oldest programs at the college. The department has a strong reputation of producing high-quality students with the knowledge, skills, and abilities to succeed in the industry. Over the last two decades, with the expansion of the internet, many private schools began offering real estate courses entirely online, which meet the state requirements. However, El Camino College has the expertise and reputation to provide a superior alternative to those private programs.
Based on the Real Estate Department's 2019 program review, El Camino College has seen increasing enrollment in our real estate courses over the last five years. The department had an all-time high of 453 enrolled students in the 2018-2019 academic year. For comparison purposes, the 2014-2015 academic year reflected an enrollment of 230 students. El Camino College’s real estate program ranks sixth in the entire state based on enrollment numbers, and is only 88 students shy of ranking first in the state.
While department enrollment has grown, the program offerings have remained static. Based on our program review, our current offerings do no fully align with the industry and the demand for fully qualified real estate professionals. The department has only offered one associate degree and two certificate programs, which have not been aligned to changes in the industry or adjusted to meet the strong labor demand for real estate professionals.
Currently, there is high demand for entry-level to middle-skilled level real estate professionals. The Los Angeles/Orange County Center of Excellence for Labor Market Research recently indicated that the labor market demand for the real estate industry is not being met by the current supply of community college programs. Based on the COE data, the department’s advisory committee recommended that the department expand the number of certificates offered in the program to add eight new specialized certificates to better prepare students for future careers in various real estate specializations.
This Certificate of Achievement – Real Estate Finance, will prepare more students for real estate specialization positions and help meet the labor demand in the region. This certificate is part of the greater expansion of the real estate program at El Camino College. In addition, this certificate will support students who aspire to become real estate professionals by encouraging them to continue their education and obtain specialized certifications.
This program has been endorsed by the COE.
(Y1 or S1)
|RE11||Real Estate Principles||3||S1|
|RE13||Real Estate Practice||3||S1|
|RE14A||Real Estate Finance I||3||S1|
|RE14B||Advanced Real Estate Finance||3||S1|