• Pre-Closing Procedures
  • Sellers Issues
  • Buyers Issues
  • Title Issues
• Conducting the Closing
  • Face to Face Closing
  • Closing In Escrow
  • IRS Issues
  • Brokers Role
  • Lenders Interest
• RESPA Requirements
  • Loan Disclosure Document
  • Closing Disclosure Form
  • Truth In Lending Act
• Preparation of the Closing Statement
• Proration 

• Environmental Issues
• Hazardous Substances
  • Radon
  • Formaldehyde Insulation
  • Carbon Monoxide
  • Mold
  • Electromagnetic Fields
• Ground Water and Percolation
• Underground storage Tanks
• Waste Disposal Sites
• Brownfield
• EPA and IEPA
• Implication and Liability to Brokers and Salespersons

• The Industry's goal of Equal Opportunity in Housing
• Federal Fair Housing Acts
  • Various Federal Laws
  • Administration and Definitions
  • Exemptions to the Federal Fair Housing Acts
  • ADA
• Fair Housing Practices
• Enforcement
• Illinois Humans Rights Sct
• Enforcement of the Illinois Human Rights Act
• Implication to Brokers and Salespersons

• Land Use Controls
  • Police Powers
  • Home Rule and Non Home Rule
  • Enabling Acts
• The Comprehensive Plan
• Zoning Ordinances
• Building Codes
• Subdivision Regulations
• Private Land Use Controls
• Land Sale Regulations

• Definition of Appraisal
• Appraisal Licensing and Certification
• Definition and Types of Value
• Basic Appraisal Principles
• Three Approaches to Value
  • Sales Comparison Approach
  • Cost Approach
  • Income Approach
• Gross Rent and Gross Income Multipliers
• Reconciliation of Values
• Appraisal Report

• The Property Manger
• The Property Managers Responsibility
• Risk Management
• The Property Management Profession

• Definition of a lease
• Leasehold Estates
  • Estate For Years
  • Estate from Period to Perios
  • Estate at Will
  • Estate at Sufferance
  • Leasehold Estate
• Requirements of a Valid Lease
• Types of Leases
• Discharge of Leases
• Civil Rights Laws
• Environmental Issues with Leases
• Regulation of the Leasing Industry
• Residential Leashing Agents
• Referral Fees

• The Federal Reserve System
• The Primary Mortgage Market
• The Secondary Mortgage Market
• Financing Techniques
• FHA,VA, and Conventional Loans
• Other Financing Techniques
• Other Loan Programs
• Financing legislation

• Mortgage Law Principles
• Hypothycation
• Documents used in a mortgage Loan
• Details of the Note
• Details of the mortgage
• Types of Mortgages

• The Illinois License Act 2000

• What are the Various Public Records
• What does Recording Mean
• Notice
• Unrecorded documents
• Chain of Title
• Title Search and Abstract of Title
• Proof of Ownership
• Title insurance Policies
• Types of Policies

• Methods of Transferring Tile
  • Voluntary Alienation
  • Involuntary alienation
  • Wills
  • By Descent
• Types off Deeds
  • Warranty Deeds
  • Special Warranty Deeds
  • Quit Claim Deeds
• Adverse Possession, Foreclosure ,Eminent Domain, Escheat

• Definition of Contracts
• Express and Implied Contracts
• Bilateral and Unilateral Contracts
• Executed and Executory Contracts
• Essential Elements of a Contract
• Discharge of Contracts
• Contracts used in the Real Estate Business
• Parts of a Sales Contract
• Earnest Money Deposits
• Equitable Title
• Option Contacts
• Land or Installment Contracts

• Types of Liens
• Effects of Lines of Title
• Priority Of Liens
• Subordination
• Real Estate Tax Liens
• General "Ad Valorum" Property tax
• Special Assessments and SSA's
• Other Liens
  • Mortgage Liens
  • Mechanics Liens
  • Judgments
  • IRS Liens
  • Estate and Inheritance Tax liens
  • Corporate Franchise Tax Liens

• Methods of Describing Real Estate
• The Rectangular Survey System
  • Townships
  • Sections
  • Legal Descriptions and Acerage
• Lot and Block System
• Surveys
• Datum

• Ownership In SEveralty
• Co-Ownership
• Tenancy In Common, Joint Tenancy,and Tenancy by the Entirety
• Partition suit
• Community Property
• Land Trusts
• Ownership by Business Organization
• Condominiums and Cooperatives
• Time Share

• The Governmental Powers ( PETE)
• Estates In Land
• Freehold vs. Leasehold
• Fee simple Defeasible and Life Estates
• Legal Life Estates
• Encumbrances ( Liens, Easements, Restrictions)
• Types of Easements
• Creating and Terminating and Easements
• Riparian and V. Littoral Water rights
• Accretion, Erosion and Avulsion

• Various Types of Brokerage Agreements
• Statute of Frauds
• Types of Listing Agreements
• Net Listing Agreements
• The Listing Process
• The Listing Agreement
• Listing Agreement Issues
• Minimum Services
• Broker Protection Clauses
• Buyer Agency Agreements
• Termination of Broker Employment Agreements

• Types of  Illinois real estate Licensees
• Sponsoring and Managing Brokers
• IRS Considerations : Independent Contractor vs. Employees
• Managing Broker Responsibilities
• The Policy and Procedure Manual
• Licensee Safety
• E and O Insurance
• Personal Assistants: Licensed and Un-licensed
• Broker Compensation and Commissions
• Procuring Cause
• Anti Trust and Consumer Protection Laws

• The Law of Agency
• Agency in Illinois ( Designated Agency)
• Important Agency Definitions
• Fiduciary( Client) Duties
• Residential Real Property Disclosure Report
• Misrepresentation, Fraud and Concealment
• Stigmatized Properties
• Customer Level Services
• Creation and Termination and Disclosure of Agency
• Types of Agency Relationships
• Dual Agency

• Definition of Land, Real Estate and Real Property
• The Bundle of Legal Rights
• Real Property V. Personal Property
• Fixtures vs. Trade Fixtures
• Physical and Economic Characteristics of Real Estate
• 7 Bodies of Law that Affect Real Estate

Definition of Real Estate Land and Real Property

Industry Career Fields

Forces of Supply and Demand

Physical and Economic Characteristics of Real Estate