Introduction to Real Estate

RED 301
Location: TBD
Time: TBD
Instructor: James B. Marian, MRED, CCIM
Instructor Email:
Instructor Office: CAPLA East A303G

[Administrative Note: Revisions to Course Objectives/Expected Learning Outcomes, Absence/Class Participation

Policy, and Accessibility/Accommodations approved by Faculty Senate, 11/5/18.]

Description of Course
Introduction to Real Estate provides students interested in the property market introduction and exposure to
its people, vocabulary, economic forces, regulatory and environmental frameworks, capital markets, and
transaction processes. By the end of the course, students, via lectures, case presentations, and guest
speakers, will be able to: identify, define, and utilize foundational real estate vocabulary; distinguish
between forms of property description, contracts, ownership, transaction, and liability issues germane to
each; identify, define, and demonstrate the role of regulation a in the real estate markets; identify, describe,
and discuss the factors shaping estimates of property value and methods used to generate those estimates;
identify and describe factors influencing the equity and debt markets as well as the investment of both types
of capital; conduct some forms of empirical analysis; and locate, describe, and evaluate various
opportunities for employment in the residential and commercial real estate markets. Completion of the
course will prepare students well to take state real estate sales licensing courses if they choose to pursue
such a pathway.

Course Prerequisites or Co-requisites

There are no perquisites for this course. There are a number of courses recommended to provide context to
the material presented here and in the Real Estate Minor. They can be found at: (CAPLA website link to be
created).

Instructor and Contact Information

Instructor name: James B. Marian, MRED, CCIM
Office location: CAPLA East A303G
Telephone number: TBD
E-mail address: jbmarian@email.arizona.edu
Office Hours: TBD
Teaching assistants (if applicable) and their contact information and office hours (if applicable)
Web information: D2L web address

Course Format and Teaching Methods

Class Format: Lecture including small-group activities, case studies, and in-class discussion;
Evaluation Methods: In-person testing/evaluation
Course Objectives
In this course, students will learn to identify, define, and utilize foundational real estate vocabulary,
distinguish between forms of property description, contracts, ownership, transaction, and liability issues germane to
each, Additionally, students will learn about real estate regulation, estimating real estate values, real estate capital
markets, and employment opportunities in both the residential and commercial real estate marketplaces.
Competency will be demonstrated through quizzes, exams, and class presentations.

Expected Learning Outcomes

1. Identify, define, and utilize foundational real estate vocabulary
2. Distinguish between forms of property description, contracts, ownership, transaction, and liability issues
germane to each;
3. Identify, define, and demonstrate the role of regulation a in the real estate markets;
4. Identify, describe, and discuss the factors shaping estimates of property value and methods used to generate
those estimates;
5. Identify and describe factors influencing the equity and debt markets as well as the investment of both
types of capital;
6. Conduct some forms of empirical analysis; and
7. Locate, describe, and evaluate various opportunities for employment in the residential and commercial real
estate markets.

Absence and Class Participation Policy

Participating in the course and attending lectures and other course events are vital to the learning process.
As such, attendance is required at all lectures and discussion section meetings. Absences may affect a
student’s final course grade. If you anticipate being absent, are unexpectedly absent, or are unable to
participate in class online activities, please contact me as soon as possible. To request a disability-related
accommodation to this attendance policy, please contact the Disability Resource Center at (520) 621-3268
or drc-info@email.arizona.edu. If you are experiencing unexpected barriers to your success in your
courses, the Dean of Students Office is a central support resource for all students and may be helpful. The
Dean of Students Office is located in the Robert L. Nugent Building, room 100, or call 520-621-7057.
The UA’s policy concerning Class Attendance, Participation, and Administrative Drops is available at:
http://catalog.arizona.edu/policy/class-attendance-participation-and-administrative-drop
The UA policy regarding absences for any sincerely held religious belief, observance or practice will be
accommodated where reasonable, http://policy.arizona.edu/human-resources/religious-accommodation-
policy.

Absences pre-approved by the UA Dean of Students (or Dean Designee) will be honored. See:
https://deanofstudents.arizona.edu/absences

Makeup Policy for Students Who Register Late

Students who register after the first class meeting may make up missed assignments. Please email the
instructor to coordinate.

Course Communications
Online communication will be conducted using official UA email addresses and also through D2L’s email
function.
Required Texts or Readings
Required Textbook: Real Estate Principles: A Value Approach, 5th Edition
Authors: David Ling and Wayne Archer
ISBN13: 9780077836368
Copyright: 2018
Availability: Students may purchase textbook in physical or e-format, as they deem appropriate for their
budgets. The instructor will also place a copy on reserve in the library.
*All additional required material will be provided via D2L.

Required or Special Materials

No special material, tools, or accessories are required for this course.

Required Extracurricular Activities

No field trips or extra-curricular activities are required. If any are offered, they will be considered optional
and students who do not attend will not be penalized in any way, shape, or form.

Assignments and Examinations: Schedule/Due Dates

Students’ performance in the class will be assessed using four tests. Each test will consist of a range of
question types.

*Note: Policy on revision and resubmission of assigned papers: n/a given assessment typology

Writing Requirement
This class does not qualify as an intensive writing course.

Final Examination or Project

Note: Test 4 will occur during the final exam period for the term. Please note that the date and time of the
final exam period, along with links to the Final Exam Regulations can be found at:
https://www.registrar.arizona.edu/courses/final-examination-regulations-and-information
And : http://www.registrar.arizona.edu/schedules/finals.htm

Grading Scale and Policies

University policy regarding grades and grading systems is available at
http://catalog.arizona.edu/policy/grades-and-grading-system
Point score and Grade

<60 (E); 60.0-69.9 (D); 70.0-79.9 (C); 80.0-89.9 (B); and 90.0+ (A).

Students’ grades will be calculated using the following formula:

Grade = (Test 1 * 25%) + (Test 2 * 25%) + (Test 3 * 25%) + (Test 4 * 25%)
Note: This course follows the “40% rule,” which means that students will complete at least 40% of the
grade-points by the end of the 8th week of classes.
Incomplete (I) or Withdrawal (W):
Requests for incomplete (I) or withdrawal (W) must be made in accordance with University policies, which
are available at http://catalog.arizona.edu/policy/grades-and-grading-system#incomplete and
http://catalog.arizona.edu/policy/grades-and-grading-system#Withdrawal respectively.

Dispute of Grade Policy

If a student wishes to dispute their grade on a test, they must discuss with the instructor within one week of
receiving their grade or the grade being posted to D2L, whichever is earlier. Care will be taken to ensure
fairness to all.

Honors Credit
Students wishing to receive honors credit for this course must develop a contract with the instructor per UA
policies listed here: https://honors.arizona.edu/honors-contract-policies

Classroom Behavior Policy

To foster a positive learning environment, students and instructors have a shared responsibility. We want a
safe, welcoming, and inclusive environment where all of us feel comfortable with each other and where we
can challenge ourselves to succeed. To that end, our focus is on the tasks at hand and not on extraneous
activities (e.g., texting, chatting, reading a newspaper, making phone calls, web surfing, etc.).
Students are asked to refrain from disruptive conversations with people sitting around them during lecture.
Students observed engaging in disruptive activity will be asked to cease this behavior. Those who continue
to disrupt the class will be asked to leave lecture or discussion and may be reported to the Dean of Students.

Usage of Computers: Restricted to Specific Area of Classroom

Some learning styles are best served by using personal electronics, such as laptops and iPads. These
devices can be distracting to other learners. Therefore, students who prefer to use electronic devices for
note-taking during lecture should use one side of the classroom. Location to be determined by instructor.

Threatening Behavior Policy

The UA Threatening Behavior by Students Policy prohibits threats of physical harm to any member of the
University community, including to oneself. See http://policy.arizona.edu/education-and-student-
affairs/threatening-behavior-students.

Accessibility and Accommodations

At the University of Arizona, we strive to make learning experiences as accessible as possible. If you
anticipate or experience barriers based on disability or pregnancy, please contact the Disability Resource
Center (520-621-3268, https://drc.arizona.edu/) to establish reasonable accommodations. 

Code of Academic Integrity

Students are encouraged to share intellectual views and discuss freely the principles and applications of
course materials. However, graded work/exercises must be the product of independent effort unless
otherwise instructed. Students are expected to adhere to the UA Code of Academic Integrity as described in
the UA General Catalog. See: http://deanofstudents.arizona.edu/academic-integrity/students/academic-
integrity.
The University Libraries have some excellent tips for avoiding plagiarism, available at
http://new.library.arizona.edu/research/citing/plagiarism.
Selling class notes and/or other course materials to other students or to a third party for resale is not
permitted without the instructor’s express written consent. Violations to this and other course rules are
subject to the Code of Academic Integrity and may result in course sanctions. Additionally, students who
 use D2L or UA e-mail to sell or buy these copyrighted materials are subject to Code of Conduct Violations
for misuse of student e-mail addresses. This conduct may also constitute copyright infringement.

UA Nondiscrimination and Anti-harassment Policy

The University is committed to creating and maintaining an environment free of discrimination; see
http://policy.arizona.edu/human-resources/nondiscrimination-and-anti-harassment-policy
Our classroom is a place where everyone is encouraged to express well-formed opinions and their reasons
for those opinions. We also want to create a tolerant and open environment where such opinions can be
expressed without resorting to bullying or discrimination of others.

Additional Resources for Students

UA Academic policies and procedures are available at http://catalog.arizona.edu/policies
Student Assistance and Advocacy information is available at http://deanofstudents.arizona.edu/student-
assistance/students/student-assistance

Confidentiality of Student Records

http://www.registrar.arizona.edu/personal-information/family-educational-rights-and-privacy-act-1974-
ferpa?topic=ferpa

Subject to Change Statement

Information contained in the course syllabus, other than the grade and absence policy, may be subject to
change with advance notice, as deemed appropriate by the instructor.

Scheduled Topics/Activities
Class will be held each week on X and Y. For the ease of communication, the first class of each week will
be known as Class 1 and the second class session of the week will be known as Class 2.
Note on Readings and Class Preparation: Students are expected to complete all readings and class
preparation before the start of Class 1 each week. Case presentation materials will be provided on D2L for
each guest speaker/presenter.

Week 1: The Nature of Real Estate and Real Estate Markets

Required Reading:
 Ling & Archer (hereinafter referred to as L&A) Chapter 1
 Syllabus
 Current Events in Real Estate
Background, Vocabulary, & Framework, Review Assignment #1

Week 2 & 3: Legal and Regulatory Determinants of Value

Required Reading:
 L&A Chapters 2, 3, & 4
 Current Events in Real Estate
Week 2: Background, Vocabulary, & Framework
ASSIGNMENT # 1 DUE- POST TO D2L
Guest Speaker & Discussion: Jim Hogan, DREI, ABR, Founder Hogan School of Real Estate
Week 3: Amelie Marian, Residential Real Estate Broker, Portland, Oregon
Week 4 & 5: Market Valuation and Appraisal
Required Reading:
 L&A Chapters 5, 6, 7, & 8
 Current Events in Real Estate
Week 4: Background, Vocabulary, & Framework and REVIEW FOR TEST # 1
Week 5: Guest Speaker & Discussion: Tom Baker, owner Baker-Peterson Appraisal
AND TEST # 1

Week 6 & 7: Financing Home Ownership

Required Reading:
 L&A Chapters 9, 10, & 11
 Current Events in Real Estate
Week 6: Background, Vocabulary, & Framework
Week 7: Guest Speaker & Discussion: Sandra Barton & team, Alliance Bank of Arizona and Jeff
Singleton, Executive Director, Southern Arizona Land Trust and REVIEW FOR TEST # 2

Week 8: Brokering and Closing the Transaction

Required Reading:
 L&A Chapters 12 & 13
 Current Events in Real Estate
Week 8: Background, Vocabulary, & Framework + Guest Speaker & Discussion: Randy Rogers, CEO,
Tucson Association of Realtors and Broker TBD
AND TEST # 2

Week 9 & 10: Time, Opportunity Cost, and Value Decisions

Required Reading:
 L&A Chapters 14 & 15
 Current Events in Real Estate
Week 9: Background, Vocabulary, & Framework
Week 10: Guest Speaker & Discussion: Bill Kelly, SVP Diamond Ventures
Week 11 & 12: Financing and Investing in Commercial Real Estate
Required Reading:
 L&A Chapters 16, 17, 18, 19
 Current Events in Real Estate
Week 11: Background, Vocabulary, & Framework and REVIEW FOR TEST # 3
Week 12: Guest Speaker & Discussion: George Larsen & Melissa Lal, owner & CEO of Larsen Baker
*Week 12: TEST # 3
Week 13 & 14: Creating and Maintaining Value
Required Reading:
 L&A Chapters 21, 22, & 23
 Current Events in Real Estate
Week 13: Background, Vocabulary, & Framework
Guest Speaker & Discussion: Paul Kraft, CEO, Clover Companies & Ross McAllister, CEO, MC
Companies
Week 14: LAB-COMPLETE RESEARCHING AND WRITING - ASSIGNMENT # 2

Week 15 & 16: Real Estate Development Case Presentation & ASSIGNMENT # 2 PRESENTATIONS
Required Reading:
 TBR
 Current Events in Real Estate
Week 15: Case Presentation Michael Kasser, Halualoa Companies and Assignment # 2 presentations and
REVIEW FOR TEST # 4
Week 16: : Assignment # 2 Class Presentations and IF TIME ALLOWS TEST # 4 OR DURNING
FINALS WEEK.
*Test 4 During the Final Exam period (Note: Test 4 is a test like the prior three tests. It is a non-cumulative test
meaning it does not include material from across the entire semester; only that from the Weeks 11-15