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Real Estate

What is 'Real Estate (REES)'?

Real estate agents help clients buy, sell or lease land or property. They represent property owners when they sell their homes or land. These agents inspect properties before they agree to sell them. To determine a property's market price, agents compare the property with similar properties that have been sold recently. They may make suggestions to property owners about improvements they can make to increase the value of their property.

Property managers take care of the daily operation of properties. Some find, buy and develop property. They may manage office buildings, apartments, retail and industrial properties, or condos.

Is it for you?

Real estate brokers and sales agents have a thorough knowledge of the real estate market in their communities. They know which neighborhoods will best fit clients' needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Agents and brokers also act as intermediaries in price negotiations between buyers and sellers.

When selling property, brokers and agents arrange for title searches to verify ownership and for meetings between buyers and sellers during which they agree to the details of the transactions and in a final meeting, the new owners take possession of the property. They also may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale. In some cases, brokers and agents assume primary responsibility for closing sales; in others, lawyers or lenders do.

Jobs and Salary expectations

Real Estate Sales Agents

Location Pay Period 10% * Medium    90% **
Nebraska Hourly $10.17 $19.29 $36.70
Yearly $21,140 $40,130 $76,340
Central Hourly $6.02 $11.94 $17.33
Yearly $12,520 $24,830 $36,040
Northeast Hourly $7.21 $15.13 $28.96
Yearly $14,990 $31,460 $60,250
Omaha Hourly $11.00 $20.69 $42.70
Yearly $22,890 $43,040 $88,810
Panhandle Hourly $12.84 $19.65 $24.02
Yearly $26,700 $40,870 $49,960
United States Hourly $10.06 $19.52 $51.34
Yearly $20,930 $40,600 $106,790

*10 percent of the employees earn this salary.

**90 percent of the employees earn this salary.

For additional income information, see necis.intocareers.org.

Program Description

Metropolitan Community College does not offer a degree option in Real Estate. To receive a real estate salesperson's license, the applicant must be at least 19 years old, a high school graduate (or the holder of a GED certificate) and successfully complete a real estate exam. To sit for the exam, the applicant must furnish proof of successful completion of 60 classroom hours of real estate instruction. At MCC, this means completing Principles of Real Estate plus one additional real estate course of the student's choosing.

State licensing requirements are subject to change at the discretion of the Nebraska Real Estate Commission.

For current information about becoming a licensed real estate salesperson, including information about sitting for the real estate licensing exam, contact: Nebraska Real Estate Commission, 301 Centennial Mall South, P.O. Box 94667, Lincoln, NE 68509, 402-471-2004 or visit their website: nrec.state.ne.us.

course descriptions

The College does not offer a degree in Real Estate. The following classes are offered on a regular basis.

REES 1000 Real Estate Principles - covers real property rights, real estate transactions, property ownership, real estate financing, appraisal, brokerage, legal instruments, real estate markets, planning and regulation

REES 1100 Real Estate Law - Prior completion of REES 1000 is beneficial but not required -familiarizes students with the role of agent in the relationship between the broker and the client, as well as basic Nebraska Real Estate Act as it applies to ownership, conveyance and rights in real property

REES 2100 Real Estate Finance - Prerequisite(1): REES 1000 or licensure - covers various methods of financing real property and the financial institutions that provide the funds for financing residential, commercial and income properties

REES 2110 Building & Property Management - Prerequisite(1): REES 1000 or licensure - focuses on the management of income-producing real property, leases, contracts, merchandising, tenant selection, relations with owners and tenants, collections, maintenance, accounting, ethics and legal and professional relationships.

REES 2120 Real Estate Sales and Brokerage - Prerequisite(1): REES 1000 or licensure - introduces students to operational functions of the real estate license.

REES 2130 Real Estate Appraisal - Prerequisite(1): REES 1000 or licensure - analyzes forces that create, maintain and destroy real property values
REES 2200 Real Estate Investments - Prerequisite (1): REES 10000 or licensure - explores the risk analysis tools and techniques that can be used to determine the productivity of residential and commercial real estate.

 

PROGRAM FACULTY

All courses offered in Real Estate are taught by adjunct faculty.

Larry Buland, 531-MCC-2668
Rita Kleeman, 531-MCC-1361
Lori Lothringer, 531-MCC-3830

Credit Classes and Registration