Real Estate

Real estate means land and what is built on it. Learn the main types and the people who work with them.

• Name the types: house, condo, rental, land, shop and office.
• Describe the roles: owner, buyer, tenant, agent, lawyer or notary, lender, inspector.
• Explain the difference between buying, renting and managing a property.
• List the words: deed or title, mortgage, deposit, closing, lease.
• Explain freehold, condo and rental in one sentence each.
• Identify who is paid for what in a sale: agent, lawyer or notary, inspector, lender.
• Compare buying and renting for one family using monthly cost and freedom to move.

Activity. Walk one street. Note five properties, their type and who might own or rent each.

Standard to meet. Task: name types and roles. Condition: from one real street. Standard: five properties and six roles correctly matched.

Prices and rents change by town and street. Learn to look at real listings before you decide anything.

• Compare ten listings: price, size, age, price per square metre.
• Describe what moves a local market: jobs, schools, transport, interest rates.
• Explain days on market and what a long time may mean.
• Check public sources for sold prices and rents; do not guess.
• Calculate price per square metre as price divided by area for each listing.
• Find the median of ten values by sorting them and averaging the middle two.
• Compare asking price with sold price for five sales from public sources and write the gap in percent.

Activity. Build a table of ten listings and mark the median price per square metre.

Standard to meet. Task: read a local market. Condition: ten real listings. Standard: median and range computed correctly with units.

Property law is mostly provincial. Licence, tax and contract rules differ, so check with the local authority each time.

• Explain that agents and brokers need a provincial licence; check the regulator in your province.
• Describe land transfer tax and title registration; check the current rule with the province or city.
• Apply the rules on disclosure: sellers must not hide known serious faults; check your province for what must be disclosed.
• Check tenant law: notice, deposits and rent increases are set by the province.
• Ask the provincial regulator what training and supervision a new agent needs and write the steps.
• Identify whether your province uses a lawyer or a notary to close a sale.
• Ask the regulator how deposit money must be held and who may hold it.

Activity. Build a rules table for buying, selling and renting in your province, with an official page for each row.

Standard to meet. Task: list property rules. Condition: official pages only. Standard: every row has the enforcer, the action and the date checked.

Value is what a careful buyer would pay. Use facts, not hopes.

• Apply the comparison method: find three recent sales of similar homes and adjust for size and condition.
• Compute income value for a rental: yearly rent minus yearly costs.
• Describe how an agent's opinion of value differs from a written appraisal, and check how your province regulates appraisers.
• Explain why a lender may ask for a written appraisal from a qualified appraiser instead of an agent's opinion.
• Calculate each adjustment with a stated reason, such as a bedroom or a newer roof.
• Compare income value with the asking price by dividing net yearly rent by the price.
• List repair items from an inspection report and estimate each from a local quote.

Activity. Value one real listing using three sold comparisons and write each adjustment with a reason.

Standard to meet. Task: estimate a value range. Condition: three recent sales. Standard: adjustments explained and a range, not one number, is given.

Most property deals depend on money. Count every cost before you promise anything.

• Compute monthly mortgage cost with a free calculator and test two interest rates.
• List buying costs: deposit, transfer tax, legal fees, inspection, moving, repairs.
• List owning costs: property tax, insurance, upkeep, utilities, condo fees.
• Evaluate a rental: rent minus all costs and a gap for empty months.
• Calculate the loan size as price minus deposit.
• Test how a one-point rise in the interest rate changes the monthly payment with a free calculator.
• Ask a lender how they test whether a buyer can still pay if rates rise, and write the answer.

Activity. Build a one-property cash sheet with a normal case and a bad case where rent drops 15%.

Standard to meet. Task: check if a property pays. Condition: all costs counted. Standard: normal and bad case shown and the decision explained.

A deal moves in steps. Keep a file and keep every promise in writing.

• Build a deal checklist: listing, viewing, offer, conditions, inspection, financing, closing.
• Explain what a condition in an offer is and why it has a date.
• Apply honest marketing: true photos, true size, no hidden faults.
• Track leads: contacts, viewings, offers, closings.
• Write a plain-word reply for a buyer who asks about a fault.
• Calculate the days from first call to closing for three practice deals.
• Keep a written record of every offer, counter-offer and date in the deal file.

Activity. Create a deal file template and run a pretend deal from first call to closing with a partner.

Standard to meet. Task: manage a deal file. Condition: a practice deal. Standard: every step is dated and every promise is written.

Good management keeps tenants, protects the building and keeps records clean.

• Write a lease in plain words: rent, date, deposit, rules, repairs; check your provincial form.
• Apply a repair process: report, urgent or not, fix, record the cost.
• Check fire and safety items: smoke alarms, exits, heating; follow local rules.
• Handle a late rent case: call, write, follow the provincial steps, never lock out a tenant.
• Calculate yearly repair cost by setting aside a share of rent; state the share as an assumption.
• Inspect a unit at move-in and move-out with photos and a signed list.
• Ask the province where tenant and owner disputes are filed and write the steps.

Activity. Build a monthly checklist for one rental and a repair log with five practice entries.

Standard to meet. Task: manage a rental month. Condition: practice file. Standard: rent, repairs and safety checks recorded and dated.

Now plan and run the work for real, under the rules and with supervision where the law needs it.

• Evaluate your path: licensed agent, property manager, investor, or builder helper.
• Run a 90-day pilot such as managing one unit or helping with five viewings under a licensed person.
• Create a 12-month plan with money, licences and learning goals.
• Lead with ethics: tell the truth, avoid conflict of interest, keep client money separate.
• Compare fees earned with practice costs after the pilot.
• Identify the licence or training steps for your chosen path from the official source.
• Write a conflict-of-interest rule: tell all parties in writing when you or a relative has an interest.

Activity. Run the pilot, write the review and present a 12-month plan to three people.

Standard to meet. Task: run a supervised practice pilot. Condition: 90 days. Standard: results compared with the stop rule and licence needs checked with the regulator.

L1: Built environment aware learner. You can define: name the main terms, people and rules of real Estate. Focus module: Know the real estate world (Understand, 6 h). Real estate means land and what is built on it. Learn the main types and the people who work with them. Key points: Name the types: house, condo, rental, land, shop and office. Describe the roles: owner, buyer, tenant, agent, lawyer or notary, lender, inspector. Explain the difference between buying, renting and managing a property. List the words: deed or title, mortgage, deposit, closing, lease. Explain freehold, condo and rental in one sentence each. Identify who is paid for what in a sale: agent, lawyer or notary, inspector, lender. Compare buying and renting for one family using monthly cost and freedom to move.

Speaker notes. Teach: open with the worked example. A family buys a condo. The buyer, the seller, two agents, a lender and a lawyer or notary all have a job. Each job is written next to the person, with a note on who pays whom. Then set the activity: Walk one street. Note five properties, their type and who might own or rent each. Mark against the standard: Task: name types and roles. Condition: from one real street. Standard: five properties and six roles correctly matched. Check at this level: Name three roles in a property sale. Model answer: Buyer, seller, agent, lender, lawyer or notary, inspector (any three). Level note: Start here if new. Evidence: a one-page glossary and a visit or interview note.

L2: Site or office assistant. You can describe: explain how real Estate works from first contact to result. Focus module: Read the local market (Apply, 6 h). Prices and rents change by town and street. Learn to look at real listings before you decide anything. Key points: Compare ten listings: price, size, age, price per square metre. Describe what moves a local market: jobs, schools, transport, interest rates. Explain days on market and what a long time may mean. Check public sources for sold prices and rents; do not guess. Calculate price per square metre as price divided by area for each listing. Find the median of ten values by sorting them and averaging the middle two. Compare asking price with sold price for five sales from public sources and write the gap in percent.

Speaker notes. Teach: open with the worked example. Ten condos list at these prices per square metre: 4,200, 4,500, 4,600, 4,800, 4,900, 5,000, 5,100, 5,300, 5,600 and 6,900. The median is (4,900 + 5,000) / 2 = 4,950. The 6,900 unit is about 39% above the median (6,900 / 4,950 = 1.39), so it needs a reason such as a new building or a view. Then set the activity: Build a table of ten listings and mark the median price per square metre. Mark against the standard: Task: read a local market. Condition: ten real listings. Standard: median and range computed correctly with units. Check at this level: What is price per square metre used for? Model answer: To compare properties of different sizes. Level note: Evidence: a flow chart and a two-minute spoken explanation.

L3: Tradesperson or coordinator. You can apply: carry out a routine task in real Estate to a written standard. Focus module: Follow the rules in Canada (Apply, 10 h). Property law is mostly provincial. Licence, tax and contract rules differ, so check with the local authority each time. Key points: Explain that agents and brokers need a provincial licence; check the regulator in your province. Describe land transfer tax and title registration; check the current rule with the province or city. Apply the rules on disclosure: sellers must not hide known serious faults; check your province for what must be disclosed. Check tenant law: notice, deposits and rent increases are set by the province. Ask the provincial regulator what training and supervision a new agent needs and write the steps. Identify whether your province uses a lawyer or a notary to close a sale. Ask the regulator how deposit money must be held and who may hold it.

Speaker notes. Teach: open with the worked example. Rules table row: Land transfer tax | province or city | pay at closing | before keys are handed over | receipt kept in the deal file. If closing is on day 60 and the receipt takes 3 days to arrive, plan to pay by day 57. Then set the activity: Build a rules table for buying, selling and renting in your province, with an official page for each row. Mark against the standard: Task: list property rules. Condition: official pages only. Standard: every row has the enforcer, the action and the date checked. Check at this level: Who makes most property laws in Canada? Model answer: The provinces; check your own province. Level note: Evidence: a supervised task record that meets the standard once.

L4: Supervisor or agent. You can analyse: diagnose why a real Estate result missed its target and fix it. Focus module: Value a property (Evaluate, 8 h). Value is what a careful buyer would pay. Use facts, not hopes. Key points: Apply the comparison method: find three recent sales of similar homes and adjust for size and condition. Compute income value for a rental: yearly rent minus yearly costs. Describe how an agent's opinion of value differs from a written appraisal, and check how your province regulates appraisers. Explain why a lender may ask for a written appraisal from a qualified appraiser instead of an agent's opinion. Calculate each adjustment with a stated reason, such as a bedroom or a newer roof. Compare income value with the asking price by dividing net yearly rent by the price. List repair items from an inspection report and estimate each from a local quote.

Speaker notes. Teach: open with the worked example. Three similar homes sold for 400, 410 and 425 thousand CAD, an average of 411.7 thousand. Yours has one fewer bedroom, so adjust down by 15 thousand to about 397 thousand, and write the reason beside the number. Teaching numbers only. Then set the activity: Value one real listing using three sold comparisons and write each adjustment with a reason. Mark against the standard: Task: estimate a value range. Condition: three recent sales. Standard: adjustments explained and a range, not one number, is given. Check at this level: How do you find the income value of a rental? Model answer: Yearly rent minus yearly costs. Level note: Evidence: a fault or gap analysis with a fix and a repeat test. This course targets this level.

L5: Project manager. You can evaluate: judge options for real Estate against cost, risk and quality. Focus module: Find clients and manage a deal (Create, 6 h). A deal moves in steps. Keep a file and keep every promise in writing. Key points: Build a deal checklist: listing, viewing, offer, conditions, inspection, financing, closing. Explain what a condition in an offer is and why it has a date. Apply honest marketing: true photos, true size, no hidden faults. Track leads: contacts, viewings, offers, closings. Write a plain-word reply for a buyer who asks about a fault. Calculate the days from first call to closing for three practice deals. Keep a written record of every offer, counter-offer and date in the deal file.

Speaker notes. Teach: open with the worked example. An offer has an inspection condition on day 7, a financing condition on day 10 and closing on day 45. If the lender says no on day 8, the buyer can step away under the financing condition; the inspection date has already passed. The lawyer or notary checks the wording. Then set the activity: Create a deal file template and run a pretend deal from first call to closing with a partner. Mark against the standard: Task: manage a deal file. Condition: a practice deal. Standard: every step is dated and every promise is written. Check at this level: What does a condition in an offer do? Model answer: It lets a party step away if a stated thing is not met by a stated date. Level note: Evidence: an options paper with numbers and a recommendation defended to a panel.

L6: Development manager. You can create: design and pilot a new offer or process in real Estate. Focus module: Manage a property well (Evaluate, 6 h). Good management keeps tenants, protects the building and keeps records clean. Key points: Write a lease in plain words: rent, date, deposit, rules, repairs; check your provincial form. Apply a repair process: report, urgent or not, fix, record the cost. Check fire and safety items: smoke alarms, exits, heating; follow local rules. Handle a late rent case: call, write, follow the provincial steps, never lock out a tenant. Calculate yearly repair cost by setting aside a share of rent; state the share as an assumption. Inspect a unit at move-in and move-out with photos and a signed list. Ask the province where tenant and owner disputes are filed and write the steps.

Speaker notes. Teach: open with the worked example. A water leak at night is urgent: the tenant calls, the owner sends a plumber, photos are taken, and the cost and date are recorded. A month of five repair-log entries costs 120 + 85 + 380 + 60 + 45 = 690. Then set the activity: Build a monthly checklist for one rental and a repair log with five practice entries. Mark against the standard: Task: manage a rental month. Condition: practice file. Standard: rent, repairs and safety checks recorded and dated. Check at this level (this question is covered in module 3: Follow the rules in Canada): What do you do with a known serious fault? Model answer: Disclose it; do not hide it. Level note: Evidence: a pilot with measured results over at least 30 days.

L7: Developer or company director. You can lead: run a team or business in real Estate and develop others. Focus module: Run a real estate practice (Create, 8 h). Now plan and run the work for real, under the rules and with supervision where the law needs it. Key points: Evaluate your path: licensed agent, property manager, investor, or builder helper. Run a 90-day pilot such as managing one unit or helping with five viewings under a licensed person. Create a 12-month plan with money, licences and learning goals. Lead with ethics: tell the truth, avoid conflict of interest, keep client money separate. Compare fees earned with practice costs after the pilot. Identify the licence or training steps for your chosen path from the official source. Write a conflict-of-interest rule: tell all parties in writing when you or a relative has an interest.

Speaker notes. Teach: open with the worked example. Stop rule: if after 90 days the practice cost is more than the fees earned, change the plan. Nine pilot jobs at 2,420 each earn 9 x 2,420 = 21,780; costs of 9 x 1,750 = 15,750 leave 6,030, so the plan continues. Result and decision are written with the numbers. Teaching numbers only. Then set the activity: Run the pilot, write the review and present a 12-month plan to three people. Mark against the standard: Task: run a supervised practice pilot. Condition: 90 days. Standard: results compared with the stop rule and licence needs checked with the regulator. Check at this level: What should you do if you are unsure of a rule? Model answer: Ask the regulator or a licensed adviser and keep the answer in writing. Level note: Evidence: a record of results over a year and of people you have coached to a higher level.