Portland Community College | Portland, Oregon

1. Legal Foundations of Property Ownership
1.1 Analyze the legal distinctions between real and personal property and apply recognized methods of
legal property description.
1.2 Evaluate forms of ownership, including sole ownership, co-ownership, common-interest communities,
trusts, estates, and business entities, and assess their legal implications.
1.3 Assess the impact of encumbrances, liens, easements, and title defects on property rights, value, and
transferability.
1.4 Interpret governmental and private land use controls affecting real property.
2. Valuation and Market Analysis
2.1 Explain the appraisal process and distinguish licensed appraisal activity from brokerage valuation
activities.
2.2 Apply the sales comparison, cost, and income approaches to real property valuation in appropriate
contexts.
2.3 ɳ°ÍÌåÓý¹ÙÍø and defend a Comparative Market Analysis (CMA) consistent with professional standards
and regulatory limitations.
3. Financing and Lending Compliance
3.1 Compare conventional, government-backed, and alternative financing products and their underwriting
criteria.
3.2 Interpret federal lending laws and regulations, including RESPA, TILA/Regulation Z, TRID, and ECOA,
and evaluate their application to brokerage practice.
3.3 Perform real estate finance calculations, including loan-to-value ratios, PITI payments, amortization
concepts, and cost-of-financing analysis.
4. Contracts and Agency
4.1 Apply general principles of contract law to real estate purchase agreements, lease agreements, and
related addenda.
4.2 Analyze the elements of valid contracts, enforceability standards, and remedies for breach.
4.3 Evaluate agency relationships, fiduciary duties, disclosure requirements, and lawful brokerage
relationships under Oregon law.
4.4 Demonstrate appropriate handling of offers, counteroffers, electronic transactions, and multiple-offer
scenarios in compliance with regulatory requirements.
5. Disclosure and Risk Management
5.1 Identify required federal and Oregon property disclosures, including environmental and material defect
disclosures.
5.2 Evaluate risk management practices related to inspections, land use restrictions, and title matters.
5.3 Apply due diligence standards to protect clients and the public in real estate transactions.
6. Property Management and Trust Account Administration
6.1 Explain the legal duties and responsibilities of property managers under Oregon law.
6.2 Apply landlord-tenant regulations, fair housing requirements, and ADA obligations to property
management practice.
6.3 Demonstrate knowledge of trust account establishment, reconciliation, recordkeeping, and handling
of client funds in compliance with Oregon Real Estate Agency rules.
7. Title Transfer and Closing Procedures
7.1 Differentiate types of deeds and evaluate their legal implications.
7.2 Explain the title search and title insurance process and identify potential title defects and resolutions.
7.3 Describe settlement procedures, recordation requirements, and special considerations in
foreclosures, short sales, and probate transactions.
8. Regulatory Compliance and Professional Practice
8.1 Apply federal and state fair housing laws and anti-discrimination statutes to brokerage operations and
advertising practices.
8.2 Interpret Oregon licensing requirements, disciplinary standards, and regulatory oversight provisions.
8.3 Demonstrate compliance with document handling, record retention, and advertising regulations.
9. Supervisory Responsibilities (Principal Broker Competency)
9.1 Analyze the statutory and regulatory supervisory responsibilities of a Principal Broker.
9.2 ɳ°ÍÌåÓý¹ÙÍø policies and procedures for oversight of licensees, teams, and unlicensed assistants.
9.3 Evaluate brokerage risk exposure and implement compliance systems consistent with Oregon Real
Estate Agency standards.
All assessments are aligned with Oregon Real Estate Agency (OREA) Principal Broker examination
content areas and clock-hour requirements.