Personal Exploration Exercises

Real estate is a hands-on subject.  The purpose of the personal exploration (PE) exercises  is to help you experience first hand different aspects of the real estate industry. 

Sometime during the semester, you must choose and complete one of the PE options listed below.  In addition, you may do up to two extra PE exercises as extra credit to replace other assignment (homework or guest lecture write-up) scores.  The final due date for the PE exercises is Wednesday, April 25, although I strongly suggest you complete them earlier.  Late assignments will be penalized as outlined in the syllabus.   

All PE write-ups should be well-written and professional in appearance.  Although I ask that they be one- to two-pages in length, this is just a guideline.  You may make them as long as is necessary to fully described what you learned from the exercise.  

- MAPC zoning hearing
- CCIM leasing mall
- Mortgage foreclosure sale
- Attend a closing
- Shadow a professional
- Other activities

MAPC Zoning Hearing

Attend a meeting of the Wichita/Sedgwick County Metropolitan Area Planning Commission (MAPC) and report back on one zoning change request that was reviewed during the meeting. 

The MPAC meets on the following Thursdays at 1:30 p.m. in the 10th floor conference room in City Hall (455 N. Main):

  • January 19

  • February 2

  • February 16

  • March 1

  • March 15

  • April 5

  • April 19

The meetings often run until late in the afternoon, so feel free to attend even if you must be a bit late. 

Agendas for the upcoming meeting can be found online at the MAPC website, or you may pick one up when you arrive.  In addition, copies of the staff reports on the zoning cases will be available at the meeting

Note that the MAPC is responsible for many other issues beyond zoning, but at each meeting there should be at least one zoning change request that will be heard. 

Assignment

Stay for the full discussion of one zoning case.  Prepare a one- or two-page write-up of what occurred during the MAPC meeting regarding that case.  Your write-up should discuss the basic nature of the case, how many people chose to speak in favor and against the case, the issues discussed, and the final action of the MAPC.  Make sure you include a copy of the staff report with your write-up. 

Note:  If you are unable to attend the MAPC meeting on Thursdays, you may alternatively attend a meeting of the Board of Zoning Appeals, which meets on the fourth Tuesday of each month, or the Historic Preservation Board, which meets on the second Monday of every month.  The basic requirements of the assignment, however, remains the same.

CCIM Leasing Mall

The CCIM Leasing Mall will be held on Wednesday, February 15 from 8:30 a.m. until noon at the Wichita Area Association of Realtors building at 207 W. Dewey (downtown in Waterwalk).  The purpose of the leasing mall is to provide a forum for property owners and commercial real estate brokers to match businesses needing space with the buildings that are available.  More details can be found at http://chapters.ccim.com/kansas?action=show_eventDetail&eid=15197.

Assignment

Attend for 1.5 or 2 hours.  Take notes on what you observe and talk with one of the brokers that presented a property.  Then prepare a one- to two-page summary of what happened during the session.  In particular, discuss the details of any transactions that appear to have been facilitated by the leasing mall.   

Mortgage Foreclosure Sale

Mortgage foreclosure sales are conducted at 10:00 a.m. every Wednesday morning by the Sedgwick County Sheriff's office in the basement cafeteria of the Sedgwick County Courthouse (525 N. Main).  Note that you will have to pass through security to get into the courthouse.

For more information about foreclosure sales, see the FAQ posted on the Sedgwick County Sherriff's website. 

Assignment

Take notes on what you observe and then prepare a one- to two-page summary of what happened during the foreclosure sale.  In particular, see if you can figure out who the private investors are (as opposed to the lenders who are protecting their claims).  Discuss any interesting sales that occur.  As always, it is good to try and meet and talk with some of the professionals you see there. 

Attend a Closing

This PE assignment will require you to know someone who is completing a real estate or mortgage transaction before the semester ends.  Get their permission to accompany them to the actual closing. 

Assignment

Prepare a one- to two-page summary of what happened.  In particular, describe the nature of the transaction, who was present (was anyone there on behalf of the buyer of seller?), what types of documents were signed, etc. 

Shadow a Professional

If you know someone who works in the real estate industry, you may shadow this person for an afternoon. 

 Assignment

Prepare a one- to two-page description of what you learned from shadowing your professional.  Make sure you describe your professional's career and what you did during the day. 

Other Activities

If you have other real estate related activities that you may think would make a good PE exercise, I am happy to discuss them with you.  In order to receive credit, any alternate exercise must be approved by me in advance. 

 
Dr. Longhofer's home page.

Center for Real Estate home page.