Course Syllabus

Course objectives
Required text and materials
Prerequisites
Grading
Contacting me
Plagiarism and academic honesty
ADA statement
Course schedule and lecture notes


Course Objectives

Although the first image that may come to mind when I mention “real estate” is the broker who helps you sell your house, in fact real estate deals with nearly every aspect of the land and buildings in which we work and live.  In this class you will learn about how the key economic and legal characteristics of real estate interact with your business and personal affairs on a daily basis.  This knowledge will serve you well regardless of your ultimate career goals.  Even more, I hope you’ll discover how exciting and fun real estate can be. 


Required Text and Materials

Floyd, Charles F. and Marcus T. Allen.  Real Estate Principles, 9th edition.  Dearborn Real Estate Education, 2008. 

Although most of the “book-knowledge” you will need for this course can be found in this text, my goal is to provide you with a much more “hands-on” learning experience. As such, I may also assign articles from popular newspapers and magazines as we discuss different real estate topics (you will often be able to find links to these on the official Blackboard site for this class). In addition, I encourage you to bring your own real estate questions to class for us to discuss. These questions may be inspired by articles you have read or by your own personal experiences.

You will also need a good financial calculator for this course. I recommend the TI BA II Plus, because I use it to work examples in class and it will do anything you’ll need for any of your other business courses. But any good financial calculator that can calculate NPVs and IRRs with irregular cash flows will be fine. Learn how to use your calculator!!! During the exams, you should not expect me to show you how to use it or adjust its settings.


Prerequisites

Junior standing or instructor approval.  This is an upper-division course, and I expect each of you to take responsibility for your own learning.  A great deal of study material is available on the class web site.  If you work through that material diligently, you will do well in the course.


Grading

Grades for this course will be calculated using the following weights:

Three exams 20% each
Homework assignments, cases and write-ups 30%
Personal exploration assignment 10%

The format for the exams will be multiple choice, true-false, and short answer/essay questions.  I have posted practice exams and homework assignments up on the class web site and you are welcome to use these as study aids. 

The personal exploration (PE) assignment allows you to choose from several different "field trips" related to real estate and then write up a brief summary of what you learned from the event.  One of these PE assignments is required during the semester.  You may do additional PE assignments to replace up to two of your lowest homework scores. 

Late assignments will be penalized as follows:  Assignments turned in by the following class period will be assessed a 10 percentage point penalty.  This penalty increases by 10 percentage points each weekday thereafter.  Thus, a homework assignment that was due on Monday and is turned in to my office by the following Friday will have its score reduced by 30 percentage points.  Recognizing that emergencies can arise, I will allow you to drop your lowest two assignment (homework, case study or write-up) scores during the semester.  In addition, you may do extra PE assignments to replace up to two additional assignment scores.

I do assign plus/minus grades.  I use 92 as the cutoff for an "A", 90 for an "A-", 88 for a "B+", 82 for a "B", etc.  The cutoff point always earns the higher grade.


Contacting Me

I encourage you to contact me at any time if you have questions or concerns about any aspect of this course.  I am also happy to answer questions about homework assignments as well, although you should first attempt to resolve any questions through discussions with your classmates. 

I do not hold regular “office hours,” as such.  Instead, you may feel free to stop by my office any time.  Although I do not promise that I will be able to speak with you immediately, I am generally able to do so.  In any event, your best bet is to call first and make an appointment; that way, you can be certain I’ll be available and able to devote my full attention to you.

The best way to reach me, however, is via e-mail (stan.longhofer@wichita.edu).  In addition, I will often conduct class correspondence using your official WSU e-mail addresses.  Thus, each of you should configure your WSU account so that you can access your e-mail several times a week, preferably daily.  You can do this on MyWSU, where I also encourage you to update your official phone listing so that I can reach by phone if necessary.

I will usually respond to my e-mail immediately when I am in the office, and within a day in any event (unless I am out of town).  Finally, you may always send me anonymous comments using the course feedback form on the class web site.

You are responsible for any material I distribute to the class via e-mail or on the class web site.

I will post grades on the website on an ongoing basis.  On the first assignment of the semester, please provide me with a nickname known only to you; I will use this in place of your name on the public version of my grade sheet that I will post on the website. 


Plagiarism and Academic Honesty

It should not come as a surprise to you that I expect each of you to do your own work.  I will prosecute violations of academic honesty vigorously.  Anyone caught cheating or turning in work that is not his or her own will be subject to punishment ranging from a zero on the exam/assignment to failing the course to expulsion from the University.  Expect a severe punishment if I catch you cheating in this class. 

NOTE WELL:  You may NOT use cell phones or personal digital assistants during quizzes and exams.  I understand that these devices often have good financial calculator emulators.  Nevertheless their potential for misuse is great.  Any student caught using a cell phone, personal digital assistant or similar device during an exam or quiz will automatically receive a zero on that exam/quiz. 


University ADA Statement

If you have a physical, psychiatric/emotional, or learning disability that may impact on your ability to carry out assigned course work, I encourage you to contact the Office of Disability Services (DS). The office is located in Grace Wilkie Annex, 978-3309 (voice/tty). DS will review your concerns and determine, with you, what academic accommodations are necessary and appropriate for you. All information and documentation of your disability is confidential and will not be released by DS without your written permission.


Schedule and Lecture Notes

See the schedule section of the website. 

 

Dr. Longhofer's home page.

Center for Real Estate home page.