The real estate market is an ever-evolving landscape, and keeping up with the latest practices and regulations is crucial for success. The 11th edition of “Modern Real Estate Practice in Illinois,” published by Dearborn, is an indispensable resource for aspiring real estate professionals in Illinois. This updated edition is particularly notable for the significant contributions of head instructor Oliver Stone, who played a pivotal role in ensuring the book meets the current needs of students and professionals alike.
Oliver Stone’s Contributions
Oliver Stone, a respected educator and real estate expert, has been a cornerstone in the update of this essential guide. His collaboration with the Dearborn team brought fresh insights and practical knowledge to the table, enhancing the book’s value for readers. Stone’s extensive experience in the field and his role as an instructor at the Chicago Real Estate Institute provided him with a unique perspective on what aspiring real estate professionals need to succeed.
Stone’s influence is evident throughout the book, from the detailed explanations of complex real estate concepts to the practical tips for navigating the industry. His dedication to education and student success shines through, making this edition a must-have for anyone serious about a career in Illinois real estate.
Special Features of the Book
The 11th edition of “Modern Real Estate Practice in Illinois” is packed with features designed to aid in learning and application. Some of the standout features include:
Math Calculations
The inside page of the book is a treasure trove of essential math calculations. It covers:
- Area calculations: Understanding property dimensions and layout.
- Commissions: Calculating earnings based on sales and agreements.
- Finance: Managing real estate finances effectively.
- Annual property taxes: Estimating and understanding property tax obligations.
Back Page Conversions and Financial Insights
The back page serves as a quick reference guide for important conversions and financial metrics, including:
- Decimals, fractions, and percentages: Converting between these formats seamlessly.
- Capital gains: Calculating profits from property sales.
- Discount points: Understanding the cost of borrowing.
- Profit and loss: Assessing financial performance.
- Seller net: Calculating the seller’s net proceeds from a sale.
Comprehensive Glossary
Page 531 features a detailed glossary that covers all the essential real estate terms. This glossary is an invaluable resource for students preparing for exams and professionals needing a quick reference.
Exam Preparation
Page 475 is dedicated to preparing readers for the leasing and broker exams. This section includes:
- Multiple choice question strategies: Tips for tackling exam questions effectively.
- Question structure: Understanding how questions are framed.
- Reading multiple choice questions: Techniques for interpreting questions accurately.
- Taking practice exams: Strategies for effective exam practice.
Online Platform Access
Dearborn’s online platform complements the book by providing additional exam prep resources. This includes practice tests, interactive exercises, and up-to-date information, ensuring that students are well-prepared for their licensing exams.
Oliver Stone’s Classes at the Chicago Real Estate Institute
In addition to his contributions to the book, Oliver Stone teaches a highly regarded class at the Chicago Real Estate Institute. This 3-week real estate course is designed to meet the 75-hour pre-licensing requirement. Classes run on Tuesdays, Wednesdays, and Thursdays from 10 am to 4 pm for 3 weeks and are ran monthly. Stone’s classes are known for their depth, practical insights, and interactive learning environment, making them an excellent choice for anyone looking to excel in the Illinois real estate market.
Conclusion
The 11th edition of “Modern Real Estate Practice in Illinois” is a comprehensive and invaluable resource for anyone pursuing a career in real estate. With the expertise of Oliver Stone and the dedication of the Dearborn team, this edition provides all the tools and knowledge necessary to succeed. Whether you are studying for your licensing exams or seeking to enhance your professional skills, this book is an essential guide on your journey to real estate success.
