Requirements to Complete Your Course: In order to receive credit for your course, you MUST
complete the following steps in the order below.
CA DRE Rules: A student may enroll in any number of courses with the following guidelines:
1. Schools may not offer a single correspondence course that is to be completed* in less
than 2½ weeks. This rule applies regardless of the number of schools
the student is taking courses from.
2. No more than two courses may be completed* in a five-week period.
3. The school is allowed to issue a completion certificate(s) or transcript(s) upon
successful completion of a course(s) within the time frames listed below.
Number of Courses Min. Completion Time*
1: 2½ weeks
2: 5 weeks
4: 10 weeks
6: 15 weeks
8: 20 weeks
Our courses have an 18 day delay between allowing access each exam in order to meet the CA DRE
requirement. The time from the date the student receives course material to the date the final exam is
successfully passed. The date the final exam is taken, is not necessarily the date the exam is graded.
Review the Textbook/Ebook: In order to be prepared to pass the final examination, you should carefully
read and review the textbooks/E-book that you purchased.
Receive a passing grade on your final exam: All prelicense courses require a final exam. All exams are
multiple choice exams. If your exam is online, you may access it by clicking the exam link on your
dashboard page. If your exam is proctored, you must contact your school administrator to schedule an
exam. To find out more information about your state’s course final exam, see the information below.
, 9e MCKENZIE
California BRADY
ESTES C
REAL ESTATE PRINCIPLES R
California
P
Considered the first choice in California for individuals OTHER VALUABLE FEATURES INCLUDE:
searching for a reliable source to prepare for a rewarding career
• Online Study Tools. WebTutor™ interactive quizzing and
in the real estate profession, this text is comprehensive and
flashcards are available online to reinforce key terms and
substantive – yet very accessible and user friendly.
help you master material more efficiently.
Continuing the legacy of this popular text, authors Brady and
• Current Forms & Contracts. The latest real estate forms
Estes have fully updated and re-energized the content to
and contracts for California like the updated Residential
REAL ESTATE PRINCIP
accurately represent modern real estate practice in California.
Purchase Agreement are included.
Coverage of the SAFE Act and its impact on mortgage brokers
has been added along with current information on homestead
• Detailed Examples. Walk-thru examples help users
laws, buyer’s agency, senior community exceptions to fair
understand difficult real estate topics or situations.
housing laws, and much more.
• Comprehensive Glossary. Users appreciate this valuable
Each chapter includes practical applications and 20-question
resource with complete definitions.
review exams to ensure mastery. The 150-question practice
exam is similar in format and content to the actual salesperson
• Instructor Resources. In addition to full WebTutor™ and
exam with answers and chapter references, along with
ExamView® support, adopters have access to mid-term and
test-taking hints.
final exams, chapter lecture outlines, and PowerPoint® slides.
Other California Real Estate Resources
California Real Estate License Prep, 13e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-324-56060-5
California Real Estate Exam Prep Guide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-324-64497-3
California Real Estate Practice, 2e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-538-74055-8
California Real Estate Finance, 9e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-538-79832-7
California Real Estate Law, 8e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-538-73613-5
, California
Real Estate
Principles
NINTH EDITION
Dennis J. McKenzie
Mary Ellen Brady
Cerritos College
Edwin Estes, Jr.
Mt. San Antonio College
Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States
, California Real Estate Principles, © 2011, 2007 Cengage Learning
Ninth Edition
ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
Dennis J. McKenzie, Mary Ellen Brady, may be reproduced, transmitted, stored, or used in any form or by any means
and Edwin Estes graphic, electronic, or mechanical, including but not limited to photocopying,
recording, scanning, digitizing, taping, web distribution, information networks,
Vice President/Editorial Director: Dave Shaut
or information storage and retrieval systems, except as permitted under
Acquisitions Editor: Sara Glassmeyer Section 107 or 108 of the 1976 United States Copyright Act, without the prior
Developmental Editor: Arlin Kauffman written permission of the publisher.
Sr. Marketing and Sales Manager: Mark Linton
Sr. Content Project Manager: Holly Henjum For product information and technology assistance, contact us at
Cengage Learning Customer & Sales Support, 1-800-354-9706
Sr. Frontlist Buyer, Manufacturing: Charlene
Taylor For permission to use material from this text or product,
submit all requests online at www.cengage.com/permissions
Production Technology Analyst: Starratt Further permissions questions can be emailed to
Scheetz
Sr. Art Director: Pam Galbreath
Production Service: PreMediaGlobal ExamView® is a registered trademark of eInstruction Corp. Windows is a
Text Designer: Patti Hudepohl registered trademark of the Microsoft Corporation used herein under
license. Macintosh and Power Macintosh are registered trademarks of
Cover Designer: Jeff Bane, CMB Design
Apple Computer, Inc. used herein under license.
Partners
Cover Images: top: © Sklep Spozywczy/ © 2011 Cengage Learning. All Rights Reserved.
shutterstock; middle: © Dwights/
Cengage Learning WebTutor™ is a trademark of Cengage Learning.
Dreamstime.com; bottom: © Chris Rodenberg
Photography/shutterstock
Library of Congress Control Number: 2010930164
ISBN-13: 978-0-538-73965-8
ISBN-10: 0-538-73965-7
Cengage Learning
5191 Natorp Boulevard
Mason, OH 45040
USA
Cengage Learning products are represented in Canada by Nelson
Education, Ltd.
For your course and learning solutions, visit www.cengage.com Purchase
any of our products at your local college store or at our preferred online
store www.cengagebrain.com
Printed in the United States of America
1 2 3 4 5 6 7 14 13 12 11 10
complete the following steps in the order below.
CA DRE Rules: A student may enroll in any number of courses with the following guidelines:
1. Schools may not offer a single correspondence course that is to be completed* in less
than 2½ weeks. This rule applies regardless of the number of schools
the student is taking courses from.
2. No more than two courses may be completed* in a five-week period.
3. The school is allowed to issue a completion certificate(s) or transcript(s) upon
successful completion of a course(s) within the time frames listed below.
Number of Courses Min. Completion Time*
1: 2½ weeks
2: 5 weeks
4: 10 weeks
6: 15 weeks
8: 20 weeks
Our courses have an 18 day delay between allowing access each exam in order to meet the CA DRE
requirement. The time from the date the student receives course material to the date the final exam is
successfully passed. The date the final exam is taken, is not necessarily the date the exam is graded.
Review the Textbook/Ebook: In order to be prepared to pass the final examination, you should carefully
read and review the textbooks/E-book that you purchased.
Receive a passing grade on your final exam: All prelicense courses require a final exam. All exams are
multiple choice exams. If your exam is online, you may access it by clicking the exam link on your
dashboard page. If your exam is proctored, you must contact your school administrator to schedule an
exam. To find out more information about your state’s course final exam, see the information below.
, 9e MCKENZIE
California BRADY
ESTES C
REAL ESTATE PRINCIPLES R
California
P
Considered the first choice in California for individuals OTHER VALUABLE FEATURES INCLUDE:
searching for a reliable source to prepare for a rewarding career
• Online Study Tools. WebTutor™ interactive quizzing and
in the real estate profession, this text is comprehensive and
flashcards are available online to reinforce key terms and
substantive – yet very accessible and user friendly.
help you master material more efficiently.
Continuing the legacy of this popular text, authors Brady and
• Current Forms & Contracts. The latest real estate forms
Estes have fully updated and re-energized the content to
and contracts for California like the updated Residential
REAL ESTATE PRINCIP
accurately represent modern real estate practice in California.
Purchase Agreement are included.
Coverage of the SAFE Act and its impact on mortgage brokers
has been added along with current information on homestead
• Detailed Examples. Walk-thru examples help users
laws, buyer’s agency, senior community exceptions to fair
understand difficult real estate topics or situations.
housing laws, and much more.
• Comprehensive Glossary. Users appreciate this valuable
Each chapter includes practical applications and 20-question
resource with complete definitions.
review exams to ensure mastery. The 150-question practice
exam is similar in format and content to the actual salesperson
• Instructor Resources. In addition to full WebTutor™ and
exam with answers and chapter references, along with
ExamView® support, adopters have access to mid-term and
test-taking hints.
final exams, chapter lecture outlines, and PowerPoint® slides.
Other California Real Estate Resources
California Real Estate License Prep, 13e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-324-56060-5
California Real Estate Exam Prep Guide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-324-64497-3
California Real Estate Practice, 2e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-538-74055-8
California Real Estate Finance, 9e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-538-79832-7
California Real Estate Law, 8e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0-538-73613-5
, California
Real Estate
Principles
NINTH EDITION
Dennis J. McKenzie
Mary Ellen Brady
Cerritos College
Edwin Estes, Jr.
Mt. San Antonio College
Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States
, California Real Estate Principles, © 2011, 2007 Cengage Learning
Ninth Edition
ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
Dennis J. McKenzie, Mary Ellen Brady, may be reproduced, transmitted, stored, or used in any form or by any means
and Edwin Estes graphic, electronic, or mechanical, including but not limited to photocopying,
recording, scanning, digitizing, taping, web distribution, information networks,
Vice President/Editorial Director: Dave Shaut
or information storage and retrieval systems, except as permitted under
Acquisitions Editor: Sara Glassmeyer Section 107 or 108 of the 1976 United States Copyright Act, without the prior
Developmental Editor: Arlin Kauffman written permission of the publisher.
Sr. Marketing and Sales Manager: Mark Linton
Sr. Content Project Manager: Holly Henjum For product information and technology assistance, contact us at
Cengage Learning Customer & Sales Support, 1-800-354-9706
Sr. Frontlist Buyer, Manufacturing: Charlene
Taylor For permission to use material from this text or product,
submit all requests online at www.cengage.com/permissions
Production Technology Analyst: Starratt Further permissions questions can be emailed to
Scheetz
Sr. Art Director: Pam Galbreath
Production Service: PreMediaGlobal ExamView® is a registered trademark of eInstruction Corp. Windows is a
Text Designer: Patti Hudepohl registered trademark of the Microsoft Corporation used herein under
license. Macintosh and Power Macintosh are registered trademarks of
Cover Designer: Jeff Bane, CMB Design
Apple Computer, Inc. used herein under license.
Partners
Cover Images: top: © Sklep Spozywczy/ © 2011 Cengage Learning. All Rights Reserved.
shutterstock; middle: © Dwights/
Cengage Learning WebTutor™ is a trademark of Cengage Learning.
Dreamstime.com; bottom: © Chris Rodenberg
Photography/shutterstock
Library of Congress Control Number: 2010930164
ISBN-13: 978-0-538-73965-8
ISBN-10: 0-538-73965-7
Cengage Learning
5191 Natorp Boulevard
Mason, OH 45040
USA
Cengage Learning products are represented in Canada by Nelson
Education, Ltd.
For your course and learning solutions, visit www.cengage.com Purchase
any of our products at your local college store or at our preferred online
store www.cengagebrain.com
Printed in the United States of America
1 2 3 4 5 6 7 14 13 12 11 10
