Michigan Real Estate Academy Blog

Getting Ready for Real Estate 101? Here's Everything You Need to Know!

Angela McMillan

Posted by Angela McMillan
Oct 26, 2018 9:33:50 AM

Real Estate 101 is probably the first course you will take at the Michigan Real Estate Academy (MREA) and we know you have A LOT of questions. We've compiled answers to the most frequently asked questions from incoming students just like you, so you're sure to show up confident and prepared on the first day!

Click on a topic heading below or scroll down so you don't miss any of this important information. If you have a question that you do not see answered below, please send us an email.

What to Study

  • Pre-reading
  • Practice Quizzes
  • Study Groups
  • Study Tools

What to Wear

  • First. Impressions. Matter
  • Helpful Articles

What to Bring

  • Food and Beverages
  • Supplies 
  • Electronic Devices

What to Expect

  • Daily Agenda
  • Attendance Policy
  • Session Objectives
  • Practice Exam
  • Course Evaluations


What to Study


There is A LOT of material to cover in five days, so we HIGHLY RECOMMEND you pick up your course materials and read the material for Sessions 1 and 2 BEFORE your first day of class. Then, you are STRONGLY ENCOURAGED to read the material for the remaining sessions over the weekend. 

You should plan on a minimum of 45 minutes of reading per session. Also, be sure to make notes of any questions you have while doing your pre-reading so you can bring them to class to ask your instructor.

Regardless of how you schedule your reading time, we think that you will find you are better prepared for the final exam. 

Practice Quizzes

Each chapter includes a practice quiz at the end. Taking these is a great way to test your knowledge and determine if you are retaining what you've read in the chapter. Be sure to study the answers to the questions you miss on your practice quizzes!

Study Groups

Many students have found study groups to be beneficial when preparing for the exam. If you are interested, be sure to connect with your classmates. Not only will you be able to help each other study, you could also be making connections you'll be glad you have in your real estate career.

Study Tools

  • Flash Cards - Available for purchase at MREA
  • Practice Guide - Available for purchase at MREA
  • Textbook App
  • PSI App

What to Wear

First. Impressions. Matter.

There's a chance you'll do business with some of your classmates or even instructors at some point during your real estate career, so we encourage you to dress and carry yourself in a professional manner.

We suggest you choose comfortable, business or business casual attire. And, it's always a good idea to dress in layers so you have a jacket or sweater to put on if you get too cold or take off if you get too warm. 

Here are a few helpful articles:


What to Bring

Food and Beverages

Soda, coffee, and water are provided for you as part of your registration. Please bring any snacks you may want as these are not provided and there are no vending machines at the MREA.

You will have a lunch break each day from 12:00 pm to 1:00 pm.  A microwave and refrigerator are available for your use if you wish to bring your lunch. You are welcome to leave the building to pick up lunch as long as you return and are ready for instruction by 1:00 pm. See a list of area restaurants. 


A pen, binder, and paper are provided for you. All you will need to bring are your course materials/textbooks. 

Electronic Devices

Basic calculators are provided for sessions that cover real estate math (sessions 2, 7, and 8). Smartphones and scientific calculators are not permitted during math sessions.

Smartphones, tablets, and laptops are not needed for this course, and must be silenced and put away during instruction. These items may be used during breaks only.


What to Expect

This course consists of five full days (8:00 am - 5:00 pm) of instruction over a two-week period.

Sample Session Schedule

Session # Subject Day/Time Reading Assignment
1 Intro to the Real Estate Business,
Real Property and the Law, Interest in Real Estate
& Land Use Controls and Property Development
 Thursday 8:00 am Modern Real Estate Practice
Unit 1, 2, 3, 20
2 Transfer of Title, Forms of Real Estate Ownership,
Land Descriptions & Title Records
Thursday 1:00 pm  Modern Real Estate Practice
Unit 4, 5, 6, 7
3 Real Estate Taxes and Other Liens,
Closing the Real Estate Transaction
& Real Estate Appraisal
Friday 8:00 am    Modern Real Estate Practice
Unit 14, 15, 16
4 Real Estate Contracts, Leases
& Property Management
 Friday 1:00 pm Modern Real Estate Practice
Unit 11, 17, 19
5 Real Estate Agency, Real Estate Brokerage
& Client Representation Agreements
 Wednesday 8:00 am Modern Real Estate Practice
Unit 8, 9, 10
6 Michigan License Law and Departmental Rules Wednesday 1:00 pm  Law Book
Session 6
7 Real Estate Financing &
Government Involvement in Real Estate Financing
Thursday 8:00 am    Modern Real Estate Practice
Unit 12, 13
8 MI Specific Statutes,
Environmental Issues and The Real Estate Transaction
& Math FAQ’s
Thursday 1:00 pm  Michigan Real Estate Basics
Unit 21
Law Book
Session 8
9  Fair Housing Friday 8:00 am Modern Real Estate Practice
Unit 18
Law Book
Session 9
10 Practice Exam and Review Friday 1:00 pm  No Reading Assignments


Daily Agenda

8:00 am Morning session begins
8:10 am Sign-in sheet is collected*
12:00 pm Lunch
1:00 pm Afternoon session begins
1:10 pm Sign-in sheet is collected*
5:00 pm Afternoon session ends

Attendance Policy

The State of Michigan requires 40 full hours of course instruction to take the State Licensing Exam. *Sign-in sheets are collected at 8:10 am and 1:10 pm each day and those not present will be required to re-take the missed session within 12 months of their registration date.

Session Objectives

As you learn the foundation of your new career, you will cover A LOT of material, so be sure that you come prepared each day, well-rested, and ready to give your full attention to your instructors. Knowing these important concepts, terms, and legalities of the real estate business can directly impact your earning potential and even protect you from fines or legal issues in the future.

  • An Introduction to the Real Estate Business; Real Property & the Law; Interests in Real Estate
  • Transfer of Title; Forms of Ownership; Legal Descriptions; Title Records
  • Real Estate Contracts; Leases; Property Management
  • Land Use Controls & Property Development; Concepts of Home Ownership; Real Estate Taxes; Other
  • Liens; Closing the Transaction; Real Estate Appraisal
  • Agency; Real Estate Brokerage; Listing Agreements; Buyer Representation
  • Michigan License Law & Departmental Rules
  • Fair Housing
  • Financing Principles & Practice; Usury Laws; Land Contracts
  • Michigan Specific Statutes; Environmental Issues & The Real Estate Transaction; Math FAQ’s


The Practice Exam

The practice exam is given immediately after Session 9 on the final day of the course. This exam is designed to directly prepare you for taking the State Licensing Exam, therefore it is proctored in the same exact manner:

  • Electronic
  • Closed Book
  • Timed

You will also find out your score immediately after completing your exam. A score of 70% or higher is considered passing, but is not required. This session concludes at 4:30 p.m.

Retake Exams

Students who are not satisfied with their score on the practice exam may retake their exam on specific days and times scheduled by the MREA. TIP! All students, even those who pass their initial practice exam are encouraged to take as many retake exams as are available; as prior students report that their score increased each time they took a practice exam. 

Course Evaluations

At the end of your course, you will be asked to fill out an evaluation. Please take time to provide honest feedback about your experience. The MREA uses these evaluations to shape future courses and educational offerings. We thank you in advance for your feedback!

Sign Up Today!

If you haven't signed up for Real Estate 101 yet, there's no better time than right now. Courses are offered monthly so you're sure to find one that will work for your schedule. Learn more today!


About This Blog

The Michigan Real Estate Academy Blog is your destination for real estate education information, Continuing Education updates, and much more.

If you have an idea for a blog post or have a question, email us.

Subscribe to GKAR Blog

Recent Posts