1 land 101: fundamentals of land brokerage brought to you by the realtors® land institute

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Land 101: Fundamentals of Land

Brokerage

Brought to you by the REALTORS® Land Institute

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About the REALTORS® Land Institute (RLI)

• An affiliate of the National Association of REALTORS® (NAR)

• Founded in 1944• Dedicated to improving the

professional competence of its members in land brokerage.

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About RLI (cont.)

Focuses on land brokerage transactions of five types:

1. Farms and ranches2. Undeveloped tracts of land3. Transitional and development land4. Subdivision and wholesaling of lots5. Site selection and assemblage of land

parcels

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Membership Benefits

• A listing in RLI’s online “Find a Land Consultant” directory

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Membership Benefits (cont.)

• A subscription to Terra Firma

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Membership Benefits (cont.)

• Specialized education • Access to a national network of other

land professionals • Online resources, including tools and

tips on technology and marketing developments

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ALC DesignationCandidacy

Members become candidates after successfully completing their first RLI course

Knowledge Requirements120 creditsRequired courses: Land 101, Land Investment Analysis, and one tax courseLand University courses over 2 days in length = 20 credits each

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ALC Designation (cont.)Experience Requirements

$5,000,000 in land transactions or 25 land transactions within 5 yrs of application date

ALC Application

Submit all documentation and processing fee

ALC Designation

Awarded by the RLI B.O.D.

ALC designees must maintain membership in RLI and NAR

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RLI Courses

• Land 101• Land Investment Analysis• Tax Implications of Real Estate• Tax Deferred (1031) Exchanges• Agricultural Land Brokerage and

Marketing• Creative Land Planning for Profit• Land Development• Site Selection• Transitional Land• Practical Navigation for Land

Professionals

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Objectives for Land 101

• Discuss different land types.• Describe the Farm Service Agency

(FSA) and its activities.• Discuss current agricultural land

trends.• Identify the different types of urban

land development.• Describe site selection factors for

urban land development.• Define highest and best use.

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Objectives (cont.)

• Explain the three land description methods.

• Discuss maps used in land brokerage and explain how to read them.

• Identify the factors that influence land values.

• Recognize the different appraisal methods.

• Understand the tax issues involved in land brokerage.

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Objectives (cont.)

• Identify property rights and restrictions.• Describe environmental factors that

affect land brokerage.• Understand wetlands and brownfields

issues.• Explain conservation easements.• Identify key legislative, regulatory and

land rights issues.• Explain rent theory.• List methods to package a property.• Understand the ramifications of a land

contract.