Real estate
Real Estate challenges members to demonstrate their understanding of the real estate industry through an objective test. Members are assessed on key concepts such as property law, real estate finance, market analysis, sales strategies, and ethical practices. This event encourages exploration of the skills and knowledge needed to navigate the real estate sector successfully.
Event Overview
Division: High School
Event Type: Individual
Event Category: Objective Test, 100-multiple choice questions (breakdown of question by competencies below)
Objective Test Time: 50 minutes
Career Cluster Framework Connection: Financial Services
NACE Competency Alignment: Career & Self-Development, Communication, Critical Thinking
Items Competitor Must Provide: Sharpened pencil, Photo Identification, Conference-provided nametag, Attire that meets the Florida FBLA Dress Code
Objective Test Competencies
· Real Estate Fundamentals
· Laws and Regulations
· Real Estate Transactions and Finance
· Ethics
· Agency
Test questions are based on the knowledge areas and objectives outlined for this event. Detailed objectives can be found in the study guide included in these guidelines.
District
Check with your District leadership for District-specific competition information.
State
Eligibility
· FBLA membership dues are paid by 11:59 pm Eastern Time on December 1 (or earlier date specified by District Director) of the current program year.
· Members may compete in an event at the State Leadership Conference (SLC) more than once if they have not previously placed in the top 10 of that event at the National Leadership Conference (NLC). If a member places in the top 10 of an event at the NLC, they are no longer eligible to compete in that event.
· Members must be registered for the SLC and pay the state conference registration fee in order to participate in competitive events.
· Members must stay within the official FBLA housing block of the official FBLA hotel to be eligible to compete.
· Each district may be represented by participant(s) based on the Florida FBLA scaled quota system found on the Florida FBLA website.
· Each member can only compete in one individual/team event and one chapter event (Community Service Project, Local Chapter Annual Business Report).
· Identification: Competitors must present valid photo identification (physical) that matches the name on their conference name badge. Acceptable forms include a driver’s license, passport, state-issued ID, or school ID
· If competitors are late for an objective test, they may be either disqualified or permitted to begin late with no extension of the time as scheduled.
· Participants must adhere to the Florida FBLA dress code established by the Florida Board of Directors or they will not be permitted to participate in the competitive event.
Recognition
· The number of competitors will determine the number of winners. The maximum number of winners for each competitive event is 5.
Event Administration
· This event is an objective test administered at the SLC.
· No reference or study materials may be brought to the testing site.
· No calculators may be brought into the testing site.
Scoring
· Ties are broken by comparing the correct number of answers to the last 10 questions on the test. If a tie remains, answers to the last 20 questions on the test will be reviewed to determine the winner. If a tie remains, the competitor who completed the test in a shorter amount of time will place higher.
· Results announced at the State Leadership Conference are considered official and will not be changed after the conclusion of the State Leadership Conference.
Americans with Disabilities Act (ADA)
· FBLA complies with the Americans with Disabilities Act (ADA) by providing reasonable accommodations for competitors. Accommodation requests must be submitted through the conference registration system by the official registration deadline. All requests will be reviewed, and additional documentation may be required to determine eligibility and appropriate support.
Penalty Points
· Competitors may be disqualified if they violate the Competitive Event Guidelines or the Honor Code.
Electronic Devices
· Unless approved as part of a documented accommodation, all cell phones, smartwatches, electronic devices, and headphones must be turned off and stored away before the competition begins. Visible devices during the event will be considered a violation of the FBLA Honor Code.
National
If you are competing at the National level, be sure to see the National guidelines at https://www.fbla.org/divisions/fbla/fbla-competitive-events/
Study Guide: Competencies and Tasks
This study guide shows the skills and knowledge you’ll be tested on for this event. Objectives followed by a two-letter, three-digit code in parentheses are based on the National Business Administration Standards from MBA Research and Curriculum Center. Some objectives also reference MBA Research's Learning Activity Packages (LAPs)—resources with readings, activities, and assessments to help you learn. For more information, visit MBAResearch.org/FBLA.
Real Estate Fundamentals (30 test items)
1. Distinguish between real and personal property
2. Distinguish among real estate agents, brokers, and realtors
3. Discuss the benefits of membership in a real estate organization such as the National Association of Realtors (NAR)
4. Describe careers in real estate (e.g., property managers, leasing agents, mortgage bankers)
5. Describe residential and commercial real estate niches (e.g., office space, single family home, industrial, land)
6. Define basic real estate terminology (e.g., appurtenances, liens, hereditaments)
7. Describe the nature of land use
8. Describe the real estate licensing process
9. Explain the real estate valuation process (FI:517) (SP)
10. Describe the role and responsibilities of real estate appraisers (PD:246) (SP)
11. Explain the role and responsibilities of real estate entrepreneurs (PD:248) (SP)
Laws and Regulations (25 test items)
1. Identify discriminatory housing practices
2. Discuss Fair Housing laws and protected classes
3. Discuss property disclosures required by law (e.g., asbestos, lead)
4. Identify federal regulations that protect prospective home buyers
5. Discuss the importance of state, county, and local real estate regulations
6. Discuss the nature of land use controls and zoning regulations
7. Discuss the nature of leasing and tenancy
8. Discuss the role of regulatory organizations in the real estate industry
9. Discuss fiduciary responsibilities in real estate
10. Real Estate Transactions and Finance (20 test items)
11. Describe the real estate transaction process
12. Explain approaches to real estate lending (OP:281) (SP)
13. Discuss deeds and transfer of title
14. Discuss the involvement of financial institutions in the real estate industry (OP:186) (SP)
15. Discuss the nature of the secondary mortgage market (OP:363) (SP)
16. Explain the nature of real estate investments (PD:317) (SP)
17. Explain the nature of a real estate closing/settlement (SE:469) (SP)
Ethics (5 test items)
1. Discuss truth in advertising
2. Discuss ethical considerations in real estate
Agency (20 test items)
1. Describe types of agents (e.g., seller’s, buyer’s, dual, sub)
2. Explain the nature of agency relationships (BL:072) (SP)
3. Explain the role and responsibilities of real estate sales agents (PD:245) (SP)
4. Discuss the role of agents in real estate transactions
5. Differentiate between agency in commercial vs. residential transactions
6. Explain ways to advertise real estate listings for sale (SE:467) (SP)