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Real Estate Research Report

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Real Estate Research Report ***Draft: Do Not Distribute*** Merced College Program Investigation: Real Estate Spring 2014 Program Overview In accordance with Title 5, Section 51022, “…College districts are required by current regulation and statute to develop a process for program discontinuance and minimum criteria for the discontinuance of occupational programs.” A program is defined as “…an organized sequence of courses leading to a defined objective, a degree, a certificate, a diploma, a license, or transfer to another institution of higher learning” (Title 5, Section 55000). The President of the Merced College Academic Senate asked the Office of Grants and Institutional Research (OGIR) to identify some quantitative statistics for the Real Estate Program to further inform a discussion on program discontinuance. The Merced College Real Estate Program was first approved by the California Community Colleges Chancellor’s Office (CCCCO) in 1966. According to the Merced College Catalog 2013-2014 (p. 239), this program prepares students for the examinations for the California Real Estate Salesman’s and Broker’s licenses. The program covers real estate principles, real estate practices, legal aspects of real estate, real estate finance, real estate appraisal, real property management, and escrow procedure. Both an Associate of Arts (AA) and a Certificate in Real Estate are currently offered. Core courses for the Real Estate Program for the both AA and the certificate include the following: • ACTG-04A: Fundamentals of Financial Accounting –or- • ACTG-51: Applied Accounting • BUS-18A: Business Law • CPSC-30: Computer Applications • REAL-42: Real Estate Principles • REAL-43: Real Estate Practices • REAL-45: Real Estate Finance • REAL-46: Real Estate Appraisal • REAL-48: Real Property Management • REAL-49: Escrow Procedure According to the Merced College Catalog 2013-2014, ACTG-04A “…provides the student with the knowledge of corporate financial statement reporting and the ability to analyze the reports of a corporation.” ACTG-51 emphasizes “…a preparer approach using manual accounting methods, and comparing them to current computerized accounting.” BUS-18A studies “…legal principles that govern the conduct of business.” CPSC-30 provides “…an introduction to application software used in the workplace with emphasis on business situations.” Page 1 3/6/2014 2:42:38 PM REAL-42 studies the “…principles of real estate in California, history of California real estate, property, contracts, agency, listings, real estate financing, deeds, liens and encumbrances, escrows and title insurance, land descriptions, real estate mathematics, and real estate licensing and state regulations.” REAL-43 analyzes “…problems related to establishing and conducting a real estate business…” REAL-45 is “…a practical applied study and analysis of money markets, interest rates, and real estate financing.” REAL-46 “…explains methods and techniques for analyzing data used in the valuation of real property.” REAL-48 “…provides a practical approach to management of developed real estate.” REAL-49 “…covers the principles and procedures involved in the process of opening and closing real estate escrow transactions.” Methodology Quantitative statistics analyzed in this report were: 1. Productivity a. Full Time Equivalent Faculty (FTEF) b. Full Time Equivalent Student (FTES) 2. Enrollment a. Enrollment b. Completion c. Success d. Persistence e. Frequency of Course Offerings 3. Student Demographics a. Age b. Ethnicity c. Gender 4. Program Interest, Graduates, and Transfers 5. Comparable Programs 6. Labor Market 7. State and National Examinations, Credentials, and Certifications 8. State and National Associations For the purpose of this report, enrollment in any of the aforementioned Real Estate (REAL) courses was analyzed as though the student’s educational goal was to obtain a Real Estate degree. It should be noted that enrollment in any of these courses does not necessarily define the student’s educational goal. Courses outside the Real Estate department (i.e. ACTG, BUS, CPSC) were not included in this analysis as they may fulfill requirements for other degrees or breadth requirements. The requested timeframe was Fall 2003 to Spring 2013. REAL courses were not offered in the summer during the reporting period, so only primary terms were included. Only students who received a grade were included in this report. Students who dropped from a course and did not receive a course grade were not included in this report. Page 2 3/6/2014 2:42:38 PM FTEF and FTES The average FTEF for Real Estate classes was .65. FTEF for Real Estate classes in total ranged from .2 in Fall 2010 and Fall 2011 to 1.2 in Spring 2006. In general, each class had an FTEF of .2 each semester, with the exceptions of REAL-42 in Spring 2005, Fall 2005, Spring 2006, and Spring 2007, REAL-43 in Spring 2006, and REAL-45 in Fall 2006, all of which had an FTEF of .4. Table 1: Real Estate-FTEF Term REAL-42 REAL-43 REAL-45 REAL-46 REAL-48 REAL-49 Total Fall 2003 .2 - .2 - .2 - .6 Spring 2004 .2 .2 - .2 - - .6 Fall 2004 .2 .2 .2 - .2 - .8 Spring 2005 .4 .2 - .2 - .2 1.0 Fall 2005 .2 .2 .2 - .2 - 1.0 Spring 2006 .4 .4 - .2 - .2 1.2 Fall 2006 .2 .2 .4 - .2 - 1.0 Spring 2007 .4 .2 - .2 - .2 1.0 Fall 2007 .2 .2 .2 - - - .6 Spring 2008 .2 .2 - .2 - .2 .8 Fall 2008 .2 - - - .2 - .4 Spring 2009 .2 .2 - - - - .4 Fall 2009 .2 - .2 - - - .4 Spring 2010 .2 .2 - .2 - - .6 Fall 2010 .2 - - - - - .2 Spring 2011 .2 .2 - - .2 - .6 Fall 2011 .2 - - - - - .2 Spring 2012 .2 .2 .2 - - - .6 Fall 2012 .2 - - - .2 - .4 Spring 2013 .2 .2 .2 - - - .6 Average .24 .21 .23 .2 .2 .2 .65 Source: MCCD Class Counts The average FTES for Real Estate classes was 8.83. Total FTES ranged from 2.0 in Fall 2010 to 20.8 in Fall 2005. REAL-42 (3.9) had the highest average FTES, and REAL-48 had the lowest (2.1). However, REAL-42 was offered more frequently, and FTES ranged from .8 in Spring 2013 to 9.5 in Fall 2005. Page 3 3/6/2014 2:42:38 PM Table 2: Real Estate-FTES Term REAL-42 REAL-43 REAL-45 REAL-46 REAL-48 REAL-49 Total Fall 2003 6.0 - 3.5 - 1.9 - 11.4 Spring 2004 5.8 4.7 - 3.5 - - 14.0 Fall 2004 7.6 2.3 4.0 - 2.3 - 16.2 Spring 2005 7.6 4.7 - 4.0 - 3.4 19.7 Fall 2005 9.5 4.8 3.9 - 2.6 - 20.8 Spring 2006 5.9 3.8 - 3.7 - 3 16.4 Fall 2006 5.3 2.7 5.0 - 2.8 - 15.8 Spring 2007 5.8 2.4 - 3.9 - 2.2 14.3 Fall 2007 2.4 1.2 1.1 - 1.1 - 4.7 Spring 2008 2.4 .8 - 1.3 - 1.1 5.6 Fall 2008 1.8 - - - - - 2.9 Spring 2009 1.4 1.2 - - - - 2.6 Fall 2009 2.6 - 1.7 - - - 4.3 Spring 2010 1.6 2.4 - 1.5 - - 5.5 Fall 2010 2.0 - - - - - 2.0 Spring 2011 2.5 2.7 - - 2.5 - 7.7 Fall 2011 2.3 - - - - - 2.3 Spring 2012 2.2 1.2 .9 - - - 4.3 Fall 2012 2.3 - - - 1.3 - 3.6 Spring 2013 .8 .9 .8 - - - 2.5 Average 3.9 2.6 2.6 3.0 2.1 2.4 8.83 Source: MCCD Class Counts Enrollment Enrollment consisted of students who registered for a Real Estate course (REAL-42, REAL-43, REAL-45, REAL- 46, REAL-48, and/or REAL-49) and received a letter grade A, B, C, D, F, P, NP, I, W, FW, MW during Fall 2003 to Spring 2013. There were 2147 total enrollments in REAL classes from Fall 2003 to Spring 2013, representing 1183 unique students. Overall, the average enrollment per term was 107. REAL-42 had the highest total enrollment (1032, average 52) and REAL-49 had the lowest total enrollment (103, average 26). Fall 2005 (267) had the highest enrollment of any term, and Fall 2011 (27) had the lowest. Page 4 3/6/2014 2:42:38 PM Table 2: Real Estate-Enrollment (Headcount) Term REAL-42 REAL-43 REAL-45 REAL-46 REAL-48 REAL-49 Total Fall 2003 84 - 44 - 26 - 154 Spring 2004 83 58 - 39 - - 180 Fall 2004 94 28 42 - 27 - 191 Spring 2005 102 48 - 45 - 36 231 Fall 2005 144 50 40 - 33 - 267 Spring 2006 84 41 - 40 - 31 196 Fall 2006 65 28 66 - 30 - 189 Spring 2007 76 36 - 46 - 25 183 Fall 2007 29 12 11 - - - 52 Spring 2008 27 9 - 14 - 11 61 Fall 2008 22 - - - 14 - 36 Spring 2009 16 12 - - - - 28 Fall 2009 27 - 18 - - - 45 Spring 2010 22 27 - 15 - - 64 Fall 2010 23 - - - - - 23 Spring 2011 38 29 - - 26 - 93 Fall 2011 27 - - - - - 27 Spring 2012 29 13 9 - - - 51 Fall 2012 27 - - - 17 - 44 Spring 2013 13 11 8 - - - 32 Total 1032 402 238 199 173 103 2147 Average 52 29 30 33 25 26 107 Source: Ellucian Completion A student completed a course if the student earned a letter grade A, B, C, P, D, F, NP, or I. The course completion rate (CCR) is the percent of students who completed a course. Real Estate courses had an overall CCR of 77.27%. REAL-46 (83.42%) had the highest CCR, and REAL-45 (73.95%) had the lowest. Spring 2008 (90.16%) had the highest CCR, and Spring 2005 (67.97%) had the lowest. Page 5 3/6/2014 2:42:38 PM Table 4: Real Estate-Course Completion (Headcount) Term REAL-42 REAL-43 REAL-45 REAL-46 REAL-48 REAL-49 Total Fall 2003 75.00% - 54.55% - 73.08% - 68.83% Spring 2004 80.72% 74.14% - 82.45% - - 78.89% Fall 2004 79.79% 82.14% 80.95% - 77.78% - 80.10% Spring 2005 67.65% 64.58% - 75.56% - 63.89% 67.97% Fall 2005 77.08% 74.00% 85.00% - 87.88% - 79.03% Spring 2006 77.38% 63.41% - 85.00% - 83.87% 77.04% Fall 2006 66.15% 85.71% 63.64% - 76.67% - 69.84% Spring 2007 76.32% 83.33% - 84.78% - 84.00% 80.87% Fall 2007 79.31% 83.33% 81.82% - - - 80.77% Spring 2008 81.48% 100.00% - 92.86% - 100.00% 90.16% Fall 2008 86.36% - - - 78.57% - 83.33% Spring 2009 87.50% 83.33% - - - - 85.71% Fall 2009 66.67% - 94.44% - - - 77.78% Spring 2010 72.73% 92.59% - 93.33% - - 85.94% Fall 2010 86.96% - - - - - 86.96% Spring 2011 76.32% 86.21% - - 80.77% - 80.65% Fall 2011 74.07% - - - - - 74.07% Spring 2012 75.86% 76.92% 88.89% - - - 78.43% Fall 2012 92.59% - - - 70.59% - 84.09% Spring 2013 61.54% 90.91% 100.00% - - - 81.25% Total 76.26% 77.86% 73.95% 83.42% 78.61% 78.64% 77.27% Source: Ellucian Success A student earned a successful grade in a course if the student received a letter grade A, B, C, or P.
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