BULLETIN: July 2015
Classroom located at Pirates Quay Shopping Center, MP 11, Nags Head, NC
Owned by the North Carolina Academy of Real Estate, LLC
The North Carolina Academy of Real Estate, LLC is licensed by the North Carolina Real Estate Commission to conduct the real estate broker pre-licensing course and post-licensing course. The pre-licensing course is required to qualify for the real estate licensing examination to become licensed as a real estate “provisional” broker and the post-licensing courses are needed for a “provisional” broker to remove the “provisional” status of such license. The purpose of the school is to help provide students with the basic skills and knowledge necessary to act as a licensed real estate broker.
ENTRANCE REQUIREMENTS Students must be at least 18 years of age and should have a minimum of a high school diploma or equivalent. This requirement may be waived under special conditions. “No student shall be denied admission on the basis of age, sex, race, color, creed, national origin or religious preference.”
REGISTRATION AND TUITION POLICY Broker Pre-licensing and Post-Licensing:Minimum $100 deposit with signed contract applied toward the tuition. Balance due by first day of class. We accept cash, check, Visa and MasterCard. Textbook must be purchased in person or shipped. $10 shipping fee will apply.
Each student must execute, prior to the start of his or her first scheduled class meeting, an enrollment contract which sets forth the basic rights and obligations of both the school and the student and which has been approved by the North Carolina Real Estate Commission. Special accommodation request letter must be submitted at the time of registration and be accompanied by documentation from a professional in the area of disability.
REFUND POLICY Broker Pre-licensing and Post-licensing: Prior to the start of the course, a student may withdraw from the course and receive a refund on tuition minus a $25 administrative fee. NO REFUNDS ON TEXTBOOKS OR ADDITIONAL STUDY MATERIALS. NO REFUNDS OR TRANSFERS AFTER A CLASS HAS STARTED. If textbooks are updated or changed, the student is required to purchase a current textbook. Course Cancellation Policy: If a single class is canceled due to weather, instructor illness, etc., the material will be covered in the next scheduled class and the course ending date will be extended by the class time missed. If the school postpones or cancels an entire course, the student will receive a full tuition refund.
COURSE COMPLETION POLICY A comprehensive final course exam will account for 100% of the student’s grade for Broker Pre- and Post-licensing courses.
Broker Pre- and Post-Licensing students (1) must bring with them to class a current edition of the text assigned. Post-licensing students who choose to use the cd or online versions of the NC manual are responsible for the access to this format during the class. The school is not responsible for providing electronic devices, electrical outlets or internet access required for either of these formats. Refer to the Student Conduct Policy for proper uses of electronic devices in the classroom (2) must score a minimum of 75% on the course final exam; or retake (3) students must also satisfactorily complete any mandatory classroom or homework assignments. Students who can not complete any mandatory classroom or homework assignments due to lack of access to the text will not be able to complete the course and will not receive a refund.
ATTENDANCE All students in broker pre-licensing and post-licensing courses must attend at least 80% of all classes. Instructors will keep attendance daily. Late arrivals and early departures by students will be counted in no less than15 minute increments. A student who misses 20% or more of a course may not take the final exams or retakes.
EXAMS Students are allowed one final exam and one free retake exam. Free course retake exams will be scheduled by the instructor the first day of class and will occur within 7 days of the last day of the class. Students may purchase one retake exam date other than the one scheduled for $150 based on the availability of an instructor and/or official of the school. The $150 fee is non-transferable and non-refundable. However, all course final examinations, retake exams, and make-up work must be completed within 90 days following the ending date of the course. Students may be offered only one retake exam, free or otherwise. Students may not use any device that can take pictures during the exam. Any student caught cheating will be dismissed from the school without the ability to complete the course or receive a refund.
REPEAT OFFER Students who do not meet the completion policy may purchase a repeat opportunity of that course for $99 within a 12-month period from the original course date, however, the student must meet the completion policy of the pre- or post-licensing course during the repeat session.
STUDENT CONDUCT POLICY Students are expected to conduct themselves in a professional manner. The use of a cell phone, computer or other communication device in a manner disruptive to the class is prohibited. A request to the student to remove these items from the classroom is at the sole discretion of the instructor or official of the school. These items are not allowed to be used or out during an exam. No guest or family member is allowed in the classroom during class. Any student who does not follow the student conduct policy may be dismissed from the school by the school director without the ability to complete the course or receive a refund. Use of any electronic device not related to class during the class period constitutes disruptive behavior. Illegal substances and alcohol are not permitted on school grounds.
Real Estate Broker Pre-Licensing Course (75 hours)
Text: Modern Real Estate Practices in North Carolina Galaty, Allaway and Kyle. Tuition: $400. Text $60.
This course is an introductory level real estate principles and practices course with heavy emphasis on real estate brokerage law and practice. The primary objectives of this course are to provide students with the basic knowledge and skills necessary to act as a licensed real estate broker in a manner that protects and serves the public interest, and to prepare students for the real estate license examination. Major topics addressed in this course include basic real property law, property taxation, land use controls, environmental hazards, brokerage relationships and practices, real estate contracts, real estate financing, closing real estate sales transactions, real estate valuation, fair housing, landlord and tenant, property management, federal income taxation of real estate, basic house construction, basic real estate investment, the North Carolina Real Estate License Law and North Carolina Real Estate Commission Rules and Trust Account Guidelines. Successful completion of the course qualifies you to take the real estate license examination.
Real Estate Broker Post-Licensing Courses (90 hours)
Text: NC Real Estate Manual - Hetrick, Outlaw, Moylan Tuition: $275 per Post-Licensing Course. Manual: $55, CD $25, Online Access $20 (See http://www.ncrecpubs.org/inventory.asp).
Student is responsible for having the most current version of the manual. Same manual is used for all three Post-Licensing Courses. You may purchase the manuals directly from the commission or contact the school for manual availability.
Post-Licensing Course Prerequisites: Possession of a current North Carolina broker license on “provisional” status is a prerequisite for enrollment in the post-licensing courses. Prospective post-licensing course students must present evidence of meeting this prerequisite at the time of enrollment. Exceptions: A student who is taking the course pursuant to a disciplinary consent order or for the purpose of reinstating his/her license. In either event, the student should provide documentation.
NOTICE: Pursuant to North Carolina Real Estate Commission Rule 21 NCAC 58A .1904, the Commission may deny or withdraw credit for a postlicensing course that a provisional broker begins taking while already enrolled in another postlicensing course at the same school or a different school if participating in the two courses concurrently results in the provisional broker attending postlicensing course sessions that total more than 21 classroom hours in any given seven-day period.
The 90-classroom-hour postlicensing education program consists of three 30-classroom-hour courses prescribed by the Commission which may be taken in any sequence. A provisional broker must satisfactorily complete at least one of the 30-hour courses during each of the first three years following the date of his or her initial licensure as a broker in order to retain his or her eligibility to actively engage in real estate brokerage. Upon completion of all three courses by a provisional broker, the provisional status of the broker’s license will be terminated by the Commission.
The primary objective of the courses is to provide instruction at a level beyond that provided in pre-licensing courses on topics deemed to be of special importance to licensees.
Please note that post-licensing education requirements are in addition to continuing education requirements and the two are not synonymous.
- Brokerage Relationships and Responsibilities Broker Post-Licensing Course (30 Hours) This is one of three 30-classroom hour mandatory postlicensing courses that must be completed by newly licensed North Carolina provisional brokers within three years after licensure. Topics addressed in this course include a review of agency relationships in real estate sales transactions and a real estate broker’s legal duties to clients and customers, a step-by-step review and discussion of the functions and responsibilities of a real estate broker when working with residential sellers and buyers, a review of issues associated with transactions in progress when an broker leaves a firm, and a review of license status and education issues.
- Contracts and Closings Broker Post-Licensing Course This course is one of three 30-classroom hour mandatory postlicensing courses that must be completed by newly licensed North Carolina provisional brokers within three years after licensure. Topics addressed in this course include selected basic contract law concepts, real estate sales contract preparation, sales contract procedures, buyer’s due diligence, closing procedures, Real Estate Settlement Procedures Act, closing statement preparation, contracts for deed, options, and selected real estate license status and education issues.
- Selected Topics Broker Post-Licensing Course (30 Hours) This is one of three 30-classroom hour mandatory postlicensing courses that must be completed by newly licensed North Carolina provisional brokers within three years after licensure. Topics addressed in this course include commercial real estate brokerage, residential property management, land use controls, loan fraud, brokerage compensation issues, license law issues and case studies, selected fair housing issues and case studies, establishing a brokerage firm, manufactured and modular homes and issues relating to short sales.
"I certify that the policies and information contained in this bulletin are true and correct, and that the North Carolina Academy of Real Estate, LLC will abide by the policies included herein." -Deana G. Wilson, Director
COMPLAINTS Any complaint concerning the school should be directed to: North Carolina Real Estate Commission, Attn: Education Division, PO Box 17100, Raleigh, NC 27619.
This CONTRACT between the North Carolina Academy of Real Estate, LLC ("herein after called SCHOOL") and yourself ("herein after called STUDENT"), is entered into this
, and constitutes
the complete agreement of the parties. SCHOOL agrees to provide STUDENT the course(s) indicated next in accordance with the requirements prescribed by the North Carolina Real Estate Commission and further agrees to issue STUDENT a course completion certificate provided that STUDENT satisfactorily completes such course in accordance with SCHOOL policies and the North Carolina Real Estate Commission Rules.