FREE SCHOOL OF REAL ESTATE
19900 West Catawba Ave.
Suite 103
Cornelius, NC 28031
Phone: 704-892-6350
Fax: 704-837-4443
Email: freeschoolre@gmail.com
Website: www.freeschoolre.com
SCHOOL BULLETIN
Publication Date: June 10, 2010
Name of School:
Free School of Real Estate
School Licensure/Approval:
Free School of Real Estate is licensed by the North
Carolina Real Estate Commission to conduct real estate
prelicensing and postlicensing courses. Free School of
Real Estate is also an approved sponsor of continuing
education courses.
Name of School Owner:
Frank Free
Purpose of School:
The primary purpose of Free School of Real Estate is:
- To conduct the prelicensing course required to
qualify for the license examination to become licensed
as a real estate provisional broker.
- To conduct the postlicensing courses required for a
provisional broker to retain his/her license and
remove the provisional status from their license.
- To provide continuing education for real estate
brokers.
Name of School Director:
Frank Free
Names of School Officials and
Instructors:
Frank Free – Director
Frank Free – Owner &
Instructor
Approved to teach:
Broker Prelicensing, Postlicensing Courses &
certain Continuing Education courses.
Barry Draughon –
Instructor
Approved to teach:
Broker Prelicensing, Postlicensing Courses &
certain Continuing Education courses.
Entrance/Admission Requirements:
Students are not required to
have any special education background to enroll in the
pre-licensing course, but a high school diploma is
strongly recommended. NO STUDENT SHALL BE DENIED
ADMISSION ON THE BASIS OF AGE, SEX, RACE, COLOR, CREED,
NATIONAL ORIGIN OR RELIGIOUS PREFERENCE.
Postlicensing Course
Prerequisite:
Possession of a current
provisional broker license in North Carolina is a
prerequisite for enrollment in the postlicensing courses.
Prospective postlicensing course students must present
evidence of meeting this prerequisite at the time of
enrollment.
A student may take postlicensing
courses as part of the Commission’s requirement to
reinstate his/her license.
A student may however, also take
postlicensing courses to comply/satisfy the terms of a
consent order or other disciplinary action required by the
Commission. However, the student must provide confirmation
in writing of the requirement to take the postlicensing
course (email acceptable).
Provisional brokers must
complete the 90-hour postlicensing education program
within three (3) years of initial licensure in order to
retain their broker license and terminate the
provisional license status. Provisional brokers are
required to take at least one 30-hour postlicensing course
each year; however he/she may take more than one the first
or second year.
Registration:
The North Carolina Real Estate
Commission requires that each student complete and execute
a Student Enrollment Contract prior to the first day of
class. This agreement, which has been approved by the
North Carolina Real Estate Commission, sets forth the
basic rights and obligations of both the school and the
student.
School information, course
syllabi, instructors, class schedules, registration
information and forms may be found on our website at
www.freeschoolre.com or requested by phone, fax or email
(freeschoolre@gmail.com).
Course Completion Requirements:
Broker Prelicensing Course:
Students must pass the school final exam with a grade of
75 percent, in addition to meeting the required
attendance requirements in order to pass the course
and receive a course completion certificate. The final
exam is a comprehensive test which includes all materials
covered in each scheduled classroom hour. Homework
assignments, math workshops and a mid-term examination
will help prepare the student for the final exam. However,
the final exam is the only grade that counts toward the
successful completion of the course. Course completion
certificates will be issued to all students who
successfully pass the Broker Prelicensing course.
Failure to pass the end of
course examination, with a 75 percent score will result in
the student failing the course. See next section.
Broker Prelicensing Course
Repeat Policy:
Failure to pass the end of
course examination with an 75 percent score will result in
the student failing the course. See next section.
Broker Prelicensing Course Repeat Policy:
Free School of Real Estate does
allow the student to re-take a failed final examination if
the student scored 70 or more but less than 75 percent.
The re-take exam must be taken within 30 days of the
failed final examination. Should the student not
score 75 percent on the re-take, the student must repeat
the entire course and end of course exam. Those students
repeating the course will receive a 50 percent discount
from the regular tuition cost. Students repeating the
course must execute a new student enrollment contract and
all course requirements in terms of attendance and
policies remain the same as the original course
requirements.
Broker Postlicensing Course:
Students must score a minimum grade of 75 percent
on each course final exam in order to pass each course.
There is only one re-take opportunity. A student
must score 75% on the retake exam in order to pass the
course. Students must also successfully complete any
mandatory class/homework assignments in order to pass each
postlicensing course. Course completion certificates will
be given to all students who successfully pass the broker
postlicensing course.
Re-take exams must be completed
within 90 days of completion of the course. Please email
the Director at freeschoolre@gmail.com to schedule a
re-take exam. Re-take exams will be scheduled for
Wednesdays or Fridays.
Attendance Requirements:
Broker Prelicensing students
must attend a minimum 90 percent of all
scheduled classroom hours (75 hours). Students cannot miss
more than 7.5 hours of scheduled classroom hours. These
requirements apply for students re-taking the class as
well. Instructors will take attendance for every scheduled
class session. Instructors are responsible for monitoring
attendance, including arriving late or leaving early.
Students who do not satisfy attendance requirements will
not be eligible to take the end of course final exam.
Broker Postlicensing
students must attend a minimum of 80 percent
of all scheduled classroom hours for each 30-hour course.
Students cannot miss more than six hours of scheduled
classroom hours for each 30-hour course. This requirement
applies for course repeats as well. Instructors will take
attendance for every scheduled class session. Instructors
are responsible for monitoring attendance, including
arriving late or leaving early. Students who do not
satisfy attendance requirements will not be eligible to
take the course final exam.
Student Conduct:
Students are expected to conduct
themselves as mature adults. Students may dress
comfortably, but in good taste. (jeans, sweaters, collared
tee shirts with no derogatory graphics/meanings are
acceptable). All students and instructors must be treated
with respect. The instructor has the final decision on
what is appropriate in the class room as to dress and
conduct.
Cell Phones:
Cell phones must be off or on
silent vibrate during a scheduled class. Phones will
NOT be permitted in the class on the day of the final
exam. If the phone is left with the instructor during the
final exam, the instructor nor Free School of Real Estate
takes responsibility for the phone.
Course Schedules:
Course schedules are posted on
the website (www.freeschoolre.com) and are available at
the school office.
Inclement Weather: As a
general rule, if Mecklenburg Schools are closed due to
inclement weather, all classes are cancelled. A
cancellation notice will be posted on
www.freeschoolre.com. If you have any questions, you may
email the Director at freeschoolre@gmail.com. Cancelled
classes will be rescheduled to provide the classroom hours
required.
Tuition and Fees: Free
School of Real Estate accepts a check or credit card
(Visa, Discover or MasterCard) for full tuition at the
time of enrollment. Full tuition is due prior to the start
of the class. Course tuition includes student syllabus and
course materials as determined by the specific course. The
tuition does NOT include the textbook.
Returned check fee is $35.00.
Textbook
Each student will be required to
purchase the designated approved textbook. Textbooks may
be purchased at the time of enrollment, but no later than
first class. Students must bring the required textbook to
each class. Repeated failure to bring textbook to class
may result in expulsion from course.
Broker Prelicensing Tuition:
(75-hour class) - $390 tuition
Textbook: $40 -
Modern
Real Estate Practice in North Carolina, Seventh
Edition (most current edition)
Broker Postlicensing Tuition: (30-hour class) - $205
tuition
Textbook: $55 -
The latest edition (2008-2009)
Real Estate Manual
This textbook is used for all
three Broker courses.
Real Estate Continuing Education
Courses: No separate textbooks are required and
all materials are included in the course fee. Schedules
are posted on our webpage.
Tuition/Fee Refunds:
- Prior to the first class a student may withdraw and
receive a full refund, minus a $25 administrative fee or
he/she may transfer to another course scheduled within
(6) months of the date of the original registered course
with no administrative fee charged.
- If a student wishes to transfer to another schedule
prior to 25 percent of the class has been held (18 hours
for Broker Prelicensing; 7.5 hours for Broker
Postlicensing) he/she may transfer one time at no
additional fee, however all attendance requirements are
still required and the new schedule must be taken within
(6) months.
- No transfers are permitted after 25 percent of the
class has been held.
- If a student withdraws prior to 25 percent of the
class (18 hours for Broker Prelicensing; 7.5 hours for
Broker Postlicensing), a 50 percent refund will be
issued.
- No refunds will be issued after 25 percent of the
class has been held.
- No refunds will be given for no shows.
- A written notice is required for all
transfers or withdrawals (mail, fax or email).
- Full tuition reimbursement will be given to students
if the school cancels the course.
Real Estate Broker Prelicensing
Program
The total number of hours for
this course, including school examination, is 75 hours.
Satisfactory completion of the real estate Broker
Prelicensing course will qualify the student to take the
North Carolina Real Estate Licensing Examination.
Prelicensing Course Topics:
Basic Real Estate Concepts
Property Ownership and Interests
Property Taxation and Assessment
Transfer of Title and Real
Property
Land Use Controls
Environmental Hazards, Laws and
Regulations
Brokerage Relationships: Law and
Practice
Basic Contract Law
Agency Contracts, Disclosures
and Related Procedures
Sales Contracts and Related
Procedures
Real Estate Financing
Closing Procedures
Real Property Valuation
(Appraisal)
Landlord and Tenant
Property Management
Fair Housing
Federal Income Taxation of
Property Ownership/Sale
Basic House Construction
Real Estate License Law and
Commission Rules
Agent Safety
Review of License Application
and Procedures
Real Estate Mathematics
Approved Postlicensing Course
Descriptions
Real Estate Broker Postlicensing
Courses
Students must have a
current Broker license on provisional status in North
Carolina in order to take these courses. Once a student
has successfully completed all three 30-hour Broker
Postlicensing courses within three years of initial
licensure, the provisional status will be removed from
his/her Broker license. There is a final exam with each
30-hour course.
Special Note: If a licensee
does not complete Postlicensing as required by the first
anniversary date/second anniversary date of licensure,
his/her license will be placed on inactive status.
However, if the licensee has not completed all three
Postlicensing courses by the third anniversary date,
his/her North Carolina real estate license will be
cancelled.
Broker Relationships and
Responsibilities Course - 30 hours
Agency Relationships and Duties
– A Practical Review
Working with Sellers
(Residential Sales)
Working with Buyers (Residential
Sales)
Miscellaneous Related Issues
Contracts and Closing Course
– 30 hours
Review of Selected Important
Basic Concepts
Real Estate Sales Contract
Preparation
Sales Contract Procedures
Post-Contract Signing and
Closing Procedures
Real Estate Settlement
Procedures Act (RESPA)
Closing Statement Preparation
Other Topics
Selected Topics Course –
30 hours
Introduction to Commercial Real
Estate Brokerage
Residential Property Management
Basics
Land Use Controls and the Real
Estate Agent
Loan Fraud
Miscellaneous License Law and
Rule Issues
License Law Case Studies
Fair Housing Do’s and Don’ts
Legal Requirements for
Establishing a Real Estate Brokerage Firm
Manufactured and Modular Homes
Local Issues
Continuing Education Courses:
Free School of Real Estate is
approved by the North Carolina Real Estate Commission to
sponsor certain real estate continuing education courses.
A complete course schedule is available through the school
office or on www.freeschoolre.com.
Complaints:
Any
complaint concerning Free School of Real Estate
Prelicensing or Postlicensing courses should be directed
to:
North Carolina Real Estate
Commission
Education Division
PO Box 17100
Raleigh, NC 27619-7100
(919) 875-3700
CERTIFICATE OF TRUTH AND
ACCURACY
I certify that the policies and
information contained in this bulletin are true and
correct and that the Free School of Real Estate will abide
by the policies herein.
Frank Free
School Director
Free School of Real Estate