Date of Bulletin Publication

July 1, 2018

Legal Name of School

Elliott Real Estate Academy

Legal Name of School Owner

Elliott Real Estate Academy, LLC

Name of School Director

Dennis Everett Miller

Names of Full-Time School Officials and Faculty

Dennis Miller, Director & Instructor
James Walker, Instructor
Joseph Dan Moore, Instructor
Barb Kelly, Instructor

 

Purpose of School

Elliott Real Estate Academy conducts the Broker Pre-license Course required to qualify for the license examination to become licensed as a real estate provisional broker in North Carolina and the Post-license Education Program needed for a provisional broker to remove the provisional status of such license.

School Licensure

Elliott Real Estate Academy is licensed by the North Carolina Real Estate Commission. 

Any complaints concerning the School should be directed in writing to: 

North Carolina Real Estate Commission 
ATTN: Education & Licensing Division 
P.O. Box 17100
Raleigh, NC 27619

Per Commission Rule 58H .0205: the School must provide each Prelicensing and Postlicensing course student with a copy of this School Bulletin prior to payment of any non-refundable tuition or fee. The Bulletin, which is required and approved by the North Carolina Real Estate Commission, outlines School policies plus the rights and obligations of the School and the student. A signed certification that a student received a copy of the Bulletin must be retained by the School.

No student shall be denied admission on the basis of age, sex, race, color, Familial status, national origin, handicap status, or religion.


Pre-license & Post-license Courses

Broker Pre-license Course

Purpose of the Course
The primary objectives of the Broker Pre-license Course are (1) to provide students with the basic knowledge and skills necessary to act as licensed real estate brokers in NC in a manner that protects and serves the public interest and (2) to prepare students for the NC real estate license examination.  At this School the Prelicensing course consists of a total of 75 classroom hours of instruction, including the end-of-course course examination.

After passing the Prelicensing course, a student must submit a license application to the NC Real Estate Commission to be eligible to take the license examination.  License application instructions are provided in the free publication Real Estate Licensing in North Carolina which is available on the Commission’s website at www.ncrec.gov.

Course Description
Major topics addressed in the Broker Prelicensing Course include basic real property law, property taxation, land use controls, environmental hazards, brokerage relationships and practices, real estate contracts, real estate financing, closing a real estate sale transaction, 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. Real estate mathematics is an important component of this course and calculations will be required

Course Enrollment Requirements
The minimum age requirement to obtain a real estate license in North Carolina is 18. To enroll in the Broker Prelicensing Course at Elliott Real Estate Academy, prospective students must be at least 17 years old, possess good reading and comprehension skills, and have basic math skills.

Broker Postlicensing Education Program

Purpose of the Post-license Program
The primary objective of Postlicensing Education Program is to provide instruction at a level beyond that provided in the Broker Prelicensing Course on topics deemed to be of special importance to licensees. 

Per Commission Rule 58A .1902: Provisional Brokers must complete, within three (3) years following initial licensure “a postlicensing education program consisting of ninety (90) hours of classroom instruction in subjects determined by the Commission” [G.S.93A-4(a)1]. The program consists of three 30-hour courses, at least one of which must be completed in each of the first three (3) years following initial licensure in order to retain eligibility to actively engage in real estate brokerage. 

The 90-hour Postlicensing Education Program consists of three 30-hour courses prescribed by the Commission which may be taken in any sequence. However, the Commission recommends the following course number sequence (301, 302, & 303), as course materials were developed with that sequence in mind. When a provisional broker has timely completed all three (3) courses, the provisional status of the broker’s license will be automatically terminated by the Commission. 

Course Descriptions

Post 301 - Brokerage Relationships and Responsibilities
Topics addressed in this course include a review of agency relationships in real estate sales transactions and a real estate agent’s legal duties to clients and customers, a step-by-step review and discussion of the functions and responsibilities of a real estate agent when working with residential sellers and buyers, a review of issues associated with transactions in progress when an agent leaves a firm, and a review of license status and education issues.

Post 302 - Contracts and Closing
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 disclosures preparation, contracts for deed, options, and real estate license status and education issues.

Post 303 - Selected Topics 
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.

Course Enrollment Requirements
Per Commission Rule 58H .0209: A school shall not enroll an individual in a Postlicensing course if the first day of the Postlicensing course occurs while the individual is enrolled in a Prelicensing course or if that individual has not passed the license examination.

Per Commission Rule 58A .1904, a provisional broker is subject to withdrawal or denial of Postlicensing education credit by the Real Estate Commission if s/he enrolls concurrently in Postlicensing courses (at the same or different schools) that result in the provisional broker being in class for more than 30 classroom hours in any given seven-day period.