Terry Farr Real Estate School Inc
Where learning becomes a career!

Courses

Pre-Licensing
Day Pre-Licensing

Due to the Covid-19 out break and the mandate to not gather in large groups we have been given permission to provide classes Live Online. We will meet Tuesday-Thursday from 9:00AM to 1:00PM

Rules for attendance are as follows:

You must be visible in the Zoom app to me while class is in attendance. Your time will be counted if you change from video to non-video.

Be on time and do not miss (if you miss more than 16 hours you will not be allowed to test)

Begin a career in real estate with our 84 hr. pre-licensing class. This class includes 80 hours of instruction and a 4 hour exam. We are an approved real estate school with the North Carolina Real Estate Commission. You must pass the class exam with a 75 or high to continue to take the North Carolina Real Estate Exam. Should you get a 65 - 74 you will be allowed to retest one time. If your original score is lower than 65 or you do not pass your retake exam you MUST sit through the class again should you want to test again!

Upcoming Classes:
No scheduled classes.
Evening Pre-licensing

Due to the Covid-19 out break and the mandate to not gather in large groups we have been given permission to provide classes Live Online. We will meet Tuesdays Wednesdays & Thursdays from 6:00PM to 10:00PM

Rules for attendance are as follows:

You must be visible in the Zoom app to me while class is in attendance. Your time will be counted if you change from video to non-video.

Be on time and do not miss (if you miss more than 16 hours you will not be allowed to test)

Begin a career in real estate with our 84 hr. pre-licensing class. This class includes 80 hours of instruction and a 4 hour exam. We are an approved real estate school with the North Carolina Real Estate Commission. You must pass the class exam with a 75 or high to continue to take the North Carolina Real Estate Exam. Should you get a 65 - 74 you will be allowed to retest one time. If your original score is lower than 65 or you do not pass your retake exam you MUST sit through the class again should you want to test again.

Upcoming Classes:
No scheduled classes.

Post-Licensing
Brokerage Relationships and Responsibilities

You have taken the first step to a new career! Now it's time to continue your journey and take your post licensing. You must take three 30-hour courses to remove the provisional status from your license all three must be taken within 18 months of licensure.

The three courses consist of:

301 - Brokerage Relationships & Responsibilities

302 - Contracts & Closing

303 - License Laws, Rules & Concepts (this course has been renamed and revamp to give you a comprehensive in-depth look into our licensing laws)

Post-licensing courses may be taken in any sequence. However, the Commission recommends that you follow the course number sequence (301, 302, & 303), as course materials were developed with that sequence in mind.

The Current Course is Brokerage Relationships & Responsibilities

Course Description:Broker Relationships and Responsibilities course is one of the three 30-classroom hour courses in the North Carolina mandatory Post-licensing education program. At least one course must be completed annually by North Carolina provisional brokers within three (3) years after initial licensure to remain eligible for active license status. The primary objective of the course is to provide instruction at a level beyond that provided in Pre-licensing courses on topics deemed to be of special importance.

Topics addressed in this course include:

A review of agency relationships in real estate residential and commercial sales and commercial property management transactions,

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 sellers and buyers,

A review of issues associated with transactions in progress when a broker leaves a firm, and

A review of license status and education issues

Final Exam: Schools and instructors are required to utilize end-of-course examinations provided by the Commission in accordance with Commission rules for such examinations. The examination minimum passing standard is 75%. Students must (1) pass the end-of-course examination and (2) satisfactorily complete the prescribed square footage and comparative market analysis (CMA) mandatory homework exercises. (Class time should include introduction of the assignment and review upon completion.) Schools and instructors may, in their discretion, also require completion of in-class or out-of-class graded assignments that may count for up to 25% of a student’s grade for the course. 

Upcoming Classes:
No scheduled classes.
Contracts to Closing

The three courses consist of:

301 - Brokerage Relationships & Responsibilities

302 - Contracts & Closing

303 - License Laws, Rules & Concepts (this course has been renamed and revamp to give you a comprehensive in-depth look into our licensing laws)

Post-licensing courses may be taken in any sequence. However, the Commission recommends that you follow the course number sequence (301, 302, & 303), as course materials were developed with that sequence in mind.

The Current Course is 302 Contracts to Closing

Course Description: The primary objective of the course is to provide instruction at a level beyond that provided in Prelicensing courses on topics deemed to be of special importance. Topics addressed in this course include:

ï‚· selected basic contract law concepts, ï‚· real estate sales contract preparation, ï‚· sales contract procedures, ï‚· buyer’s due diligence, ï‚· closing procedures, ï‚· Real Estate Settlement Procedures Act, ï‚· closing disclosure preparation, ï‚· contracts for deed, options, and ï‚· selected real estate license status and education issues.

Final Exam: Schools and instructors are required to utilize end-of-course examinations provided by the Commission in accordance with Commission rules for such examinations. The examination minimum passing standard is 75%. Students must (1) pass the end-of-course examination and (2) satisfactorily complete the prescribed square footage and comparative market analysis (CMA) mandatory homework exercises. (Class time should include introduction of the assignment and review upon completion.) Schools and instructors may, in their discretion, also require completion of in-class or out-of-class graded assignments that may count for up to 25% of a student’s grade for the course. 

Upcoming Classes:
No scheduled classes.
NC Law, Rules, and Legal Concepts

The three courses consist of:

301 - Brokerage Relationships & Responsibilities

302 - Contracts & Closing

303 - License Laws, Rules & Concepts (this course has been renamed and revamp to give you a comprehensive in-depth look into our licensing laws)

Post-licensing courses may be taken in any sequence. However, the Commission recommends that you follow the course number sequence (301, 302, & 303), as course materials were developed with that sequence in mind.

The current course is 303 License Laws, Rules & Concepts

Course Description: The primary objective of the course is to provide instruction at a level beyond that provided in Pre-licensing courses on topics deemed to be of special importance to licensees. 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 a broker leaves a firm, and a review of license status and education issues.

Final Exam: Schools and instructors are required to utilize end-of-course examinations provided by the Commission in accordance with Commission rules for such examinations. The examination minimum passing standard is 75%. Students must (1) pass the end-of-course examination and (2) satisfactorily complete the prescribed square footage and comparative market analysis (CMA) mandatory homework exercises. (Class time should include introduction of the assignment and review upon completion.) Schools and instructors may, in their discretion, also require completion of in-class or out-of-class graded assignments that may count for up to 25% of a student’s grade for the course. 

Upcoming Classes:
No scheduled classes.

CE
And the Commission Says

A real estate elective course designed to address some of the most commonly asked questions by real estate licensees as published byt eh N.C. Real Estate Commission in their publication titled Real Estate Bulletin from 1970 to the late 1990's but as revised and updated in 2012.

Upcoming Classes:
No scheduled classes.
Art or Agony

A real estate elective course designed to cause each broker to "stop...and...think" about his/her actions or inactions when working with buyers and sellers or landlords and tenants.

Upcoming Classes:
No scheduled classes.
BICUP

This course is for Broker's in Charge or BIC Eligible brokers.  If you are unsure if this is the correct course for you.  Please check your record with NCREC!  No credit will be given by the commission if the wrong cours is taken.  No refund or exchange will be given if the wrong course is taken.

All topics of the GENUP course are included plus:

Broker-in=charge rule – supervisory duties, training, records retention, and advertising (the Broker-in-Charge Guide has been newly updated; see page 6 for details.)

Preferred vendors and exercising caution about marketing service agreements

Requirements to obtain and maintain broker-in-charge status and/or eligibility.

All North Carolina brokers with active status, other than those who are brokers-in-charge or broker-in-charge eligible, must take the four-hour GENUP course during the license year from July 1 to June 30. (An exception is made for newly license brokers in the year in which they receive their license.) Failure to complete the GENUP course will result in the status of a broker’s license being changed from active to expired.

All brokers-in-charge must take the four-hour BICUP course during each license year to maintain their status and/or eligibility.

Upcoming Classes:
No scheduled classes.
For the Good of All The REALTOR Code of Ethics

A real estate elective course designed to address the REALTOR Code of Ethics, including the role of the Grievance and Professional Standards Committees, procuring cause, arbitration and mediation.

Upcoming Classes:
No scheduled classes.
GENUP

Attn: This course is for provisional and non-provisional brokers who are not Brokers in Charge or BIC eligible.  If you are non-provisional and are unsure if you are BIC eligible you may check your record with NCREC to verify.  No CE credit will be given by NCREC if you take the wrong course.  No refund or exchange will be given by Terry Farr Real Estate School, Inc. if you take the wrong course.

Changes to Fair Housing as of Jan 2020

Material facts: well and septic, underground storage tanks, bedrooms and permits

Recent case studies, e.g., well & septic, permits, HVAC repairs

License Law and Commission Rules Update including review of the Working with Real Estate Agents brochure, and new commission resources including videos. (See page 6 of this issue of the Bulletin for the topics of five new videos.)

License and education Issues  etc.

Upcoming Classes:
No scheduled classes.
SYNCHRONOUS - AGENCY: ART OR AGONY

A real estate elective course designed to cause each broker to "stop...and...think" about his/her actions or inactions when working with buyers and sellers or landlords and tenants.

Upcoming Classes:
No scheduled classes.
SYNCHRONOUS - BICUP COURSE

This course is for Broker's in Charge or BIC Eligible brokers.  If you are unsure if this is the correct course for you.  Please check your record with NCREC!  No credit will be given by the commission if the wrong cours is taken.  No refund or exchange will be given if the wrong course is taken.

All topics of the GENUP course are included plus:

Broker-in=charge rule – supervisory duties, training, records retention, and advertising (the Broker-in-Charge Guide has been newly updated; see page 6 for details.)

Preferred vendors and exercising caution about marketing service agreements

Requirements to obtain and maintain broker-in-charge status and/or eligibility.

All North Carolina brokers with active status, other than those who are brokers-in-charge or broker-in-charge eligible, must take the four-hour GENUP course during the license year from July 1 to June 30. (An exception is made for newly license brokers in the year in which they receive their license.) Failure to complete the GENUP course will result in the status of a broker’s license being changed from active to expired.

All brokers-in-charge must take the four-hour BICUP course during each license year to maintain their status and/or eligibility.

Upcoming Classes:
No scheduled classes.
SYNCHRONOUS - FOR THE GOOD OF ALL: REALTOR CODE/ETHICS

A real estate elective course designed to address the REALTOR Code of Ethics, including the role of the Grievance and Professional Standards Committees, procuring cause, arbitration and mediation.

Upcoming Classes:
No scheduled classes.
SYNCHRONOUS - THE CONTRACT MAZE

 "This is a real estate course designed to navigate the intricate details and elusive questions of "When does an offer become a contract?"

Upcoming Classes:
No scheduled classes.
Synchronous And the Commission Says...

A real estate elective course designed to address some of the most commonly asked questions by real estate licensees as published byt eh N.C. Real Estate Commission in their publication titled Real Estate Bulletin from 1970 to the late 1990's but as revised and updated in 2012.

Upcoming Classes:
No scheduled classes.
Synchronous GENUP

The 2020-2021 General Update (GENUP) Course is a four (4) hour course that must be completed by all provisional and non-provisional brokers who are not brokers-in-charge and/or do not have BIC-Eligible status and who wish to renew their licenses on active status on July 1, 2021, for the 2021-2022 license year. Refer to Commission Rules 58A .1702 and 58A .1703 for a full explanation of brokers’ annual continuing education requirements and continuing education required for license activation.

TABLE OF CONTENTS

Section 1: Fair Housing

Section 2: Contracts 25

Section 3: Cybersecurity 43

Section 4: Law and Rule Updates 55

Section 5: Licensing and Education 63

Upcoming Classes:
No scheduled classes.
The Contract Maze

 "This is a real estate course designed to navigate the intricate details and elusive questions of "When does an offer become a contract?"

Upcoming Classes:
No scheduled classes.