1100 W. Ehringhaus Street Elizabeth City, NC January December Dear Applicant:

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1 1100 W. Ehringhaus Street Elizabeth City, NC January December 2008 Dear Applicant: Thank you for requesting information on our School of Real Estate. Our School offers the Broker Prelicensing course and Broker Postlicensing courses throughout the year, with classes scheduled to meet the needs of busy adults. Our Broker Prelicensing course is approved by the North Carolina Real Estate Commission to fulfill the 75-hour classroom prerequisite to qualify a student to take the real estate license examination administered by Pearson VUE. Our Broker Postlicensing courses, also Commission-approved, fulfill the 90-hour Postlicensing requirement to remove the Provisional status from an originally issued Broker license. Our instructors are licensed real estate professionals who are certified by the North Carolina Real Estate Commission. They bring both knowledge and experience to the classroom to enhance our sessions with real life examples to illustrate the practical applications of real estate law and regulations. Enclosed is our school s Information Bulletin, Student Enrollment Contract and a schedule of our classes. Because seating is limited in our classroom, we accept applications on a first come, first serve basis. To reserve your seat, you will need to submit your completed Student Enrollment Contract and full tuition payment to the address printed at the top. Your Student Enrollment Contract and credit card charge authorization form may also be faxed to my attention at (757) We accept Visa, Mastercard, Discover, checks and money orders. No cash please. We encourage students enrolled in our Prelicensing course to get a jump-start on their textbook reading prior to the first class. If you wish to pick up your books in advance, please call us at our telephone number above so that we may have them available for you. If you are interested in a career in real estate sales, please contact our Training & Career Development Director, Dexter Godfrey at He would be delighted to discuss a career with you and answer any of your questions. Again, thank you for your interest in our School and we hope you can join us. If you have any questions about our classes, please don t hesitate to call me at our telephone number above or , elizabeth.burns@longandfoster.com. Sincerely, Elizabeth Burns Registrar

2 INFORMATION BULLETIN BROKER PRE AND POST LICENSING COURSES 1100 W. Ehringhaus Street Elizabeth City, NC March 2008

3 INFORMATION BULLETIN LONG & FOSTER INSTITUTE OF REAL ESTATE Policies for Both Prelicensing and Postlicensing Courses ABOUT OUR SCHOOL The Long & Foster Institute of Real Estate (hereinafter referred to as LFIRE) operates under an official school license issued by the North Carolina Real State Commission. LFIRE is owned and operated by Long & Foster Companies, Inc. The staff of Long & Foster provides the support for the school and its operations. The key purpose of LFIRE is to offer superior Broker prelicensing and postlicensing courses. The Broker prelicensing course provides students the basic knowledge required to qualify to take the license exam to become licensed as a real estate Provisional Broker. Postlicensing courses provide students with the required classes needed for a Provisional Broker to retain his or her license and remove the Provisional status of such licenses. Long & Foster Institute of Real Estate in North Carolina Jacquelyn Thiel, State Director Dexter Godfrey, Training & Career Development Manager Gene Cummings, Lead Instructor Any complaints regarding LFIRE should be directed to: The Education Director North Carolina Real Estate Commission P.O. Box Raleigh, NC Course attendance does not require nor guarantee affiliation with Long & Foster REALTORS. ENTRANCE REQUIREMENTS LFIRE does not discriminate in the admission of students. No student shall be denied admission on the basis of age, sex, race, color, creed, national origin, religious preference, disability or familial status. While there are no age requirements for entrance into LFIRE, the North Carolina Real Estate Commission requires an applicant to be at least eighteen years of age to be approved for licensure. Basic education skills are required for successful completion of the Prelicensing course; LFIRE recommends that a prospective student have a high school diploma or have earned a GED before enrolling.

4 REGISTRATION Full payment is required for prelicensing and postlicensing courses offered by LFIRE no later than the first class. Textbooks and other student materials will be issued only to students who have completed a Student Enrollment Contract and paid the full registration price. Prior to the first class, each student must complete a Student Enrollment Contract approved by the North Carolina Real Estate Commission which sets forth the basic rights and obligations of both LFIRE and the student. ATTENDANCE The North Carolina Real Estate Commission requires each student attend a minimum of 80% of all scheduled classroom hours for each course they enroll. LFIRE encourages students to attend all scheduled sessions in their entirety to fully maximize learning opportunities for successful completion of the course. Attendance will be taken at the beginning of each class session. Late arrivals and time missed will count against the time permitted for absences. A student will not be eligible to sit for the course s final exam if the minimum attendance requirement is not met. LFIRE has no responsibility for providing make-up sessions for any absence. COURSE COMPLETION REQUIREMENTS Students must complete all mandatory classroom and homework assignments, take a mid-term exam and achieve a final exam score of at least 75% to successfully complete the Broker Prelicensing course. In accordance with the North Carolina Real Estate Commission requirement, students must attain an overall course average of 75% or higher in order to receive a Certificate of Completion from LFIRE. The overall course average will be comprised of the following: Classroom/Homework Assignments, Mid-term Exam 25% of overall course average Final Exam 75% of overall course average * *Score of at least 75% on Final Exam is required per NCREC for completion. A student who does not attain a final exam grade of 75%, but scores 67% or better will have the opportunity for one retake of the final course exam. The North Carolina Real Estate Commission requires that all examinations be completed no later than 90 days following the course completion date. A student who does not pass the final course exam and the re-take exam may repeat LFIRE s Broker Prelicensing course one-time within six months of the completion of the initial course for an administrative fee of $99. Successful completion of all mandatory classroom and homework assignments and a course final examination with a passing grade of at least 75% is required for each 30-hour Broker Postlicensing course. A student must also attend at least 80% of the class hours per the guidelines of the North Carolina Real Estate Commission. If a student does not attain a passing grade on the final course exam,

5 he/she will have the opportunity for one re-take exam within 90 days following the course completion date. LFIRE will provide a student the opportunity for the re-take within 7 days of the student s request. A student who does not pass the re-take exam will be required to repeat the entire course at full tuition. Certificates of Completion for all courses will not be issued under any circumstances to any student who has not met the requirement of LFIRE and the North Carolina Real Estate Commission or to any student who owes any payments to LFIRE. TUITION AND FEES The tuition for the Broker Prelicensing course is $359. This fee includes the textbook and all required instructional materials. The tuition for each Postlicensing course is $220. There is no charge for the textbook, however only 1 textbook per student will be provided for all 3 Post-licensing courses. The expense for supplementary supplies such as notebooks, pens/pencils, or calculators are not included in the tuition. Additional expenses also not included in the tuition, but required for licensure are the real estate license application fee (paid directly to the North Carolina Real Estate Commission), the fee for the required criminal record report (paid directly to Carolina Investigative Research, Inc.), nor the licensing examination fee (paid directly to Pearson VUE). LFIRE, however, will provide all of the necessary forms for the application for licensure. Additional study aids and supplemental materials are available for purchase, and are optional. Replacement Certificates of Completion for a course may be obtained from LFIRE for a $5.00 fee. REFUND POLICY Tuition will be fully refunded to any student who provides written notice to LFIRE of his/her intent to withdraw their registration from the Broker Prelicensing course at least 5 workings days prior to the scheduled start date of the course. After that time, but prior to the second class session, and upon written notice of withdrawal of registration, the balance of tuition will be refundable, less a $50. cancellation fee. No refunds will be issued after the second class session, however, a student may request in writing to LFIRE to transfer his/her tuition to another course scheduled to start within 6 months. Refunds of tuition for Broker Postlicensing courses will be made in full upon written notice to LFIRE if received at least 5 working days prior to the scheduled start date of the course. After that time, no refunds will be made. However, upon written request to LFIRE, a student may transfer his/her tuition to another coursed scheduled to start within 6 months. Should LFIRE find it necessary to re-schedule or cancel a scheduled course, all students will have the option of receiving full refunds of all monies paid or transfer monies paid to another scheduled course. Any refund due a student shall be paid within 30 day from receipt of written request.

6 COURSE DESCRIPTIONS Broker Prelicensing Course: This course is approved by the North Carolina Real Estate Commission to fulfill the 75-hour classroom prerequisite to qualify a student to take the real estate license examination. This course offers instruction in the basic principles and practices of real estate including real estate law, brokerage practice, fair housing and ethical practices, financing, closing, property valuation, property management, taxation, real estate mathematics, construction, property insurance, as well as North Carolina real estate law and North Carolina Real Estate Commission rules and guidelines. A course examination will be administered upon a student s completion of all requirements. Upon successful completion of this course and the state real estate license examination, as well as having satisfied all other application requirements including satisfying that applicant possesses the requisite character, a Provisional Broker license will be issued by the North Carolina Real Estate Commission. Broker Postlicensing Courses: These courses are approved by the North Carolina Real Estate Commission to fulfill the 90-hour postlicensing requirement to remove the Provisional status from an originally issued Broker license. Provisional Brokers are required to complete 90 hours of postlicensing education within 3 years from date of original licensure in order to maintain their license. This requirement is comprised of three (3), 30-hour courses which may be taken in any order, however, at least one of the three 30-hour postlicensing courses must be completed during each of the first three years from date of original licensure to maintain active status. All three courses may be completed during the first or second year after date of original licensure. The provisional status of the Broker s license is removed by the North Carolina Real Estate Commission upon completion of all of the courses. Students who enroll in Postlicensing classes must show proof of a current Provisional Broker license issued by the North Carolina Real Estate Commission (or by another state). The three (3) 30-hour classroom postlicensing courses prescribed by the North Carolina Real Estate Commission are: (1) Real Estate Brokerage Relationships and Responsibilities This course reviews agency relationships in real estate transactions and the legal duties required of the real estate agent to clients and customers. Also covered is a step-by-step review and discussion of the functions and responsibilities of a real estate agent when working with buyers and sellers within residential real estate transactions. (2) Real Estate Contracts and Transactions This course reviews basic contract law concepts, the preparation and procedures of a real estate contract, as well as closing procedures and closing statements.

7 (3) Selected Topics This course provides an introduction to commercial real estate brokerage, residential property management, loan fraud issues and fair housing compliance. Also covered are licensing law issues including case studies and procedures for establishing a brokerage firm. Continuing Education Courses: The North Carolina Real Estate Commission requires that all active licensees complete a minimum of 8 hours of continuing education each year. Continuing Education courses are in addition to the required postlicensing courses. Each year, LFIRE provides schedules for the 4-hour NCREC Mandatory Update Course, as well as 4-hour Commission-approved elective courses, required for real estate license renewal. A schedule of classes can be obtained by contacting LFIRE. GENERAL POLICIES 1. The building in which LFIRE classes are held is a non-smoking facility. Smoking is only permitted in the outside designated area. 2. Cell phones, PDAs, laptops, pagers and other electronic devices must be turned off in the classroom. 3. Only silent, hand-held calculators will be permitted in the classroom. A simple calculator is recommended. 4. No electronic recording devices of any kind are allowed in the classroom. 5. No children are allowed to be present in the classroom or building when class is in session. 6. A student who has a disability which requires special accommodation, including the provision of auxiliary aids or services, should contact LFIRE upon enrollment. Advance notice will enable us to better accommodate any special learning needs. 7. If a class is cancelled or delayed due to inclement weather, a message will be posted on our voic after 7:00 a.m. If no cancellation message is on the voic , classes will be held as regularly scheduled. 8. LFIRE classes promote a supportive, respectful learning environment for its students. All students are expected to conduct themselves in a professional and courteous manner. LFIRE reserves the right to dismiss from its classes any student whose behavior dishonors the school and/or its students or is disruptive to the learning process. Dismissal will only be made in circumstances that are deemed to be just cause. No monies will be refunded upon such dismissal.

8 9. LFIRE respects the privacy of our students. Therefore, LFIRE staff will only discuss matters relating to the student, class and/or school directly with the actual student. I certify that the policies and information contained in this bulletin are true and correct and that the Long & Foster Institute of Real Estate will abide by the policies included. Jacquelyn A. Thiel, Director Long & Foster Institute of Real Estate 1100 West Ehringhaus Street Elizabeth City, NC

9 Student Enrollment Contract Last Name First Name M.I. Home Phone Number Home Address Business Phone Number City State Zip Address How did you learn about our school? Special Provisions/Learning Needs? This CONTRACT between the Long & Foster Institute of Real Estate (hereinafter referred to as SCHOOL ) and (hereinafter referred to as STUDENT ), is entered into this day of, 20, and constitutes the complete agreement of these parties which mutually agree as follows: 1. SCHOOL agrees to provide STUDENT the course(s) indicated below in accordance with the requirements prescribed by the North Carolina Real Estate Commission (please check the appropriate course) ( ) Broker Prelicensing Course 75 Hours Course Date to Weeks 1-7: T, W, Th 6:00-9:00 p.m. / Week 8: T, W, Th 6:00-9:00 p.m., Sat 9:00 a.m.-12:00 p.m. * The SCHOOL will provide the STUDENT with the necessary certificate for application to take the North Carolina Real Estate licensing exam upon successful completion of the course. Broker Postlicensing Courses: (Please check the appropriate course) ( ) Broker Relationships & Responsibilities 30 Hours Course Date to ( ) Contracts & Closing 30 Hours Course Date to ( ) Selected Topics 30 Hours Course Date to Week 1: T, W, Th 9:00 a.m.-1:00p.m., Sat 9:00 a.m-4:00 p.m. / Week 2: T,W, Th 9:00 a.m.-1:00 p.m. * *except where otherwise noted on course schedule 2. STUDENT agrees to pay tuition for the course(s) indicated above in the amount of $. Such tuition is to be paid in full no later than the first class session of the course. Refund Policy 1. Tuition will be fully refunded to any student who provides written notice to SCHOOL of his/her intent to withdraw their registration from a course at least five (5) working days prior to the scheduled start date of the course. After that time, but prior to the second class session, tuition will be refundable less a $50. cancellation fee. 2. No refunds will be made after the second class session, however, STUDENT may request in writing to SCHOOL to transfer his/her tuition to another course schedule to start within six (6) months. 3. Should SCHOOL find it necessary to re-schedule or cancel a scheduled course, all students shall have the option of receiving full refunds of all monies paid or transfer monies paid to another scheduled course. SCHOOL and STUDENT mutually agree to abide by the SCHOOL policies described in SCHOOL s Bulletin, a copy of which has been provided to STUDENT. STUDENT LONG & FOSTER INSTITUTE OF REAL ESTATE OFFICIAL

10 2008 Prelicensing Class Schedule 6:00 p.m. to 9:00 p.m. Tuesdays, Wednesdays, Thursdays * 9:00 a.m. - 12:00 Noon Saturday - last class March 25 th May 24 th March 25, 26, 27 April 1, 2, 3, 8, 9, 10, 16 (Wed)*, 17 (Thur)*, 18 (Fri)*, 22, 23, 24, 29, 30 May 1, 6, 7, 8, 20, 21, 22, 24 (Sat.) June 3 rd July 26 th June 3, 4, 5, 10, 11, 12, 17, 18, 19, 24, 25, 26 July 1, 2, 3, 8, 9, 10, 15, 16, 17, 22, 23, 24, 26 (Sat.) August 12 th October 4 th August 12, 13, 14, 19, 20, 21, 26, 27, 28, September 2, 3, 4, 9, 10, 11, 16, 17, 18, 23, 24, 25, 30 October 1, 2, 4 (Sat.) October 21 st December 20 th October 21, 22, 23, 28, 29, 30 November 4, 5, 6, 11, 12, 13, 18, 19, 20 December 2, 3, 4, 9, 10, 11, 16, 17, 18, 20 (Sat.) *except where otherwise noted

11 2008 Postlicensing Class Schedule 9:00 a.m. to 12:00 Noon Tuesdays, Wednesdays, Thursdays * 9:00 a.m. - 12:00 Noon and 1:00 p.m. - 4:00 p.m. Saturday dates April 16 th April 24 th : Brokerage Relationships & Responsibilities April 16 (Wed)*, 17 (Thur)*, 18 (Fri.)*, 19 (Sat.), 22, 23, 24 June 17 th June 26 th : Contracts & Closing June 17, 18, 19, 21 (Sat.), 24, 25, 26 August 19 th August 28 th : Selected Topics August 19, 20, 21, 23 (Sat.), 26, 27, 28 November 4 th November 24 th : Brokerage Relationships & Responsibilities November 4, 5, 6, 8(Sat), 11, 12, 13 *except where otherwise noted

12 Credit Card Payment Authorization One Time Charge Name (please print) Address Phone # ( ) I hereby authorize Long & Foster Institute of Real Estate, Inc. ( LFIRE ) to use my credit card as indicated below. I do not authorize the use of this card for any other purpose. Specific Amount: I authorize Long & Foster Institute of Real Estate, Inc. to charge the amount of $ to my personal credit card as selected below. Please select the card type by circling one of the following: (These are the only cards LFIRE currently accepts.) Card # Expiration Date: Cardholder s Signature Date Changes or specifications to this will not be honored.