online education catalog - protrain.hs.llnwd.net catalog... · 4 hours real estate commission...

4155 E Jewell Ave Suite 405

Denver, CO 80222 303-363-9882

Online Education Catalog

Approved and Regulated by the Colorado Department of Higher Education, Private Occupational School Board

Catalog Rev 01/26/2016

Table of Contents

MISSION STATEMENT .................................................................................................................................... 3

SCHOOL OWNERSHIP & FACULTY ............................................................................................................ 3

PRE-REQUISITE FOR ENROLLMENT ......................................................................................................... 3

ENROLLMENT PROCEDURES ...................................................................................................................... 3

PROGRESS POLICY ......................................................................................................................................... 3

SYSTEM FOR SCORING TESTS & REPORTING GRADES ...................................................................... 4

COURSES OFFERED BY COLORADO REAL ESTATE SCHOOL ........................................................... 4

COURSE REQUIREMENTS ............................................................................................................................. 5

MATERIALS REQUIRED................................................................................................................................. 5

COURSE OBJECTIVE ...................................................................................................................................... 5

CURRICULUM ............................................................................................................................................... 5

SERVICE & FEES ........................................................................................................................................... 5

PRIOR CLASSES OR EXPERIENCE ........................................................................................................... 5

TRANSFERABILITY OF CREDIT………………………………………………………………………….5

REFUND POLICY .............................................................................................................................................. 6

POSTPONEMENT POLICY ON-LINE CORRESPONDENCE…………………………………….............7

STUDENT GRIEVANCE PROCEDURE……………………….……………………………………........…..7

FILING COMPLAINTS ………………………………………….……………………………………........….7

PLACEMENT ASSISTANCE ............................................................................................................................ 8

ATTENDANCE POLICY ................................................................................................................................... 8

CONDUCT AND TERMINATION POLICY ................................................................................................... 8

DESCRIPTION OF FACILITIES ..................................................................................................................... 8

NOW YOU HAVE COMPLETED THE COURSE, WHAT NEXT ............................................................... 8

SCHEDULING THE EXAM ........................................................................................................................... 8

SPECIAL SERVICES ..................................................................................................................................... 8

CHANGING AN EXAMINATION DATE .................................................................................................... 8

TAKING THE EXAMINATION .................................................................................................................... 9

TEST TOPICS .................................................................................................................................................10

NOW YOU HAVE PASSED THE TEST - WHAT NEXT .............................................................................11

SELECTING A COMPANY ..........................................................................................................................11

LICENSING PROCEDURES ........................................................................................................................12

MISSION STATEMENT

The mission of Colorado Real Estate School is to provide quality user friendly on-line and

distance learning education for real estate that meets the needs of students and real estate

professionals. Our goal is to be the premier on-line education provider.

SCHOOL OWNERSHIP & FACULTY

Jon Farnlof founder of Colorado Real Estate School has more than twenty-five years’

experience in real estate and real estate education. Our faculty consists of licensed real estate

agents who are credentialed instructors with considerable knowledge of the real estate

industry. An administrative coordinator is available to answer questions Monday through

Friday 9:00 A.M. to 4:30 P.M. The school is licensed by the Colorado Department of Higher

Education, Private Occupational School Board; our programs are approved by the Colorado

Division of Real Estate.

PRE-REQUISITE FOR ENROLLMENT

The state of Colorado requires applicants for a real estate license to be eighteen years of age,

but there are no restrictions on enrolling in the course.

The school does not discriminate based on race or color, sex, religion, ethnic or national

origin.

ENROLLMENT PROCEDURES

On-line and independent study enrollment may be completed by paying the full cost of $399

for the Basic Course: $499.00 for the Enhanced Course, or $249.00 and two payments of

$150.00; $599 for the Superior Course, or $349 and two payments of $150. This price for all

courses includes all textbooks, materials, and our exam prep. Colorado Real Estate School

accepts checks, Visa, or MasterCard. A $30.00 service charge will be assessed upon the

return of any check. A certificate of completion and a letter of eligibility will not be

issued until tuition is paid in full. Enrollments can be taken online at any time.

PROGRESS POLICY

All students must pass Colorado Real Estate School exams with a grade point average of

80% prior to the issuance of the completion certificate and the letter of eligibility. The

testing to achieve the 80% will be periodic tests on current classes and final examinations to

assure the student’s competency in all areas of real estate required by the state of Colorado.

Students will have multiple opportunities to pass the final exams or may be required to retake

some of the course at no additional cost throughout the period of their enrollment.

A student’s progress will be considered unsatisfactory when the student is not progressing at

a rate that will allow them to complete the course within the course parameters. If the student

has not completed the course within the course parameters, the student may petition the

school for an extension. Course completion parameters are as follows; a course of less than

23 (twenty-three) hours must be completed within 30 (thirty) days from date of enrollment; a

course of 24 (twenty-four) to 59 (fifty-nine) must be completed within 6 (six) months of date

of enrollment; a course of 60 (sixty) hours and more must be completed within one year of

date of enrollment. The only exception is the Basic Pre-licensing course which has a limit of

8 (eight) months from date of enrollment.

Failure to complete a course within the allotted time limits will result in expiration and the

student must request in writing to be reinstated into the program and pay the appropriate fee.

An extension may be requested within thirty days of expiration in accordance with the

following fee schedule: any course that is 24-credit hours or more will be charged $75 for a

six-month extension or $100 for a 12-month extension. Courses between 12 and 23 credit

hours can be extended for $50 for 6 months. Courses 11 credit hours or less may be

extended at the rate of $25 for 6 months.

Any expired course beyond the 30-day extension eligibility period will require reinstatement.

The cost of reinstatement shall be $150 plus the cost of books and materials if applicable.

The reinstated access shall be for the equivalent timeframe of the original enrollment. The

student may be required to take all classes a second time.

The Colorado Real Estate Commission does not permit the taking of more than eight hours of

educational credit per twenty-four-hour time period.

SYSTEM FOR SCORING TESTS & REPORTING GRADES

Tests results will be immediately available and students will be able to monitor their

progress. Explanations of correct answers will be provided to students who have had a

minimum score of 50% to help them understand the concept. Students who do not pass can

retake the test after one hour after reviewing the course material.

COURSES OFFERED BY COLORADO REAL ESTATE SCHOOL

168 Hours Real Estate Pre-Licensing Course $399 to $599

24 Hours Real Estate Broker Administration Course $199

4 Hours Real Estate Commission Mandatory Update Course $ 35

2, 3 & 4 Hour Real Estate Continuing Education Electives $ 20 - 40

2, 3 & 4 Hour Community Association Manager Continuing Ed Electives $ 20 - 40

12 Hours Real Estate Broker Class for Attorneys $199

4+ Hours Real Estate Exam Preparation $ 69

120 Hours Salespersons from Other States Course $349

72 Hours Colorado Contracts and Closings Course $299

24 Hours Community Association Manager Course $399

COURSE REQUIREMENTS

For a student to take the final exam they must have completed 100% of all class work

including tests and exercises. The school will not issue a letter of eligibility or REC-33 until

such time as the student has completed all of the required courses with satisfactory grades.

Courseware is enhanced with practical exercises. The school provides interactive training

while using the latest in computer teaching techniques and equipment. Students will be

expected to complete an evaluation of the course and instructors at completion of the course.

All instructors are licensed real estate agents and are required to have a teaching and training

background. Instructors are evaluated regularly by the Director of the School.

MATERIALS REQUIRED

A computer with access to the internet is required and a basic calculator will be required to

complete the math problems.

168 CREDIT HOUR PRE-LICENSE COURSE OBJECTIVE

The pre-licensing course objective is to prepare students to be eligible to sit for the state real

estate broker exam. The on-line activities give a broad view of real estate and provide the

necessary information to be eligible to sit for the state real estate exam.

CURRICULUM

The pre-licensing program consists of forty-eight hours of Real Estate Law and

Practice, forty-eight hours of Colorado Contracts and Regulations, eight hours of

Trust Accounts and Record Keeping, eight hours of Current Legal Issues, twenty-four

hours of Real Estate Closings, and thirty-two hours of Practical Applications.

SERVICE & FEES

The cost of the pre-licensing course including books and materials is offered at

$399 to $599, payable at the time of enrollment.

PRIOR CLASSES OR EXPERIENCE

Credit will not be given for courses taken at other schools. Industry related

experience cannot be used in lieu of any of the required courses. If prior classes were

taken at the Colorado Real Estate School credit may be given for the completed

classes.

TRANSFERABILITY OF CREDIT

Colorado Real Estate School does not guarantee the transferability of its credits to

any other institution unless there is a written agreement with another institution.

REFUND POLICY

1. Any student not accepted by Colorado Real Estate School will receive a full refund.

2. A full refund of tuition and fees if student cancels the enrollment and returns all

provided materials in new condition within three (3) business days of the date of

enrollment, providing the student has not started training, and the school receives

notice no later than midnight of the third business day following enrollment. All

materials must be returned to the school in new condition or the student will be

charged a maximum of $100 for replacement of books, materials and shipping.

3. A full refund of tuition and fees if student terminates after three business days

following the date of enrollment but prior to starting classes minus a $150

cancellation fee or 25% of the contract price whichever is less. The student will be

charged a fee of up to $100 for replacement of provided books and materials.

4. A full refund of tuition and fees in the event the school discontinues a course or

program of education during a period of time within which a student could have

reasonably completed the same, except that this provision shall not apply in the event

the school ceases operation.

5. All refunds will be made within 30 days from the date of termination. The official

date of termination or withdrawal of a student shall be determined in the following

manner:

a. The date on which the school receives written or emailed notice of the

student’s intention to discontinue the training program; or

b. The date on which the student violates published school policy, which

provides for termination.

c. Should a student fail to return from an excused leave of absence, the effective

date of termination for a student on an extended leave of absence or a leave

of absence is the earlier of the date the school determines the student is not

returning or the day following the expected return date.

6. NO REFUND will be issued if the student’s enrollment period has reached and/or

exceeded the course expiration date.

7. Should a student terminate training after they have begun attending classes the refund

will be based on the following considerations:

a. A student terminating training prior to the completion of 10% of the program

will be issued no certificate; the student shall be entitled to a refund of 90%

of tuition exclusive of books, and materials and minus a maximum

cancellation charge of $150 or 25% of the contract price whichever is less.

b. A student terminating training after 10% but within the first 25% of the

program will be issued no certificate; the student shall be entitled to a refund

of 75% of tuition exclusive of books, and materials and minus a maximum


c. A student terminating training after 25% but within the first 50% of the




d. A student terminating training after 50% but within the first 75% of the




e. A student terminating training after 75% but prior to completion of the

program will be issued no certificate and shall not be entitled to any refund.

8. All training must be completed within the time frame established by the school.

9. The policy for granting credit for previous training shall not impact the refund policy.

POSTPONEMENT POLICY

Postponement of a starting date, whether by the student or the school, requires a written

agreement signed by the student and the school. The agreement must set forth:

1. Whether the postponement is for the convenience of the school or the student.

2. A deadline for the new start date, beyond which the start date will not

be postponed.

If the course is not commenced, or if the student fails to attend by the new start date set

forth in the agreement, the student will be entitled to a refund exclusive of books and

materials less the cancellation fee as determined in accordance with the school’s refund

policy and all applicable laws and rules concerning the Private Occupational Education Act

of 1981.

STUDENT GRIEVANCE PROCEDURE

Students may communicate concerns with the Director of the School by sending an email to

[email protected].

FILING COMPLAINTS

Students may file complaints online (www.highered.colorado.gov/dpos) with the Division of

Private Occupational Schools, 303-862-300. To file a complaint, the student must file within

the statutory time limit of two years from completion of training or withdrawing from

program.

http://www.state.co.us/dpos

PLACEMENT ASSISTANCE

Colorado Real Estate School does not provide placement assistance. We do provide access

to a third party internet information service, Realty Connection, that provides students with

information about brokerage firms looking for new associates. We are happy to provide

counseling and answer any questions a student might have regarding a career in real estate.

ATTENDANCE POLICY

A leave of absence must be requested via e-mail or written communication addressed to the

Director of Education. Leave of absence requests will be evaluated and decided on a case by

case basis.

CONDUCT AND TERMINATION POLICY

All students are expected to act maturely and are required to respect other students, administration

and faculty members. Possession of weapons, illegal drugs, and alcohol of any kind are not allowed

at any time on school property. Any violation of school policies may result in permanent dismissal

from school.

DESCRIPTION OF FACILITIES

Colorado Real Estate School’s web site is: www.CRESchool.com and offices are located at

4155 E Jewell Ave, Ste. 405, Denver, CO 80222.

NOW YOU HAVE COMPLETED THE COURSE, WHAT NEXT?

SCHEDULING THE STATE LICENSING EXAM

Schedule the exam through PSIEXAMS.COM. Make the reservation 1 ½ weeks prior

to the date you want to take the exam. The examination fee is $90.00. This fee must

be paid at the time the reservation is made by credit card or debit card. Payment will

not be accepted at the assessment center. Examination fees are non-refundable and

non-transferable unless the candidate contacts the exam provider, PSI, 48 hours in

advance.

PSI will ask you for your social security number and the school code.

The school code is “2338”

Arrive at testing site 30 minutes prior to your appointment with two forms of

identification and a copy of your REC-33 graduation certificate (provided by the

school upon course completion).

SPECIAL SERVICES

If you have a disabling condition, you may ask for special testing services.

Verification must be given from a professional who is qualified to diagnose and

document the disability. For additional information concerning the ADA

arrangements please call PSI, Inc. at 1-800-733-9267.

CHANGING AN EXAMINATION DATE

If you are unable to attend the examination on the day you had scheduled you may

reapply by contacting PSI, Inc. and requesting a new date. Transfer of fees made

from your previously scheduled test will be made as follows.

1. If you call two business days or more prior to your test date, you will be

permitted to transfer 100% of your fees to a new date. No penalty charge will

be assessed.

2. If you call on the date of your scheduled test or later fees will not be

transferred to another date.

Please check with PSI as this information may change.

Candidates may be excused for the following reasons:

Illness of the candidate or that of their immediate family

Death in the immediate family

Disabling traffic accident

Court appearance or jury duty

Military duty

Weather emergency

TAKING THE STATE PRE-LICENSE EXAM

You will need two forms of identification; one must be a picture identification, i.e.,

passport or driver’s license. You will need the confirmation number that they gave

you when you made your reservation. You must have a letter of eligibility (REC 33)

from the school to take the exam. If you are missing any of these items, you may be

denied admission to take the examination.

Familiarize yourself with the computer that you will be taking the test on. Review the

short tutorial which does not count against your time. There are two parts to the

exam: the national portion, and the state portion. You will be given two hours for the

national part and one hour and fifty minutes for the state part.

There are eighty questions on the national portion and seventy-four questions on the

state portion. You may have more questions than just stated but they are test

questions for future exams, they do not count against your score. All questions are

multiple choice.

You must score 75% on the national portion of the exam and 72% on the state portion

of the exam. If you pass one portion and not the other, you will be required to retake

only that portion of the exam that you did not pass.

TEST TOPICS

National:

1. Property Ownership – Classes of property, land characteristics, property

descriptions, encumbrances, types of ownership

6% National

2. Land use controls & regulations – private controls, public controls based on

police power, government rights in lands

6% National

3. Valuations & market analysis – value, methods of estimating value,

competitive market analysis, appraisals

9% National

4. Financing – general concepts, types of loans, sources of money, government

programs, mortgages, deeds of trust, financing & credit laws

9% National

5. Laws of agency – law, definition, types of agency agreements, agency duties,

disclosure of agency

14% National

6. Mandated disclosures – material facts, property condition disclosure

10% National

7. Contracts – Contract law, offers purchase agreements, counteroffers, leases,

agreement cancellations, agreement termination,

13% National

8. Transfer of property – title insurance, deeds, escrow or closing, tax aspects,

special processes (probate, foreclosure)

7% National

9. Practice of Real Estate – Fair housing laws, ADFA, advertising and

misrepresentation, agent supervision, ethical issues, broker salesperson

agreements

14% National

10. Real estate calculations – property tax, mortgage calculations, general math

concepts

6% National

11. Specialty areas – property management, subdivisions, commercial property,

income property, business opportunities

6% National

State:

1. Brokerage relationships – Agents, designated brokers, transaction brokerage,

agents, designated brokers

15% State

2. Duties of Real Estate Commission – General powers, Investigations, hearings,

criminal violations, license law violations

3% State

3. Licensing requirements – types of licenses, acts requiring a license, license

maintenance, license qualifications and exemptions, E & O insurance, license

renewal, suspension inactive, CE, expiration & changes

4% State

4. Requirements governing the activities of licensees – advertising, trade names,

employer/employee relationships, office policy requirements, commissions,

rebates, referrals, handling of documents, listings, practice of law, unlicensed

personal assistants, rule E-13, disclosure of conflict of interest

13% State

5. Additional topics – property management, surface, subsurface & water rights,

Colorado taxes, mortgage brokers, Colorado Fair Housing Act, redemption &

foreclosure processes, homestead exemption, statutory power of attorney

12% State

6. Colorado forms and contracts – Listing contract, Contract to Buy & Sell, deeds

of trust, promissory notes, rule F, disclosure documents, addenda to contracts,

counterproposal form

27% State

7. Record Keeping and Trust Accounts – transaction recordkeeping, trust account

requirements, delivery of funds

8% State

8. Closing and settlements – Proration, closing instructions, closing documents,

closing responsibilities, buyer and seller charges

18% State

NOW YOU HAVE PASSED THE TEST - WHAT NEXT

SELECTING A COMPANY

1. Look for a company that provides training and support.

2. Interview with several companies before making your decision.

3. The commission split should not be your deciding factor.

4. Is the company an aggressive advertiser?

5. Look for a company with the latest technology.

LICENSING PROCEDURES

1. You must make application through an employing broker within 365 days of

passing the state exam.

2. You will need to purchase E & O Insurance (speak to your Employing Broker

before purchase).

3. You must submit fingerprints to The Division of Real Estate for a background

check.

4. You must provide payment of application fee at time of application.

5. Submit application to the Real Estate Commission via the Division of Real

Estate online license website at https://apps.colorado.gov/dre/licensing/

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