One Extra Point On The North Carolina Real Estate Exam In Asheville
In the North Carolina Real Estate Broker Pre Licensing Course Syllabus, the commission defines three levels of understanding required for a North Carolina real estate exam applicant.
The first level of understanding is recall. This requires the student to possess a basic level of knowledge sufficient to recall, recognize, identify, list, describe definitions of common words. basic facts and basic procedures.
You either know the definition of a contract, or you don’t. The second level of understanding described in the syllabus is application. This requires the student to possess a level of understanding of the topic that is sufficient to explain, discuss, interpret, restate, summarize and apply facts, principles and procedures and how they relate to real estate and brokerage practice.
Understanding Regulation Z would be an example of level two. The real estate student should be able to look at a real estate advertisement with financing information in it and ascertain if the ad has “trigger words” in it. Is this ad a violation of Regulation Z?
The third level of understanding is analysis. This requires the student to possess a substantial working knowledge and understanding of the topic sufficient to compose, analyze, contrast, relevant facts, principles and procedures in a variety of common factual situations likely to be encountered in real estate practice.
An example of this is on page 39 of the North Carolina Real Estate Broker Prelicensing Course Syllabus. Let me interrupt myself and tell you that you need to read the syllabus for the course you are taking. We sell these to our students for five dollars . You can download it free at the North Carolina Real Estate Commission’s website. It costs us $4.89 per book to print it. If you want a printed copy, mail us a five dollar bill and a self addressed stamped 8.5 inch by 11 inch envelope. We will mail you one. Our address is P.O. Box 403 Tryon, N.C. 28782.
As I was saying, the syllabus says that the Sales Comparison Approach to appraising requires a level three understanding. An example of level three analysis is a student’s understanding of this process. We teach in class that Mr. Appraiser determines the value of the subject house by comparing the subject house to recent similar sales in the neighborhood. If you are not exactly sure that you understand this including how Mr. Appraiser knows what a fireplace is worth, click here to read more about it.
The North Carolina Real Estate Commission wants to know that you understand this thoroughly, level three.
If you are soon taking the North Carolina real estate course, get yourself a copy of the syllabus. There is also a book which is a big help in the process of getting your North Carolina real estate license: “Real Estate Licensing in North Carolina”. The book is available as a free download from the NCREC. Here is a link to my video about that.
If you are anywhere near Hendersonville, North Carolina, First Real Estate School should be your first choice for a real estate school. Call us at 828 440 1064.