INTRODUCTION TO THE COLLEGE
The original real estate school, which has now become the Real Estate College of Colorado, Inc., was established in 1978. By consistently providing a wide variety of easy-to-use education formats along with trained coaches for that essential "personal" touch, the Real Estate College of Colorado has maintained its position as a leader in Colorado real estate education for three decades.
APPROVAL AND SCHOOL FACILITIES
The Real Estate College of Colorado, Inc. is approved and regulated by the Division of Private Occupational Schools, Colorado Department of Higher Education. All prelicense courses meet the specific requirements of the State of Colorado to obtain a real estate license. Also all Continuing Education offered by the college are approved by the State of Colorado to fulfill the education requirements of licensees. School facilities and student files are maintained at our administrative office location in Durango. Office space is provided for enrollment or one-on-one study assistance. Also, students have the use of toll-free numbers, fax, and email for contacting coaches for assistance. Continuing education classes are offered by correspondence, online, or held live at various locations across the state.
STATEMENT OF OWNERSHIP
The Real Estate College of Colorado, Inc. is a corporation in good standing with the State of Colorado. The officers of the Real Estate College of Colorado, Inc. are Aaron L. Diem, President; LeRoy R. Diem, Secretary; Ernestine M. Diem, Treasurer.
Registration for correspondence courses may be done in person, by telephone, mail, or online. Attendance at a scheduled classroom program does require pre-registration. An Enrollment Agreement will be completed and tuition paid prior to beginning a course.
PAYMENT OF TUITION AND FEES
Tuition and material fees may be paid in advance or are due and payable on the first course date. On request, a student may split payment into two payments based on the course schedule for which the student enrolls. Each payment is due as scheduled. The College charges a nominal handling fee. Promissory notes are not solicited or accepted. Authenticated VISA, Discover, MasterCards and American Express are accepted. Upon request, the College will invoice a party designated by the student provided; however, the student shall continue to be the primary party responsible for timely tuition payments. Under the Private Occupational Education Act of 1981, the College may and will withhold any earned certification of successful completion until all tuition or material charges are paid in full.
There are no prerequisites for enrolling with the College in the prelicensing program or in continuing education courses, and there are no age requirements affecting admission to the College. However, the Colorado Real Estate Commission cannot issue a real estate license to anyone under the age of 18. The College does not guarantee that a student accepted for enrollment will be permitted to take the state licensing examination or if successful in passing the state exam, that a license will be issued. Prospective students should consult the appropriate regulatory agency regarding any question about eligibility for licensing.
Correspondence students may enroll at any time. Scheduled classroom programs are posted with REALTOR® associations, online, and in the classroom schedule supplement available to prospective students. These are available upon request. When appropriate, a notice of classes is published in the local newspapers. Instructors are available during normal business hours Monday through Friday. When an unexpected closure occurs due to extraordinary conditions such as inclement weather, students will be notified as soon as possible by phone and/or radio, and/or TV who provide closure information as a public service. The College does observe the following holidays: New Year’s Day, Easter, Passover, Memorial Day, July 4th, Labor Day, Rosh Hashanah, Yom Kippur, Thanksgiving and Christmans. Review sessions are available at both school locations by appointment. Please contact the school to schedule. Live prelicense classes are currently not being offered.
Real estate licensing requirements are set by the State of Colorado. A total of 168 classroom hours or the equivalent by correspondence study are required and are as follows:
· 48 hours in Real Estate Law and Practice
· 48 hours in Colorado Contracts and Regulations
· 24 hours in Real Estate Closings
· 8 hours in Trust Accounts and Record Keeping
· 8 hours in Current Legal Issues
· 32 hours in Practical Applications
Students licensed currently or previously in another jurisdiction may have part of this education requirement waived and should consult the Colorado Real Estate Commission, regarding this issue. Attorneys will need 12 hours in Trust Accounts, Record Keeping and Real Estate Closings, (in addition to passing the entire broker’s exam) to become a Colorado broker.
Real Estate Law & Practice: This course covers the basic principals of real estate as it is practiced in the majority of states. Material will cover real estate terms, contract and agency law, real estate valuation, transfer, alienation, finance, government controls and real estate transactions. Tuition: $175.00
Colorado Contracts and Regulations: This course provides students with the information regarding specific Colorado laws and regulations relating to real estate licensing and practice. Students will study the contract forms approved by the Colorado Real Estate Commission and mandatory for use by licensees. Real estate brokerage as practiced in Colorado is presented with particular emphasis on the professional practice of completing standard forms. Tuition: $175.00.
Trust Accounts and Record Keeping: This course reviews specific Colorado requirements for the records a broker must keep and the proper maintenance of trust accounts in which a broker holds money belonging to others. Tuition: $40.00.
Real Estate Closings: This course shows students how to calculate and complete a real estate settlement worksheet and the process of preparing a real estate closing for various types of financing. Tuition: $90.00.
Current Legal Issues: This course reviews recent legal issues, problems and disciplinary matters outlined by the Real Estate Commission. Tuition: $40.00.
Practical Applications: This course focuses on the issues “beyond the classroom” in the practice of real estate. Topics covered include selecting a broker, technology in real estate, and counseling with buyers and sellers. The course also contains personal career planning help to prepare the student for what to expect after obtaining their license. Tuition: $125.00.
Exam Prep: The College offers this course to prepare students for the state licensing examination. This course is in addition to the 168 hours of instruction mandated by state law. There is both a review of the topics covered by the examination and tips on how to take the state exam most effectively. This course is not for credit. This course can make the difference in preparation for and passing the state exam. Tuition: $200.00.
The number of classroom hours is established by law and no absence is considered excused for a classroom session. Students are expected to arrive on time for class with proper materials. If a class is missed, the student will be required to turn in all respective quizzes and exams for that missed class (done on a self-study basis) prior to receiving the certificate of completion for that particular class. Students who are unable to continue classes for medical reasons or severe or personal problems will be required to take a leave of absence until they are able to return to class. Proper documentation will be required to substantiate a student’s withdrawal.
All students enrolled in the prelicense correspondence course are considered to be correspondence or home-study students and therefore classroom attendance is not required.
POSTPONEMENT OF START DATE
Postponement of the start date whether at the request of the school or the student, requires a written agreement signed by the student and the school. The agreement must set forth:
(a) Whether the postponement is for the convenience of the school or student, and;
(b) A deadline for the new start date, beyond which the start date will not be postponed.
If the course is not commenced, or the student fails to attend by the new start date set forth in the agreement, the student will be entitled to an appropriate refund of prepaid tuition and fees within 30 days of the deadline of the new start date set forth in the agreement determined in accordance with the school’s refund policy and all applicable laws and rules concerning the Private Occupational Education Act of 1981.
STANDARD OF PROGRESS
Students are expected to maintain a minimum standard of progress as follows: This Standard of Progress is used as a gauge for normal progress through a course or a series of courses in a program of study. The time periods are used to calculate completion rates for the refund policy described below. Satisfactory progress for all classroom courses is based on attendance at every class session and on grade average for all of the quizzes and passing the final exam given in that course. A satisfactory or “passing” average is 75% or higher. The grading standards of the college for real estate courses are as follows: A=95% to 100%, B=85% to 94%, C=75% to 84%, F=74% or less. Correspondence students must complete each course with a satisfactory grade average and must complete the course within specific time limits. Some lessons include a quiz and each course has a final exam. Sending the answer sheet for each final exam will demonstrate that each course was completed in a timely manner. Correspondence students are expected to study the equivalency of six hours or more per week. Correspondence students must complete the course work within six months of enrollment.
The school maintains a Student Progress Record on each student which contains the scores and dates of each final exam a student turns in to the school. This record is available to the student upon request. Any student who is making unsatisfactory progress in grade average will be notified by mail or in person. If the unsatisfactory performance is not corrected, the student may be terminated from the course or program.
Students who withdraw from classes may be eligible for a refund based on the following. The college will pay: 1) A full refund of all money paid by the student if a prospective student is not accepted by the college; 2) A full refund of tuition and fees paid if a student notified the college of his or her intention not to commence the course within three days of the initial signing of the Enrollment Agreement, provided that training has not started; 3) a full refund of tuition and fees paid if the college discontinues a course or program of study during the period of time within which a student could reasonably have completed the course or program of study as defined in the Standard of Progress, except that this provision shall not apply in the event that the school ceases operation. Except for the conditions stated above, no refund is available for Exam Prep Techniques purchased separately. The college will retain a cancellation charge of 20% of the tuition (but not to exceed $150.00) for real estate courses. This cancellation charge does not apply to the full refund conditions described above. Refunds apply to full tuition and fees after deducting the cancellation charge. There is no refund on materials.
If a student discontinues training or is terminated by the college, the following refund will be made to the student within 30 days of official determination of the termination date, the date on which the college receives written notice of a student’s intention to discontinue training, or the date on which the student violates published attendance policy or correspondence course progress standards. Refunds for prelicense students will be calculated as follows: within first 10%, 90% refund; within 11% to 25%, 75% refund; 26% to 50%, 50% refund; 51% to 75%, 25% refund; after 75% completed no refund. Completion percentages will be determined by the number of classroom sessions attended, the number of correspondence lesson quizzes returned, or number of correspondence lessons which should have been completed beginning at the date of enrollment based on the “Standard of Progress.” The following chart should help to clarify:
Within first 10% of Program (3 weeks or through Chapter 8 of Law and Practice) 90% after cancellation charge
After 10% or within 25% of Program (3 to 8 weeks or completion of Law and Practice) 75% after cancellation charge
After 25% but within first 50% of Program (8 to 14 weeks or completion of Colorado Contracts) 50% after cancellation charge
After 50% but within first 75% of Program (14 to 21 weeks or compl. of 2 of the final four courses) 25% after cancellation charge
After 75% of the Program (21 weeks+) No refund
If state laws or Real Estate Commission policies render courses offered by correspondence obsolete or no longer adequate for licensing, no refund or credit toward other courses will be available more than one year after the date of enrollment.
Enrollment is valid for up six months from the date of enrollment. Courses must be completed within six months; there will be no refund or credit for enrollments delayed over six months. Students who fail to complete the entire course of study within the six months enrollment period may, at the discretion of the School Director, be allowed to continue their enrollment for an additional three months for a re-enrollment fee of $180.00.
Real Estate Continuing Education Courses are not subject to the above-stated refund policy with the exception of Items 1, 2 and 3.
Students are expected to conduct themselves under “accepted rules of conduct.” The following examples are considered unacceptable:
· Disruptive or distracting activities during personal or classroom instruction
· Possession of weapons, illegal drugs, and alcohol of any kind at school facilities
· Arriving late or departing early from scheduled classroom courses
Repeated or gross breaches of this standard shall be grounds for dismissal. A student who is dismissed for misconduct will be readmitted only at the discretion of the School Director. If readmission is denied, the refund policy shall apply.
Any student may be dismissed for violations of rules and regulations of the school, as set forth in school publications. A student also may be withdrawn from classes if he or she does not prepare sufficiently, neglects assignments, or makes unsatisfactory progress. The School Director, after consultation with all parties involved, makes the final decision. The School Director may temporarily suspend a student whose conduct is disruptive or unacceptable to the academic setting. After appropriate counseling, students who demonstrate a genuine desire to learn and conform to school standards of conduct may be allowed to resume attendance. The Director will review each case and decide upon re-admittance.
CREDIT FOR PREVIOUS EDUCATION, TRANING OR EXPERIENCE
No credit is given for partial completion of classes previously taken at another school or for related experience. The College also does not assure students that credits from Real Estate College of Colorado, Inc. will be accepted at any other approved school. It would be the discretion of the Real Estate Commission to accept previous education or experience in place of required hours. Prospective students should contact the Commission directly to determine if this applies to their situation.
A student who successfully completes a full prelicense program (completes every lesson and earns a passing grade in every course) who takes and fails the licensing examination within 30 days following completion of their program, is entitled to retake the full program for up to six months from the completion date without additional cost. A nominal charge will be made for new or updated materials if desired by the student. A student who takes a continuing education course and fails the course exam may retake the course or may study the materials and retake the exam within 30 days at no additional charge.
The Real Estate College of Colorado, Inc. does not discriminate among applicants, participants or employees on the basis of race, color, religion, ethnicity, national origin, age, sex, marital status, sexual orientation or handicap.
PLACEMENT ASSISTANCE AND VETERAN'S TRAINING
There is no employment placement assistance available to students. The College does not have a transfer agreement of attendance with other schools. Training approved for Veteran’s benefits is not available.
This school does not require exhaustion of its internal grievance/appeal process before filing a complaint of any nature including, but not limited to a claim of a deceptive sales or trade practice, with the State of Colorado and through the Division of Private Occupational Schools. Student Complaints should be brought to the attention of the School Director in order to be resolved. If a student complaint cannot be resolved between the student and the school, a student may contact the Colorado Department of Higher Education, Private Occupational School Board, www.state.co.us/dpos
or (303) 894-2960. There is a two-year limitation of Division action on student complaints.