Real estate schools fail to meet commission standards
SETTING THE HOUSE RULES?: North Carolina’s real estate schools aren’t living up to standards set by the state’s real estate commission.
By Josh Kaib | WatchdogWire.com
North Carolina’s real estate schools aren’t living up to the standards set by the state’s real estate commission, a document obtained by Watchdog Wire shows.
The report, “Real Estate License Examination Performance Summary Report by School,” shows the percentage of students at each real estate school who passed the state real estate exam.
The data is from July 2013 through June 2014 and includes data from students who took the exam for the first time and did not currently hold a real estate license.
The commission sets a passing rate of 70 percent as the standard for real estate schools and reserves the right to revoke an instructor’s license if it falls under that mark. Over three quarters of private real estate schools failed to meet the standard in the time period covered by the report.
The largest school in the state, JY Monk Real Estate School, had a passing rate of just 52 percent. Its broker pre-licensing course costs $439 according to its website.
The second largest school, Superior School of Real Estate, had a passing rate above the standard at 73 percent. North Carolina Real Estate Commission member Vic Knight is an instructor at that school, though the school’s website says he is teaching continuing education courses. The third largest school, HPW Real Estate School, has a passing rate below the standard at 62 percent. The pre-licensing courses at these schools cost $424 and $399, respectively.