BIC Course Now Open to Brokers

The Commission’s Broker-in-Charge course is now open to any broker (preferably not on provisional status) who wishes to register for it. For the past two years, only individuals who were designated as brokers-in-charge on Commission records were eligible to enroll in the course.

The 12-hour BIC course is taught over two days and is offered only by the Commission.  Class the first day is from 1:00-5:00pm and the second day from 8:30 a.m. to 5:30 p.m. You must take the entire 12 hours at one time to receive four hours of elective continuing education credit. The course is offered monthly in Raleigh and Charlotte and periodically at other locations in the state. You may register for the course at the Commission’s web site, www.ncrec.state.nc.us, under “Course Registration.”

If you are designated a broker-in-charge after April 1, 2006, you must take the BIC course within 120 days of designation unless you had taken the 12-hour course within three years prior to designation and there is no break in service.

If you were a broker-in-charge prior to April 1, 2006, you may transfer offices and be designated a broker-in-charge at a new location. You will not be required to take the course so long as there has not been any lapse in your broker-in-charge status. If a break in status has occurred, then you must meet the current requirements of the law: two years full time brokerage experience within the last five years and take the 12-hour BIC course within 120 days of designation. If you take the course and are not a broker-in-charge and you are subsequently designated a broker-in-charge within three years after you completed it, you will not be required to repeat the class.

Annual Review Course

To remain a broker-in-charge you must take the Broker-in-Charge Annual Review course each year, beginning the first license year after the license year in which you are designated. The four-hour Review course is written by the Commission and taught by its approved Update course instructors.

The Commission’s intent is that the BIC Annual Review course be open only to brokers-in-charge or to former brokers-in-charge who have continuously maintained their eligibility by taking the BIC Annual Review course. A proposed rule change will soon deny any continuing education credit to brokers who enroll in this class who are not brokers-in-charge.

The vast majority of brokers-in-charge in North Carolina were designated prior to the new law and had the predecessor 4.5 hour version of the Broker-in-Charge course. They may never be required to take the 12-hour Broker-in-Charge course so long as they: 1) take the Broker-in-Charge Annual Review course and the mandatory Update course prior to June 10, 2007 and each year thereafter; and 2) pay their $40 renewal fee prior to June 30 each year; and 3) maintain their current broker-in-charge status. Any lapse in their broker-in-charge status or failure to renew their license on time or take the RE Update course or the Broker-in-Charge Annual Review course each year will result in removal as broker-in-charge. To be eligible for re-designation as broker-in-charge, they must satisfy the two-year experience requirement and take the 12-hour course within 120 days of designation.

This article came from the October 2007-Vol38-2 edition of the bulletin.