Commission Develops Enhanced BIC, Broker Tracking System

If you are affiliated with more than one firm as a broker-in-charge and/or full broker, you will soon be able to access the records of those multiple affiliations by logging onto the Real Estate Commission’s website.

Under Commission rules, you may be a broker-in-charge at more than one firm if the firms are located at the same physical address.

Until recently, all agents were reflected at the primary firm shown for the broker-in-charge. With the change, you will be correctly shown with the firm with which you are affiliated.

The database for the new Commission tracking system is now being developed based on current licensee records. Completion of this process is expected by mid-summer. The accuracy and completeness of the system will depend upon you fully and timely updating your records when changes occur, as required by Commission rules.

Brokers-in-charge and brokers will benefit primarily from being able to access their records, check them for accuracy, and then update them as needed.

If you are a broker-in-charge, you will be able to ascertain the affiliations of those brokers in your office(s) to better fulfill your administrative responsibilities for firm recordkeeping.

Updating of records is accomplished for the most part through the use of two Commission forms: 2.04 – Broker-in-Charge Declaration and 2.08 – a triple-purpose form that requests activation of a license, notifies of provisional broker supervision, and notifies of broker affiliation.

The Commission’s website, www.ncrec.state.nc.us, has a BIC Only area which allows a broker-in-charge to login using his or her PIN to verify the continuing education credits, post licensing credits and renewal of those they supervise.

This article came from the June 2007-Vol38-1 edition of the bulletin.