The familiar blue and white postcard reminding you to renew your real estate license may already have reached your mailbox, or your reminder email may have arrived in your inbox. Either way, the reminder is your “cue” to visit the Commission’s Web site, www.ncrec.gov, login, and renew your license.
We encourage you to renew early to avoid any oversight which will cause a change in your status on June 30 to expired. The license renewal fee is $45, a $5 increase, and the first increase in more than 10 years.
There are two ways to renew your license: 1) go to the Commission’s Web site on or after May 15 and log into your record using your personal identification number (PIN). Your PIN has been set as the last four digits of your Social Security Number unless you have changed it; or 2) return the blue and white postcard with your check so that it reaches the Commission office prior to the June 30 deadline. Please reference your license number on your check.
Because the June 30 deadline falls on Sunday this year, if mailing your renewal, please allow enough time so that it is received in plenty of time.
The quickest, most efficient way to renew is online using your Visa, MasterCard or Discover card. You will receive an immediate confirmation which you may print out for your records.
The Commission staff updates all licensee records on July 1. If your renewal was not received by the deadline, your record will be updated to reflect your status as expired. You are reminded that no licensee may perform any act or service which requires a real estate license (including the listing, selling, leasing or showing of real estate) while a license is on an expired status.
If you fail to renew by the June 30 deadline, you may reinstate your license by paying a $55 reinstatement fee between July 1 and December 31. Failure to reinstate by December 31 will result in your having to file a new application and fee and obtain a background report. In addition, you may be required to take additional education or pass the license examination.
You may renew prior to completing your continuing education requirements. However, to maintain active status, you must complete eight hours of continuing education consisting of the mandatory Update and one elective by June 10 of each license period.
If you are a broker-in-charge or broker-in-charge eligible, in addition to the Update, you must take the Broker-in-Charge Annual Review course (BICAR) annually. Otherwise, you will lose your BIC eligibility. Brokers-in-charge are also responsible for ensuring that licensees under their supervision have renewed their licenses and completed the proper continuing education.
Changes in Rule A. 0110 require that a broker-in-charge who loses designation or eligibility must 1) first have a license on active status; 2) meet the experience requirements for designation; and, 3) take the 12-hour Broker-in-Charge Course before re-designation. (This course cannot be used as an elective to meet the requirement for active status.)
This article came from the May 2013-Vol44-1 edition of the bulletin.