Over 6,250 licensees have taken the Broker-in-Charge course since its inception in November 2000 through August 30, 2002. Initially the Commission requested that brokers-in-charge who had five years within which to take the class not all rush to attend, as the demand would be too great. While preference still is accorded newly designated brokers-in-charge who must take the course within 120 days, five-year “BICs” are now invited to register for the class (as may any broker) which is offered monthly in Raleigh and Charlotte, bimonthly in Asheville and Greensboro, and every few months in Wilmington, Boone, Greenville and Nags Head.
Licensees receive four hours elective continuing education credit and it satisfies the BIC course requirement for five years. However, licensees should retain the course Certificate of Completion to prove their attendance in case they are designated broker-in-charge within five years, yet are notified by the Commission that they must take the course within 120 days. In that case, the licensee should mail a copy of the Certificate to the Records Division with an explanation that they are exempt from the 120-day requirement.
Lastly, be aware that as of September 1, 2002, licensees who are sole proprietors/ practitioners (i.e. brokers practicing alone) need not declare themselves broker-in-charge unless they either: 1) have associates, or 2) hold trust monies pertaining to brokerage transactions, or 3) advertise or otherwise promote their services as a broker in any manner. Any broker whose license is on active status, but who is not associated with a real estate company (and thus under a broker-in-charge) is viewed as a “sole proprietor” at the moment she/he engages in any activity requiring a real estate license. Salespersons are discouraged from taking the broker-in-charge course until they have their broker’s license.
This article came from the October 2002-Vol33-2 edition of the bulletin.