To maintain a current license, brokers must renew their license annually between May 15 and June 30. The license of a broker who fails to renew during that period will expire on June 30, and that broker must cease all brokerage activities immediately.
What steps must a broker take to reinstate an expired license? That answer depends on how long the license has been expired.
To reinstate a license expired for less than 6 months:
NOTE: To regain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
To reinstate a license expired for 6 months but no more than 2 years:
-OR-
NOTE: To regain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
To reinstate a license expired for more than 2 years:
NOTE: You will be licensed as a provisional broker and be subject to the 90-hour Postlicensing education program. To gain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
For more information, review Commission Rule 58A .0505 or visit the “Reinstate your License” page on the Commission’s website. You may also contact the Commission’s Education & Licensing Division at LS@ncrec.gov or 919-875-3700.
To maintain a current license, brokers must renew their license annually between May 15 and June 30. The license of a broker who fails to renew during that period will expire on June 30, and that broker must cease all brokerage activities immediately.
What steps must a broker take to reinstate an expired license? That answer depends on how long the license has been expired.
To reinstate a license expired for less than 6 months:
NOTE: To regain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
To reinstate a license expired for 6 months but no more than 2 years:
-OR-
NOTE: To regain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
To reinstate a license expired for more than 2 years:
NOTE: You will be licensed as a provisional broker and be subject to the 90-hour Postlicensing education program. To gain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
For more information, review Commission Rule 58A .0505 or visit the “Reinstate your License” page on the Commission’s website. You may also contact the Commission’s Education & Licensing Division at LS@ncrec.gov or 919-875-3700.
Be sure to renew your license, even if you haven’t completed CE. If you do not renew by June 30, your license will expire.
Following are the most frequently-asked questions regarding license renewal. Also, a video that answers these questions and provides step-by-step renewal instructions is posted in the Commission’s Video Library.
When do I renew?
The annual period for renewal of your real estate license begins at midnight on May 15 and continues until 11:59pm on June 30.
How do I renew?
How much is the renewal fee?
The renewal fee is $45.00. You may pay by Visa, MasterCard, Discover, American Express, or PayPal.
Will I get a receipt?
Yes. A printable confirmation of renewal will appear on your screen when the process is complete.
Will the Commission mail me a new pocket card?
No. A link to download your new digital pocket card will appear on your screen when the process is complete. You may print a copy of the pocket card if you prefer to have a paper copy.
I haven’t completed CE, yet. Can I still renew?
Yes. Be sure to renew your license by June 30, even if you do not complete your continuing education by June 10. If you don’t renew, your license will expire.
Can I pay my renewal fee by check?
No. Per Commission Rule 58A .0503, you must renew online.
Can I call the Commission office and pay by phone?
No. Per Commission Rule 58A .0503, you must renew online.
Can I come into the Commission office and pay in person?
As of May 1, the Commission office is closed to the public due to the COVID-19 crisis. If the health emergency does not improve, we will remain closed to the public. If you have questions about the renewal process, please feel free to email us at ls@ncrec.gov or call us at 919.875.3700.
What will happen if I don’t renew by June 30?
If you do not renew your license online by 11:59pm on June 30, your license will expire. To reinstate an expired license, you must pay a $90 fee between July 1 and December 31. Failure to reinstate the former license by December 31 will result in your having to submit a new application, including application fee and criminal background report. You will also be required to take additional education and/or pass the state license examination. Refer to the “Reinstate your License” page on the Commission’s website (www.ncrec.gov) for detailed information regarding the reinstatement process.
NOTE: If you hold BIC Eligible status and your license expires or changes to inactive status on July 1, you will automatically lose BIC Eligible status and, in turn, BIC designation (if applicable). If that happens, and you wish to regain BIC Eligible status, you must (1) return the license to active status; (2) meet the experience requirements for BIC designation; (3) take the 12-hour Broker-in-Charge Course before re-designation; and (4) complete and submit the Request for BIC Eligible Status and/or Designation form (REC 2.25). Do NOT take the 12- hour BIC Course before your license is on active status! Refer to Rule 58A. 0110 for detailed instructions regarding regaining BIC Eligible status and BIC designation.
To maintain a current license, brokers must renew their license annually between May 15 and June 30. The license of a broker who fails to renew during that period will expire on June 30, and that broker must cease all brokerage activities immediately.
What steps must a broker take to reinstate an expired license? That answer depends on how long the license has been expired.
To reinstate a license expired for less than 6 months:
NOTE: To regain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
To reinstate a license expired for 6 months but no more than 2 years:
-OR-
NOTE: To regain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
To reinstate a license expired for more than 2 years:
NOTE: You will be licensed as a provisional broker and be subject to the 90-hour Postlicensing education program. To gain active status, a License Activation / Affiliation form (REC 2.08) also must be submitted.
For more information, review Commission Rule 58A .0505 or visit the “Reinstate your License” page on the Commission’s website. You may also contact the Commission’s Education & Licensing Division for specific instructions.
The annual period for renewal of your real estate license begins at midnight on May 15 and continues until midnight June 30. If you do not renew by June 30, your license will expire.
Per Commission Rule 58A .0503, you must renew online. To renew online, login to your record on the Commission’s website, www.ncrec.gov, on or after May 15. Your PIN (password) will be the last four digits of your Social Security number unless you have changed it.
You must provide the “Employee Misclassification” disclosure and certification during the renewal process. Additionally, if you are a Broker-in-Charge, you will be required to disclose information regarding your trust account(s) and any criminal convictions or disciplinary actions that have occurred within the previous year, if applicable.
The renewal fee is $45.00. You may pay by Visa, MasterCard, Discover, American Express, or PayPal. A printable confirmation of renewal will appear on your screen when the process is complete.
If your renewal fee has not been received by the Commission by June 30, your license will expire. To reinstate an expired license, you must pay a $90 fee between July 1 and December 31. Failure to reinstate the former license by December 31 will result in your having to submit a new application, including application fee and criminal background report. You will also be required to take additional education and/or pass the state license examination. Refer to the “Reinstate your License” page on the Commission’s website (www.ncrec.gov) for detailed information regarding the reinstatement process.
Be sure to renew your license by June 30, even if you do not complete your continuing education by June 10. By doing so, your license will be changed to inactive status on July 1, rather than expired. Refer to Rule 58A. 1703 for license activation instructions.
NOTE: If you hold BIC Eligible status and your license expires or changes to inactive status on July 1, you will automatically lose BIC Eligible status and, in turn, BIC designation (if applicable). If that happens, and you wish to regain BIC Eligible status, you must (1) return the license to active status; (2) meet the experience requirements for BIC designation; (3) take the 12-hour Broker-in-Charge Course before re-designation; and (4) complete and submit the Request for BIC Eligible Status and/or Designation form(REC 2.25). Do NOT take the 12- hour BIC Course before your license is on active status! Refer to Rule 58A. 0110 for detailed instructions regarding regaining BIC Eligible status and BIC designation.
By Corean E. Hamlin, Director, Education and Licensing Division
The annual period for renewal of your real estate license begins at midnight on May 15 and continues until midnight June 30. If you do not renew by June 30, your license will expire.
Due to new laws and rules, you will have to answer more questions during the license renewal process. All licensees must provide the “Employee Misclassification” disclosure and certification. Additionally, if you are a Broker-in-Charge, you will be required to disclose information regarding your trust account(s) and any criminal convictions or disciplinary actions that have occurred within the previous year, if applicable.
To help you prepare for the new questions, the Commission has created a renewal simulation, which is posted on the Commission’s homepage (www.ncrec.gov). Also, an overview of the renewal process is provided at the end of this article.
The renewal fee is $45.00. Per Commission Rule 58A .0503, you must renew online at www.ncrec.gov. To renew online, login to your record on the Commission’s website, www.ncrec.gov, on or after May 15. Your PIN (password) will be the last four digits of your Social Security number unless you have changed it.
You may pay by Visa, MasterCard, Discover, American Express, or PayPal. A printable confirmation of renewal will appear on your screen when the process is complete.
If your renewal fee has not been received by the Commission by June 30, your license will expire. To reinstate an expired license, you must pay a $90 fee between July 1 and December 31. Failure to reinstate the former license by December 31 will result in your having to submit a new application, including application fee and criminal background report.
You will also be required to take additional education and/or pass the state license examination. Refer to the “Reinstate your License” page on the Commission’s website (www.ncrec.gov) for detailed information regarding the reinstatement process.
Be sure to renew your license even if you do not complete your continuing education by June 10. By doing so, your license will be changed to inactive status on July 1, rather than expired. Refer to Rule 58A. 1703 for license activation instructions.
NOTE: Brokers-in-charge and BIC-eligible brokers whose license statuses change to expired or inactive automatically lose BIC status and/or eligibility. If that happens, a broker who wishes to regain BIC status must (1) return the license to active status; (2) meet the experience requirements for BIC designation; (3) take the 12-hour Broker-in-Charge Course before re-designation; and (4) send the Commission the BIC Declaration Form. Do NOT take the 12-hour BIC Course before your license is on active status! Refer to Rule 58A. 0110(m) for detailed instructions regarding re-designation as BIC.
RENEWAL PROCESS STEPS
For a detailed explanation and preview of these steps, go to the Commission’s homepage (www.ncrec.gov) and click on Renewal Simulation.
Step 1: UPDATE INFORMATION
This step is required for all brokers.
Your license record will be displayed, and you will verify that all information is correct and make changes as needed.
Commission Rule 58A .0103 requires every licensee to maintain current and accurate residence and email addresses and telephone numbers with the Commission.
Step 2: EMPLOYEE MISCLASSIFICATION
This step is required for all brokers.
As required by the NC state legislature in NCGS § 143-765, effective January 1, 2018, in order to renew an occupational license, you must certify that you have read and understand the public notice statement from the Employee Classification Section of the State Industrial Commission and must disclose any investigations for employee misclassification.
Step 3: CRIMINAL CONVICTIONS
This step is required only for BICs. If your license record does not reflect BIC status, this step will not appear.
You will select Yes or No to indicate whether you have been convicted of a misdemeanor or felony or have been disciplined by an occupational licensing agency since your last renewal. If you select Yes for either question, you will be required to indicate whether you have previously reported the violation(s) to the Commission. If you indicate that you have not previously reported the issue, you will be prompted to report the requirement using the Criminal Conviction Disciplinary Action Reporting Form (REC 2.09) upon completion of renewal.
Step 4: TRUST ACCOUNT INFORMATION
This step is required only for BICs. If your license record does not reflect BIC status, this step will not appear.
You will select Yes or No to indicate whether you or any firms where you are designated as BIC maintain trust accounts. If you select Yes you will be required to enter the name(s) of the bank(s) at which the trust account(s) are maintained.
FINAL STEP: PAYMENT
This step is required for all brokers. It will appear as Step #5 for BICs and Step #3 for all other Brokers.
You may pay the $45 renewal fee by Visa, MasterCard, Discover, American Express or PayPal account.
Once you submit your payment, a confirmation page will appear. On the confirmation page, you may click on the Pocket Card button to view/download/print your digital pocket card or you may click on the Receipt button to view/print a receipt* of your renewal transaction.
This article came from the May 2018-Vol49-1 edition of the bulletin.
By Corean E. Hamlin, Director, Education and Licensing
The annual period for renewal of your real estate license begins at midnight on May 15 and continues until June 30. If you do not renew by June 30, your license will expire.
The renewal fee is $45.00. Per Commission Rule 58A .0503, you must renew online at www.ncrec.gov. To renew online, login to your record on the Commission’s website, www.ncrec.gov, on or after May 15. Your PIN (password) will be the last four digits of your Social Security number unless you have changed it. (A broker who does not have the ability to renew online may renew by calling the Commission’s office between 8:30 a.m. and 5:00 p.m., Monday through Friday (919/875-3700).)
You may pay by Visa, MasterCard, Discover, or PayPal. A printable confirmation of renewal will appear on your screen when the process is complete. While logged in, be sure to verify and update all contact information, including address, telephone number, and email address. Note that you may designate your email address as “PRIVATE,” meaning it will be used exclusively for communication from the Commission to you; or “PUBLIC,” meaning it will be provided upon request to the public, including CE course sponsors and others.
If your renewal fee has not been received by the Commission by June 30, your license will expire. To reinstate an expired license, you must pay a $90 fee between July 1 and December 31. Failure to reinstate the former license by December 31 will result in your having to submit a new application, including application fee and criminal background report. You will also be required to take additional education and/or pass the state license examination. Refer to the “Reinstate your License” page on the Commission’s website (www.ncrec.gov) for detailed information regarding the reinstatement process.
Be sure to renew your license even if you do not complete your continuing education by June 10. By doing so, your license will be changed to inactive status on July 1, rather than expired. Refer to Rule 58A. 1703 for license activation instructions.
All broker license records are updated on July 1 to reflect license status as of that date. The Commission’s website will be unavailable on July 1 and 2, due to the annual records maintenance process.
NOTE: Brokers-in-Charge and BIC-Eligible brokers whose license statuses change to expired or inactive automatically lose BIC status and/or eligibility. In such case, a broker who wishes to regain BIC status must (1) return the license to active status; (2) meet the experience requirements for BIC designation; (3) take the 12-hour Broker-in-Charge Course before re-designation; and (4) send the Commission the BIC Declaration Form. Do NOT take the 12-hour BIC Course before your license is on active status! Refer to Rule 58A. 0110(m) for detailed instructions regarding re-designation as BIC.
This article came from the May 2017-Vol48-1 edition of the bulletin.
Fees for broker license reinstatement and license applications will change effective July 1, 2017.
The fee for license reinstatement will be $90 and the fee for both broker and firm license applications will be $100.
This article came from the May 2017-Vol48-1 edition of the bulletin.
The Commission approved rulemaking at its August meeting. The proposed rules shall have an effective date of July 1, 2017, except for rules 21 NCAC 58A .0511 and .0512, which will have an effective date of July 1, 2018. The following is a summary of the proposed amendments and rule adoptions:
Section A .0100 Real Estate Brokers – General Brokerage:
21 NCAC 58A .0101 – Proof of Licensure – The amendments are proposed to allow the use of electronic pocket cards as proof of licensure and to merge the requirements of A .0509, to submit a $5 duplicate license fee, into this Rule.
21 NCAC 58A .0103 – Broker Name and Address – The amendments are proposed to add a requirement that brokers changing their name of record must show legal proof of such name change; to comply with S.L. 2016-100 (SB 124) the Assumed Business Act recently passed by the General Assembly; and to clarify the use of an unlicensed person’s name as a tradename.
21 NCAC 58A .0106 – Deliver of Instruments – The amendments are proposed to clarify a broker’s responsibility to deliver information regarding the identity of current or former tenants to property owner clients.
Section A .0300 – Application for Licensure:
21 NCAC 58A .0302 – Filing and Fees – The amendments are proposed to comply with S.L. 2016-117 (HB 728) that increased the broker’s application fee from $30 to $100.
21 NCAC 58A .0304 – Equivalent Experience Qualifications for Applicants – The amendments are proposed to clarify Prelicensing education waiver requirements.
Section A .0500 – Licensing:
21 NCAC 58A .0502 – Business Entities – The amendments are proposed to clarify that the qualifying broker is affiliated with the firm so that they receive notice if a broker-in-charge were to withdraw their designation and to require brokers to disclose the banking institution where their trust accounts will be held.
21 NCAC 58A .0503 – License Renewal; Penalty for Operating While License Expired – The amendments are proposed to require brokers to disclose the banking institution where their trust accounts are held each time they renew their license and any criminal convictions or disciplinary actions within the previous year.
21 NCAC 58A .0505 – Reinstatement – The amendments are proposed to comply with S.L. 2016-117 (HB 728) that changed a broker’s reinstatement application fee to an amount equal to two times the license renewal fee instead of the previous reinstatement fee of $55 and to clarify the requirements for a broker to reinstate a license.
21 NCAC 58A .0509 – Duplicate License Fee – The amendments are proposed to merge this Rule into A .0101, Proof of Licensure, and to repeal this Rule.
21 NCAC 58A .0511 – Licensing of Persons Licensed in Another Jurisdiction – The amendments are proposed to create a temporary practice permit for military spouses pursuant to N.C.G.S. § 93B-15.1.
21 NCAC 58A .0512 – Death or Incapacity of Sole Proprietor
The adoption of a rule is proposed to create a succession plan if a broker were to become deceased or become incapacitated while serving as a broker-in-charge of a sole proprietorship.
21 NCAC 58A .1905 – Waiver of 90-Hour Postlicensing Education Requirement
The adoption of a rule is proposed to clarify the Postlicensing education waiver requirements.
This article came from the October 2016-Vol47-2 edition of the bulletin.
And the difference is, a broker license is something every individual and business entity needs to perform real estate brokerage services like sales or property management in North Carolina. The broker real estate license for individuals and firms is administered by the Real Estate Commission and must be renewed yearly on or before June 30 through the Commission. For more information on the broker and/or firm license go to the Commission’s website, www.ncrec.gov.
A state privilege license is also required to do certain types of business activities within North Carolina. This license is personal and is not issued in the name of a firm or corporation. Individual real estate brokers are specifically required to obtain a privilege license under NCGS §105-41(a)(8); however, a licensed broker who is also a licensed appraiser is only required to get one privilege license which will cover both activities. The state privilege license is governed by the Department of Revenue and must also be renewed yearly by July 1. There are a few, very limited exemptions from the state privilege license requirement which can be found under NCGS §105-41(b). In order to apply for a privilege license, you must go to the Department of Revenue’s website, http://www.dor.state.nc.us/downloads/privilege.html. Once this state privilege license has been granted, you must pay an annual tax on July 1st. This tax is not prorated and there are penalties for failure to pay.
NCGS §160A-194, effective July 1st, 2015, limited the authority of cities to require an additional license for persons holding a license issued by an occupational licensing board. Brokers should still confirm with their city or county whether any other additional local permits are needed to conduct business in that location. Go to your city or county website for further information.
Remember: Before conducting real estate brokerage services you must: (1) obtain an individual and/or firm license from the NC Real Estate Commission; AND (2) obtain a state privilege license from the NC Department of Revenue. Once you have these licenses, mark your calendar to renew your broker license by June 30 of each year and to renew your privilege license and pay the yearly tax by July 1st.
This article came from the October 2016-Vol47-2 edition of the bulletin.