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.