License Renewal Period Opens May 15; All Licensees Must Renew Online

Reminder notices to renew your real estate license will arrive by email, if you receive your Real Estate Bulletin by email, or in your postal mailbox, if you receive the printed edition. Either way, you must renew your license between May 15 and June 30 to avoid notification in early July that you no longer have a license, as it is expired.

This year, the law requires that you renew online through the Commission’s website, (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)).

Log in to your personal record using your personal identification number (PIN) on or after May 15 to complete the process. Your PIN will be the last four digits of your Social Security number unless you have changed it.

The license renewal fee is $45. When paying online, you may use Visa, MasterCard, or Discover Card. A confirmation of renewal to print will appear on your screen when the process is completed.

Review your email address or addresses while logged in. Real Estate License Law allows you to designate your email address in one of two ways: (1) PRIVATE, meaning it will not be disseminated to anyone and will be used exclusively for communication from the Commission to you; or (2) PUBLIC, meaning it will be provided upon request to the public, including CE course sponsors and others. You may provide both a private and/or public email address upon logging into your record.

All broker license records are updated on July 1 to reflect license status as of that date. If your renewal fee has not reached the Commission by June 30, your license will be expired as of July 1. (Because of the records updating procedure and annual maintenance, the Commission’s website typically is down on July 1 and 2.)

To reinstate an expired license, you must pay a $55 fee between July 1 and December 31. Failure to reinstate the former license by December 31 will result in your having to file a new application and fee, and obtain a criminal background report. You will also be required to take additional education and/or pass the state license examination.

Even if you miss your continuing education, you may still renew and thus keep your license. The deadline for CE is June 10; if incomplete after that date, your license will be renewed on “inactive” status so long as the renewal fee is timely paid.

Brokers who are brokers-in-charge or brokers-in-charge eligible must take the Broker-in-Charge Update Course and one elective by June 10. Failure to take the correct CE or timely renew the license will result in loss of your BIC eligibility. Brokers-in-charge who lose BIC status or eligibility must (1) return the license to active status; (2) meet the experience requirements for 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!

Brokers-in-charge are also responsible for ensuring that licensees under their supervision have renewed their licenses and completed their continuing education and postlicensing education, if applicable, to maintain an active license, i.e., one they may use.

This article came from the May 2015-Vol46-1 edition of the bulletin.