Attendance at a new Commission course, Issues and Answers in North Carolina Real Estate Practice, is being required of some brokers who have been sanctioned for violations of the Real Estate Law and Commission rules.
The four-hour course, given in the Commission offices, reviews selected issues which often result in violations of Law and rules. Taught by the Commission Regulatory Affairs Staff, the course covers topics relating to the specific infractions among the brokers attending. A newly developed text covering 15 topics is given to each broker along with a copy of the Real Estate License Law and Commission Rules and the Real Estate Licensing in North Carolina booklet.
Many brokers who have violated the Law or rules have done so unintentionally because of lack of knowledge. The course is designed to help these brokers avoid problems in the future.
The Commission has always emphasized education as the primary tool in regulating the North Carolina real estate brokerage industry. Commonly, brokers who have been sanctioned are required to take one or more courses as a condition when a disciplinary action is approved by the Commission. The required education, when completed, usually earns the broker a reduction in the length and/or level of the sanction.
Topics available for instruction include agency basics, broker compensation, broker-in-charge responsibilities, brokers selling/leasing their own property, conflict of interest, cooperation with the Commission, criminal convictions and disciplinary actions, improper conduct, material facts, mortgage fraud issues, property management basics, real estate license issues, requirement to provide certain documentation, and trust account issues.
This article came from the May 2014-Vol45-1 edition of the bulletin.