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License Renewal Period is May 15-June 30
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.
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?
- Go the Commission’s homepage, www.ncrec.gov.
- Click on Renew My Broker License.
- Enter your license number and PIN (password). Your PIN will be the last four digits of your Social Security number unless you have changed it.
- Verify your contact information, and update information if needed.
- Provide the “Employee Misclassification” disclosure and certification.
- 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.
- Pay the $45 renewal fee by Visa, MasterCard, Discover, American Express, or PayPal.
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?
The Commission office is currently closed to the public due to the COVID-19 crisis. 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.
How to check your CE record
Did you know that you can check your CE record at any time on the Commission’s website?
Your CE record is part of your license record. To access it:
- go to www.ncrec.gov;
- click on Licensing;
- click on Licensee Login;
- enter your License Number and your Password (your Password is the last four digits of your SSN if you have not changed it); and
- click on Login.
After you log in, you will see the Licensees menu. Click on CE License Information.
At the top of the CE page, you will see “Current Update Hours” followed by a 0 (zero) or a 4 (four). A 4 (four) means you have completed an Update course for the current period. A 0 (zero) means you have NOT yet completed a course, and you need to do so by June 10.
Next, you will see “Current Elective Hours” followed by a 0 (zero) or a 4 (four). A 4 (four) means you have completed an elective course for the current period. A 0 (zero) means you have NOT yet completed a course, and you need to do so by June 10.
Also provided in your CE record is a full listing of the courses you have completed and the dates on which you completed them.
DO YOU HAVE BIC ELIGIBLE STATUS? If so, you need to take the BICUP (rather than the GENUP) course if you wish to maintain BIC Eligible status. To determine whether you have BIC Eligible status, go back to the Licensees menu in your license record. If you see a link for “Print BIC Eligible Document,” then you have BIC Eligible status. If that option does not appear, you do not have BIC Eligible status and must take the GENUP course.
For more information about your license record, contact the Commission’s Education and Licensing Division at 919.875.3700 or ls@ncrec.gov.
Updated Investment Policy – Investment in MDIs
As part of its commitment to racial equity, the Commission has updated its internal Investment Policy to provide that a significant portion of its own funds are deposited in minority-owned depository institutions (MDIs).
MDIs are defined by the FDIC as institutions where (1) 51% or more of the voting stock is owned by minority individuals, or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership. The term “minority” is defined as any “Black American, Asian American, Hispanic American or Native American.”
Under the new policy, Commission funds are deposited in U.S. financial institutions where they are either FDIC insured, regulated by the Office of the Controller of Currency or the Federal Reserve, or collateralized in accordance with guidance issued by the NC Department of State Treasurer. This ensures that the funds are protected at all times. The policy sets out target goals for the Commission’s funds, including certain North Carolina institutions and MDIs. The target range for MDIs is 20 – 40 %. In other words, the Commission seeks to keep between 20 and 40% of its funds in minority-owned institutions at all times, with a preference for institutions in North Carolina or the Southeast region.
Appearances
Steve Fussell, Chief Consumer Protection Officer, spoke at Weaver Street Realty’s Sales Meeting on April 7.
Sheryl Graham, Consumer Protection Officer, spoke at Realty Executives of Hickory’s Agent Training on April 8.
Sheryl Graham, Consumer Protection Officer, spoke at Salisbury Rowan Association of REALTORS’s Are You Prepared Panel on April 22.
Disciplinary Actions
CHARLOTTE BAUGHER (Raleigh) – The Commission accepted the voluntary surrender of the broker license of Ms. Baugher effective March 17, 2021. The Commission dismissed without prejudice allegations that Ms. Baugher violated provisions of the Real Estate License Law and Commission rules. Ms. Baugher neither admitted nor denied misconduct.
YU PEI CHOOI (Cary) – The Commission accepted the voluntary surrender of the broker license of Ms. Chooi effective April 21, 2021. The Commission dismissed without prejudice allegations that Ms. Chooi violated provisions of the Real Estate License Law and Commission rules. Ms. Chooi neither admitted nor denied misconduct.
C MILLER PROPERTIES INC. (Hickory) – The Commission accepted the voluntary surrender of the firm license of C. Miller Properties effective March 17, 2021. The Commission dismissed without prejudice allegations that C. Miller Properties violated provisions of the Real Estate License Law and Commission rules. C. Miller Properties neither admitted nor denied misconduct.
GATEWAY REALTY SERVICES (Cary) – The Commission accepted the voluntary surrender of the firm license of Gateway Realty Services effective April 21, 2021. The Commission dismissed without prejudice allegations that Gateway Realty Services violated provisions of the Real Estate License Law and Commission rules. Gateway Realty Services neither admitted nor denied misconduct.
ROBERT C. MILLER (Hickory) – The Commission accepted the voluntary surrender of the broker license of Mr. Miller effective March 17, 2021. The Commission dismissed without prejudice allegations that Mr. Miller violated provisions of the Real Estate License Law and Commission rules. Mr. Miller neither admitted nor denied misconduct.
SANDRA C. MOORE (Hickory) – The Commission accepted the voluntary surrender of the broker license of Ms. Moore effective March 17, 2021. The Commission dismissed without prejudice allegations that Ms. Moore violated provisions of the Real Estate License Law and Commission rules. Ms. Moore neither admitted nor denied misconduct.
ANNA M. PAPP (Cary) – The Commission accepted the voluntary surrender of the broker license of Ms. Papp effective March 17, 2021. The Commission dismissed without prejudice allegations that Ms. Papp violated provisions of the Real Estate License Law and Commission rules. Ms. Papp neither admitted nor denied misconduct.
BEVERLY D. OSBORNE (Rock Hill, SC) – Following a hearing, the Commission permanently revoked the broker license of Ms. Osborne effective March 16, 2021. The Commission found that Ms. Osborne failed to self-report her South Carolina real estate license revocation and to communicate with Commission staff.
GROVER F SHUGART JR (Winston Salem) – The Commission accepted the voluntary surrender of the broker license of Mr. Shugart Jr. effective March 17, 2021. The Commission dismissed without prejudice allegations that Mr. Shugart violated provisions of the Real Estate License Law and Commission rules. Mr. Shugart neither admitted nor denied misconduct.
SHUGART MANAGEMENT (Winston Salem) – The Commission accepted the voluntary surrender of the firm license of Shugart Management effective March 17, 2021. The Commission dismissed without prejudice allegations that Shugart Management violated provisions of the Real Estate License Law and Commission rules. Shugart Management neither admitted nor denied misconduct.
OLUREMILAKUR WILLIAMS (Raleigh) – The Commission accepted the voluntary surrender of the broker license of Mr. Williams effective April 21, 2021. The Commission dismissed without prejudice allegations that Mr. Williams violated provisions of the Real Estate License Law and Commission rules. Mr. Williams neither admitted nor denied misconduct.
NEW Working With Real Estate Agents Disclosure Is Available
In January 2020, the Consumer Federation of America (“CFA”) published a report entitled, “Why Required Real Estate Agent Disclosures about Representation Fail and How They Can Be Improved.” The report contains a list of recommendations for improving agency disclosure forms.
The Commission’s Working With Real Estate Agents brochure has been used for approximately 25 years. Although it contains good information, changes in technology, communication methods, and the faster pace of real estate transactions have made its format less user friendly.
The Commission has created a new disclosure form (“Working With Real Estate Agents Disclosure”) which will make agency disclosure quicker and easier for brokers and more understandable for buyers and sellers. The form is just two pages in length, with one page dedicated to sellers and one page dedicated to buyers. A broker explaining agency to a seller need only review the seller side of the form; likewise, a broker disclosing agency relationships to a buyer need only review the buyer side.
The new form replaces the old Working With Real Estate Agents brochure as the form that brokers must review with prospective buyers and sellers at first substantial contact. The new disclosure form is now available on the Commission’s website (ncrec.gov) under the “PUBLICATIONS” tab.
The Commission encourages brokers to begin using the form immediately. Effective 7/1/21, brokers will be required to use this form in all commercial and residential sales transactions.
On 4/26/21, the Commission hosted a 60-minute webinar introducing this new form. A recording of the webinar is available for viewing on the Commission’s website.
This form will be translated into Spanish and will be discussed in the 2021-2022 GENUP and BICUP courses. Aside from the introduction of this new form, there has been no change to the rule which requires agency disclosure (A .0104(c)) and no change in the types of agency relationships that brokers may offer. The only change is in the form that brokers use to explain agency relationships.
How Do I Love Thee . . . Send the Love Letters to A Sweetheart, Not A Seller
Today’s market is HOT! Really HOT. Like a cheap romance novel HOT. Sellers are receiving an enormous amount of attention, with multiple buyers wooing them for their homes by offering prices well over list, large due diligence fees, and yes, love letters.
Who is encouraging these love letters designed to pull at the heartstrings of the seller and lull them into accepting a particular buyer’s offer over others? Usually the buyer agent. Maybe the buyer has heard the letter is needed from family or friends trying to help out. The bottom line is such letters can create a problem and are best avoided by all.
The purpose of a “love letter” is simple enough – a buyer wants to be the chosen one, and it seems reasonable enough to attempt to win their dream home by pouring out their hearts to the sellers. However, these letters can pose serious fair housing risks as they usually contain personal information about the buyers which may result in conscious or unconscious bias in selection by the sellers.
What does that mean? Let’s say the buyers include a photograph or two of themselves. Now the seller is looking at the buyers and can see their race, whether or not they have children (familial status), or whether or not they are heterosexual. The buyers may refer to how they can’t wait to put up a Christmas tree by the fireplace – an indication of their religious beliefs. All of these things about the buyers may form the basis of selection by the sellers. These factors go beyond the price and terms of an offer. The sellers may make their choice – consciously or unconsciously – based on facts about the buyers’ race, familial status or religion, all of which are protected categories under fair housing laws.
If you are the listing agent, you should educate your sellers about the pitfalls of love letters – this type of letter opens them up to criticism and possibly to civil liability and they should not look at such letters even if they are sent directly to the sellers from the buyers. Sellers should only be considering offers based on objective criteria – price and terms. Your firm may have a policy against the use of such letters – if so, let your clients know that if you receive such a letter with an offer you will not be passing it on to them. NAR recommends that no such letters be accepted as part of an MLS listing. Document the reasons your client chose or rejected each offer.
If you are a buyer agent, your firm may also have a policy against the use of such letters. Never recommend that a buyer prepare a love letter for the seller or tell the buyer to send such a letter directly to the sellers. Let your buyers know the market is hot, and they should make their highest and best offer if they want to be successful. Prepare them for the fact that, in an extremely competitive market, they will likely lose a number of properties before they find the home that was meant to be theirs.
The key here is to protect your clients from possible harm by removing the temptation to go with a contract simply because photographs or letters tug at their hearts and instead have them choose the best offer on the table. Love may be blind, but unconscious bias is real and sees clearly. Keep your clients and yourself safe from any potential fair housing issues.