Which of the following individuals is required to have a North Carolina real estate license?
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Ready to start a rewarding career in real estate? First, you’ll need to get your North Carolina Real Estate Broker License. Each state has its own requirements for earning and operating with a real estate license. While some states allow you to work with a a real estate agent or salesman license, North Carolina requires you to become a full Broker. Here are the requirements for getting and maintaining a North Carolina real
estate license: 1. Complete a 75-hour Prelicensing Course with an approved school, like Sea Coast Real Estate Academy. This course will provide you instruction in basic real estate principles and practices. You will learn about property ownership, real estate law, transfer of title, title
insurance, financing, brokerage relationships, closings, valuation, property management, taxation, fair housing, mathematics, and sales contracts and practices. At the end of the course is a required test. You must pass this test with a minimum grade in order to qualify to take the real estate license examination. 2. Complete your background check. The North Carolina Real Estate Commission requires you to complete a background check prior to taking the real estate exam.
The NCREC’s background check website is found HERE. 3. Apply to take the North Carolina real estate exam. Once you have taken the 75-hour course, passed the in-class test, and completed your background check, you are eligible to apply for your brokers license. The North Carolina Real Estate Commission has applications on their website. 4. Schedule your time to take the North Carolina real estate exam. After the real estate commission has determined if you meet all requirements, they will send you a notification that you are eligible to sit for the exam. You can then call the testing center, or use their website, to schedule a time slot. Once you pass the exam, you will be awarded a Provisional Broker’s License. 5. Activate you license under a BIC. While you have a Provisional Broker’s License, you need to be monitored by a Broker-in-Charge. It is time to find a company to work under. If you need some guidance on this, don’t hesitate to ask your instructor. 6. Complete your 90 hours of Postlicensing. All licensees have 18 months to complete the required postlicense courses. To do so, Provisional Brokers must complete three 30-hour courses. Licensees have the option to take these in any order and at any time in those 18 months. Not completing these courses will result in your license going inactive. 7. Complete 8 hours of Continuing Education each year. The real estate commission in North Carolina feels that it is very important to stay educated on new real estate laws and procedures, so they require each licensee to take 8 hours of classes by June 10 of every year (starting your second renewal year) in order to maintain their North Carolina real estate license. Provisional Brokers and non-Broker-in-Charge Brokers must take the General Update course (4 hours) and one North Carolina Real Estate Commission-approved elective (4 hours). BICs have their own required update course. 8. Enjoy you rewarding career in real estate! In no other industry will you meet so many interesting individuals from all walks of life. Have questions about getting your North Carolina Real Estate License? Please don’t hesitate to reach out to us. Must North Carolina property management companies have a real estate broker's license?YES. Key components of property management (leasing and renting) are considered real estate activities under existing North Carolina real estate licensing laws. If a property manager is going to lease, rent, or list, or offers to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities. Are there any exceptions to the requirement that a North Carolina property manager have a real estate broker's license?YES. For example, on-site managers and salaried employees of real estate brokers working for property owners are exempt if their employment is limited to certain activities, such as showing units to prospective tenants, accepting application for lease of the units, accepting security deposits and rent (when they are payable to the property owner) and accepting lease applications. Such employees may not negotiate security deposits, rental payments or leases. For more information about these and other North Carolina property management requirements and exceptions, please contact the North Carolina Real Estate Commission. Before hiring a property manager to manage your North Carolina rental property, you should always check that he or she is licensed appropriately. You can check the license status of North Carolina property managers at the North Carolina licensee database. North Carolina Community Association Management RequirementsThere is no requirement that a community association manager or condo association manager in North Carolina hold a real estate broker's license. North Carolina Broker LicensingNorth Carolina is a "broker license only" state. This means that there is one type of license in North Carolina - the broker license. However, there are a few "categories" of broker licenses. The Provisional Broker license is the entry-level license, and would be roughly equivalent to a salesperson license. The Broker license is the primary individual license, acquired after satisfying post-licensing education requirements to terminate the provisional license. A Broker-in-Charge license is a higher level license, requiring the applicant to have two full-time or part time years of brokerage experience. Each real estate office must have a Broker-in-Charge designated. Real estate provisional broker licensing requirements in North Carolina include:
Please note that licensing reciprocity with other states ended in North Carolina on February 29, 2012. For more information about these and other licensing requirements, please contact the North Carolina Real Estate Commission. Who needs a real estate license in NC?Who is required to have a real estate license in NC? Any person or business entity who engages in brokerage must have a real estate license. See GS 93A-1 and GS 93A-2 for rules & exceptions.
Do you need a license to be a transaction coordinator in North Carolina?North Carolina Transaction Coordinator
Since transaction coordinators are part of the closing process it's often preferred that they have a license.
Do I have to be a NC resident to get a NC real estate license?As of March 1, 2012, anyone holding a real estate license in another state, may apply for a real estate license in North Carolina regardless of their place of residence, and will not have to take the 75-hour pre-licensing coursework, nor will they need to complete the national section of the state license exam.
Does a sole proprietor need a real estate license in NC?There is only one instance where a firm license is not required: a sole proprietorship, which is a business owned and managed by one person who is personally liable for all of its debts and obligations. Every other business entity must be licensed by the Commission and meet various other requirements as outlined below.
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