North Carolina Real Estate License Administrative & Maintenance Requirements

Instructor: Ian Lord

Ian is a real estate investor, MBA, former health professions educator, and Air Force veteran.

Maintaining an active North Carolina real estate license is essential to legally practice as a broker. Let's take a look at what administrative and maintenance requirements are involved in keeping an active license in good standing.

NC Real Estate License Administration and Maintenance

Now that Jack has earned his real estate license and found a position with a local broker in his North Carolina hometown, he needs to make sure he keeps that license in good standing. The state of North Carolina requires license holders to maintain an active license by keeping the state up to date on important personal information, as well as completing initial and recurring education. Let's take a brief look at what Jack will have to do to keep his license in active status.

License Issue, Renewal, and Reinstatement

Within about 10 days of completing the requirements and application for his license, Jack will receive a license certificate and a license pocket card that serve as proof of licensure. All licenses expire on June 30, even if the license was recently issued. License holders are sent a postcard reminder in May to pay the renewal fee online, which is $45 as of 2016. It's illegal to work as a broker with an expired license.

What if Jack, for whatever reason, forgot to submit his renewal? In this case, he must apply for reinstatement. The exact requirements depend on how long the license has been expired and what sort of license he held. As a new provisional broker, if it has been expired for less than six months, he would have to pay a $55 fee and be up to date on his post-licensure and continuing education. If his license has been expired for between six months and five years, he would have to catch up on the last three years of education and submit a formal reinstatement application to become an active broker again. After five years, the reinstatement requirements include repeating the initial 75-hour course for new agents or otherwise meeting initial licensing requirements. Brokers have similar requirements, except there is an additional window between two and five years with slight differences in the amount of educational coursework that needs to be completed.

Information Updates

As a license holder, Jack needs to keep the North Carolina Real Estate Commission informed of his residential address, business address, and employment status. This includes letting the state know if he changes his affiliation to another broker. He has ten days after a change to inform the Commission.

In the event Jack is ever convicted of a misdemeanor or felony, he must inform the Commission within 60 days of the judgment. This is also true of any disciplinary actions taken against him in connection with another professional license, such as law or medicine, in addition to real estate activities.

Education

North Carolina has two education requirements after a real estate license is issued. The post-licensing coursework is a one-time requirement following initial licensure. It includes 90 hours of classroom work, divided into three separate courses. This coursework must be completed within three years in order to maintain an active license.

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