About This Chapter
North Carolina Real Estate License Law - Chapter Summary
How much do you know about North Carolina real estate license law? This chapter can help you find out! Exploring engaging lessons to get a comprehensive understanding of license categories, agency contracts, laws and rules governing timeshares and other North Carolina real estate license law topics. Once you've reviewed each lesson, you will have the ability to do the following:
- Discuss North Carolina real estate license categories, status and general, administrative and maintenance requirements
- Explain the purpose of the NC Real Estate Commission
- Describe real estate agency contracts, practice and disclosures in North Carolina
- Identify regulated and prohibited North Carolina real estate practices
- Detail NC real estate rules and laws governing timeshares
- Provide information about the taxation of property in North Carolina
- Share details about NC real estate sales contracts, practices and closing procedures
- List laws governing residential tenancies in North Carolina
- Describe NC residential square footage guidelines
- Define the North Carolina Residential Property Disclosure Act
Ensure you fully understand North Carolina real estate law by reviewing the lessons anytime and in any sequence that suits your study needs. If you hit a snag and need additional information about this chapter's topics, don't hesitate to submit your questions to our experts. When ready, be sure to test your knowledge by taking short lesson quizzes. A practice chapter exam can also help you reinforce lesson concepts.
1. North Carolina Real Estate License Requirements
Since it's illegal to work as a real estate agent in North Carolina without proper licensing let's take a look at the requirements for getting a license and which tasks require a license. We'll also review tasks a person can do without a license.
2. North Carolina Real Estate License Categories & Status
In this lesson we will identify the multiple categories of North Carolina real estate licenses, and discuss the rules regarding maintaining a real estate license in active status.
3. North Carolina Real Estate Commission: Purpose, Composition & Powers
The North Carolina Real Estate Commission's purpose is to protect the public when dealing with real estate brokers. The Commission has the power and authority to discipline any licensee if they violate the Commission rules or License Law.
4. North Carolina Real Estate License Administrative & Maintenance Requirements
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.
5. Real Estate Agency Contracts in North Carolina
This lesson looks at the laws and rules governing real estate agency contracts in North Carolina as outlined by the license law and real estate commission rules. It covers everything in regards to requirements for agency contracts, oral buyer and tenant agency contracts, and first substantial contracts.
6. Real Estate Agency Practice & Disclosures in North Carolina
The lesson provides an overview of the rules and disclosures related to real estate brokers in North Carolina. Rules about disciplinary actions, agency rules, disclosures, and client relations are included.
7. Regulated Real Estate Practices in North Carolina
This lesson will cover some of the real estate practices that are regulated by the North Carolina real estate law and the real estate commission rules. Specifically, it will look at everything from regulations on advertising to the delivery of instruments, even matters regarding compensation of unlicensed persons for brokerage activities.
8. Prohibited Real Estate Practices in North Carolina
The purpose of this lesson is to break down real estate practices that are prohibited under North Carolina law, which includes statutes 93A-6(a)(1), (2), (3), (4), (5), (6), (8), (10), (11) & (15); 93A-6(b), (c), (e) & (f), as well as North Carolina Real Estate Commission Rule A.0504(a) and A.0507.
9. North Carolina Real Estate Laws & Rules Governing Timeshares
Brokers in North Carolina must understand the rules of the North Carolina Time Share Act, the powers of the Real Estate Commission, and Timeshare Sales Operation Rules. This lesson attempts to simplify the Time Share Act.
10. Property Taxation in North Carolina
Let's take a look at how the state of North Carolina taxes real estate through setting local tax rates and assessing property values. We will also review some of the exemptions available to certain taxpayers that can reduce their tax bills.
11. North Carolina Real Estate Sales Contracts & Practices
This lesson provides an overview of North Carolina real estate sales contracts as regulated by North Carolina Real Estate Commission Rule A.0112. Common standard forms and sales practices are discussed as well.
12. Real Estate Closing Procedures in North Carolina
The purpose of this lesson is to further develop an understanding of the real estate closing procedures set forth by the North Carolina Real Estate Commission and the North Carolina General Assembly.
13. North Carolina Laws Governing Residential Tenancies
This lesson covers the landlord and tenant laws in North Carolina. An aspiring tenant or landlord needs to know details about the Residential Rental Agreement Act, Tenant Security Deposit Act, and the complaint and eviction procedures to stay within regulations and work out a safe and fair deal for both sides.
14. North Carolina Residential Square Footage Guidelines
The lesson reviews the residential square footage guidelines published by the North Carolina Real Estate Commission. A definition of heating living area is included. Possible disciplinary actions may result from incorrect calculations.
15. North Carolina Residential Property Disclosure Act & Other Disclosure Rules
This lesson discusses the NC Residential Property Disclosure Act and laws/rules related to all types of disclosures, including and Brokers Responsibilities Related to Previously Mentioned Disclosures.
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Other chapters within the North Carolina Real Estate Broker License: Study Guide course
- Agency Relationships
- Types of Contracts
- Real Estate Contracts
- Real Property Ownership
- Land Use: Restrictions, Regulations & Government Control
- Finance & Financing in Real Estate
- Government Oversight in Real Estate
- Real Property Measurement & Valuation
- Conveyance of Real Property
- Marketing Regulations in Real Estate
- Property Management & Tenant Rights
- Real Estate Calculations
- General Real Estate Topics
- North Carolina Real Estate Broker License Flashcards