North Carolina Real Estate Licensure Overview

Overview of the Process

To become a licensed real estate professional in North Carolina, individuals must follow these steps:

  1. Meet Eligibility Requirements: Be at least 18 years old, a U.S. citizen or legal resident, possess a Social Security number, have a high school diploma or equivalent, and pass a criminal background check.
  2. Complete Pre-Licensing Education: Finish 75 hours of coursework at an approved real estate school, covering topics like real estate law, contract law, financing, property valuation, and North Carolina-specific regulations.
  3. Pass the Licensing Exam: Take a two-part exam administered by PSI, covering national real estate concepts and North Carolina-specific laws. A score of 75% or higher on each section is required to pass.
  4. Submit Application: Apply for a Provisional Broker license with the North Carolina Real Estate Commission (NCREC), providing exam results, pre-licensing certificate, and completing a background check.
  5. Fulfill Post-Licensing Requirements: Within 18 months, complete 90 hours of post-licensing education (divided into three 30-hour courses) while working under the supervision of a Broker-in-Charge (BIC). This upgrades the license to a full broker status.
  6. Maintain License: Complete 8 hours of Continuing Education (CE) annually, including 4 hours of General Update and 4 hours of electives, by June 10th. Renew the license annually by June 30th.

Vocabulary

  • Broker-only state: A state where all real estate licensees are initially licensed as brokers, with no separate “salesperson” license.
  • Provisional Broker: The entry-level real estate license in North Carolina, requiring supervision by a BIC until post-licensing education is complete.
  • Broker-in-Charge (BIC): A fully licensed broker responsible for supervising provisional brokers and ensuring legal compliance within a real estate firm.
  • Continuing Education (CE): Required annual education for licensed brokers to maintain their license and stay updated on industry changes.
  • NCREC: North Carolina Real Estate Commission – The regulatory body overseeing real estate licensing and professional standards in the state.

Sample Quiz on NC Licensure:

  1. What is the minimum number of hours of pre-licensing education required in North Carolina?
    • A) 40 hours
    • B) 75 hours
    • C) 90 hours
    • D) 120 hours
  2. True or False: North Carolina has both salesperson and broker licenses.
  3. What is the passing score required on both sections of the NC real estate licensing exam?
    • A) 60%
    • B) 65%
    • C) 75%
    • D) 80%
  4. Which of the following is NOT a requirement to become a full broker in North Carolina?
    • A) Passing the licensing exam
    • B) Completing 90 hours of post-licensing education
    • C) Working under a Broker-in-Charge
    • D) Completing 8 hours of continuing education within 3 months of licensure
  5. By what date must a broker complete their continuing education each year?
    • A) March 31st
    • B) June 10th
    • C) July 1st
    • D) December 31st

This detailed look at the North Carolina licensure process provides aspiring brokers with the necessary steps to enter the real estate industry legally and successfully.