NEW
EDITION OF
The 2006-07 edition of the Real Estate Commission’s text and reference
book, the North
Carolina Real Estate Manual, will be available for purchase in late June. The Manual, which is updated bi-annually, has for
several years served as the text for the sixty-hour Broker Course. However, the course became obsolete April 1
with the change to a “broker only” licensing structure and implementation of a
substantially revised education program.
Under this new program, newly licensed “provisional brokers” must now
complete three thirty-hour postlicensing courses
within the first three years after initial licensure (at least one of the
thirty-hour courses each year). Also,
all salesperson licenses were converted to provisional broker licenses and
those persons licensed as salespersons prior to October 1, 2005 required to
complete a twenty-four hour Broker Transition Course if they do not have
four years full-time (or equivalent part-time) brokerage experience within the
previous six years. The new edition of
the Manual will serve as the text
for all three of the new postlicensing courses and
the Broker
Transition Course.
In addition to the usual
updating required to reflect changes in laws, rules
and practices, the 2006-07 edition features substantial revisions to better
support its expanded role as the text for the new courses. For example, the material relating to agency
concepts and relationships was substantially rearranged and duplication of coverage
minimized. Coverage of broker practices
and services when working with both sellers and buyers has been expanded to
provide a better understanding of an agent’s practical responsibilities and to
facilitate teaching the subject matter in “transaction sequence” as called for
in the new courses. New chapters on
“Property Management” and “License Law Case Studies” have been added, as well
as a new appendix addressing the process of “Licensing a Real Estate Firm”. And there have been significant improvements
in the coverage of several other topics, including sales contracts, fair
housing and commercial real estate brokerage.
The Manual continues to include
current versions and comments on the Real Estate License Law and Commission
rules.
Because of its excellent coverage of a wide
range of topics critically important to practicing real estate agents, every
broker should have a current edition of the North Carolina Real Estate Manual in his or her personal
library. It may be ordered online via
the Commission’s website at www.ncrec.state.nc.us or by using the order
form included in this Bulletin.