New Licensing Information

Booklet Published

Since January, persons interested in obtaining North Carolina real estate licenses have received a new informational booklet from the Real Estate Commission.

The booklet, entitled "Real Estate Licensing in North Carolina", is divided into five sections. The first section contains general licensing information, including a detailed description of the various policies and procedures involved in applying for Iicensure, qualification requirements, information concerning the licensing examinations and other general information concerning licensing requirements. In Sections 2 and 3, the current Real Estate License Law and Commission Rules are reprinted. Section 4 contains trust account guidelines and sample trust account journal and ledger forms. And Section 5 is a Study Guide written by Education Director Larry Outlaw explaining some of the more important provisions of the License Law.

Also built into the booklet are the form used to apply for a real estate license and an envelope for the applicant's use in filing his application with the Commission.

The consolidation of all licensing forms and information into one publication is expected to result in substantial cost savings for printing, handling and distribution and will aid license applicants by giving them more information concerning the licensing and examination process in a more convenient and easier to use format.

The Maryland Real Estate Commission has notified the North Carolina Real Estate Commission that real estate brokers and salesmen from North Carolina and other states who wish to obtain nonresident Maryland licenses will no longer be exempted from the Maryland licensing examination.

In the future, applicants for Maryland licenses must pass the State Section of the Maryland licensing examination before they will be licensed. In addition, applicants for broker licenses will continue to be required to be licensed as a broker or salesman for at least three years as a prerequisite for licensure.