- CHAIRMAN'S COMMENTS -

On behalf of your Board, I would like to thank the many licensed salesmen and brokers who solicited the support of their legislators for H.B. 187. As you know, this bill is now low and should go far in further upgrading the real estate profession in North Carolina.

"Reciprocity" is the giving or exchanging mutually or equally. The new amendment to the real estate licensing law just passed allows the North Carolina Board to negotiate reciprocity agreements on an equal basis with other states. In other words, North Carolina may now make the some requirements of an out-of-state resident as are made of North Carolinians wishing to be licensed out-of-state.

In the past there have been some serious charges filed against real estate brokers. At the formal hearings it frequently has developed that the trouble arose from the brokers failing to keep escrow accounts as required by G.S. 93A-6. Escrow accounts are required by law. It is the duty of the broker to have his escrow account in proper order as he is accountable for the funds

J. W.Olive