Beginning October 1, 2000, brokers-in -charge would be required to complete a special five- or six-hour course every five years.
The N.C. General Assembly recently amended the Real Estate License Law authorizing the Commission to adopt rules requiring brokers-in-charge of real estate offices to complete a course of instruction prescribed by the Commission. The Commission is now proposing a rule to implement this broker-in-charge education requirement.
Under the proposed rule, brokers-in-charge will have to complete a special Broker-In-Charge Course consisting of five or six classroom hours every five years. Brokers taking the course will receive four hours of continuing education elective credit for the course.
Here's how it would work:
If you are designated the broker-in-charge of a real estate office on or after October 1, 2000 (and you have not completed the course within the past five years), you will have to complete the course within 90 days of being designated in order to continue as broker-in-charge.
If you have been designated as broker-in-charge before October 1, 2000, you will have five years to complete the course. But, if your service as the broker-in-charge is terminated for any reason (e.g., failure to renew your license by June 30 or failure to meet your continuing,education requirements) and you are subsequently re-designated broker-in-charge of the same office or a different office, you will be treated as a newly designated broker-in-charge and required to complete the course within 90 days.
For brokers-in-charge who do not comply with the new rule, their status as broker-in-charge will be immediately terminated.
The Commission will begin offering the Broker-In-Charge Course in September, 2000. Although course content has not been finalized, current plans call for emphasis on trust account rules and record-keeping and the legal and practical responsibilities of being a broker-in-charge. The course will be offered several times each month at various locations around the state. Look in future issues of the Real Estate Bulletin for course schedules.