UNDERSTANDING YOUR LICENSE STATUS

     The Real Estate Commission has become aware that some brokers and salespersons who are members of the Association of REALTORS® are confused about the Association's dues policy and, as a result, may have mistakenly placed their licenses on "inactive" status.

      If you have questions concerning your membership in the REALTOR® Association, you are advised to contact the North Carolina Association of REALTORS®, 4500 Weybridge Lane, Greensboro, NC 27407, Phone 336/294-1415. Before changing the status of your real estate license with the Real Estate Commission, you should fully understand the differences between "active," "inactive" and "expired" license status.

"Active" Status

     If your license is on "active" status, you can perform any acts and services which require a license. For example, brokers may engage in sales and rental management (either independently or with a firm), and salespersons may engage in brokerage activities under the supervision of a broker-in-charge. However, you are reminded that to keep your license "active," you must take two Commission-approved continuing education courses annually (the Update course and an elective), and you must renew your license with the Real Estate Commission by June 30 of each year.

"Inactive" Status

     If your license is on "inactive" status, you are considered licensed, but you may not engage in any acts or services for which a license is required--including receiving "referral fees." To prevent your "inactive" license from expiring, you must pay the annual license renewal fee, but you are not required to take any continuing education. [Note: To activate your license, you will be required to take the Update course and up to three elective courses.]

"Expired" Status

     Your license will automatically expire July 1 if you do not renew it with the Commission. Once it is expired, you may not engage in any activity which requires a real estate license. And if it is expired for more than one year, you may be required to retake prelicensing education and/or the license examination in order to get it back.

In Summary

     If you are engaged in any activity requiring a license, be sure to maintain your license on active status. If you are presently not engaged in brokerage but think you may want to do so in the future, you may wish to place your license on "inactive" status. But if you let your license expire, you may have to take significant education and the license examination in order to get it back.