Bulletin 1973 V4-1

LEGISLATIVE REPORT

Senate Bill 871 to amend Chapter 93A at the General Statutes relating to real estate brokers and salesmen was passed by the Senate during the recent session of the 1973 General Assembly. The bill will be considered by the House Judiciary Committee I in January when the 1974 General Assembly reconvenes.

The bill (identical to House Bill 1260) was introduced in April at the request of the North Carolina Association of Realtors and has the support of the Real Estate Licensing Board. The bill would provide the following new requirements for broker and salesmen licenses.

"Each applicant for a license as a real estate broker shall have been actively engaged as a licensed real estate salesman in this State for at least 12 months prior to making application for a license as a real estate broker, or shall furnish evidence satisfactory to the Board of experience in real estate transactions which the Board shall find equivalent to such 12 months experience as a licensed real estate salesman, or shall furnish evidence satisfactory to the Board of completion of 60 classroom hours of such courses of education in real estate subjects at a school approved by the Board as the Board shall by regulation prescribe. Each applicant for a license as a real estate salesman shall furnish evidence satisfactory to the Board of completion of 30 classroom hours of such courses of education in real estate subjects at c school approved by the Board as the Board shall by regulation prescribe or shall furnish evidence satisfactory to the Board of experience in real estate transactions which the Board shall find equivalent to such real estate education."