Subsequent real estate renewals for agents and brokers usually have a decreased number of credit requirements. If your state does not have additional requirements for first-time renewals, you may have post-licensing course requirements. Many states have varying continuing education (CE) requirements if it is your first time renewing your real estate license. State-by-State Renewal Requirement Guides For example, in Colorado and North Carolina, the entry-level status of real estate professionals is “provisional broker,” not “agent.” Real estate professionals, regardless of their title, must renew their real estate license by the deadline if they want to continue to practice real estate. Keep in mind that some states operate as single-licensure states. However, there are a few states that have a longer renewal period. The majority of states require real estate agents and brokers to renew their real estate license every two to three years. In order to maintain your status as a real estate agent, you must renew your real estate license by the deadline in your state. Here are the five common steps needed to renew your real estate license. They provide a large variety in their course topics and formats, which allows everyone to choose the most effective and interesting method of learning. When you’re searching for the best continuing education classes to renew your license, start by checking Kaplan. Each state has different renewal rules, so be sure to determine your state’s specific requirements and complete continuing education classes before submitting paperwork to complete your real estate license renewal. This article came from the October 2016-Vol47-2 edition of the bulletin.In order to continue to act as a real estate agent or broker, you must periodically renew your real estate license by your state’s deadline.
Once you have these licenses, mark your calendar to renew your broker license by June 30 of each year and to renew your privilege license and pay the yearly tax by July 1 st. Remember: Before conducting real estate brokerage services you must: (1) obtain an individual and/or firm license from the NC Real Estate Commission AND (2) obtain a state privilege license from the NC Department of Revenue. Go to your city or county website for further information. Brokers should still confirm with their city or county whether any other additional local permits are needed to conduct business in that location. NCGS §160A-194, effective July 1 st, 2015, limited the authority of cities to require an additional license for persons holding a license issued by an occupational licensing board. This tax is not prorated and there are penalties for failure to pay. Once this state privilege license has been granted, you must pay an annual tax on July 1 st. In order to apply for a privilege license, you must go to the Department of Revenue’s website. There are a few, very limited exemptions from the state privilege license requirement which can be found under NCGS §105-41(b). The state privilege license is governed by the Department of Revenue and must also be renewed yearly by July 1. Individual real estate brokers are specifically required to obtain a privilege license under NCGS §105-41(a)(8) however, a licensed broker who is also a licensed appraiser is only required to get one privilege license which will cover both activities. This license is personal and is not issued in the name of a firm or corporation.
For more information on the broker and/or firm license go to the Commission’s website, A state privilege license is also required to do certain types of business activities within North Carolina. The broker real estate license for individuals and firms is administered by the Real Estate Commission and must be renewed yearly on or before June 30 through the Commission.
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