Broker in charge
In this article, we will aim to clear up the confusion by clearly defining the most commonly misused or misunderstood terms. As an important blanket statement, keep this in mind: In North Carolina, every licensee is a broker. The difference lies in the status level of their broker license. This is the entry-level title for a North Carolina real estate career. Once you complete the required education, pass the state exam, and earn your license, you become a provisional broker.
What does this mean? Well, essentially you are a broker whose license is on provisional status. You can perform all of the same activities of a broker, but you must be supervised by a broker in charge. You cannot operate independently. In order to remove the provisional status of your license, you must complete 90 hours of postlicensing education, as prescribed by the state, within a 3-year period to keep your license active and drop the provisional status.
Thinking broker in charge earning your license? The most common real estate license type in North Carolina is a real estate broker license. This is often referred to as a full broker or a broker not on provisional status. In other states, real estate salesperson is the name given to individuals who perform in a similar capacity to a North Carolina broker.
You transition from provisional broker to broker by completing the education requirement mentioned previously. This is the highest level of real estate licensure you can reach in North Carolina. In many other states, this role is simply called broker. Every real estate broker in charge in the state must have at least one designated broker-in-charge per office. The broker-in-charge at a firm must meet the following qualifications: The broker-in-charge must also complete an additional hour broker in charge with the NC Real Estate Commission.
More in-depth broker-in-charge requirements can be found on the commission website. This is a blanket term typically used to define someone who helps broker in charge buy and sell real estate. In North Carolina, this term is generally considered synonymous with the term brokerand in many other parts of the country, it is synonymous with salesperson.
Technically, an agent has a client to represent and a fiduciary responsibility to that client. Therefore, once a real estate license is earned, the individual broker in charge always be a broker either provisional or fullas long as they maintain their license. They will be an agent broker in charge they represent a client. Here is a simple way to think of this: Get the information and advice you need to make broker in charge informed decision about starting a North Carolina real estate career.
We asked three successful real estate professionals what they wish they knew about being successful in real estate before they earned a license and started a career. We compiled their advice into this valuable resource, and it's now available to you, completely free. Start your real estate career with confidence! Monk Real Estate School Updated: Launching Your Real Estate Career Get the information and advice you need to make an informed decision about starting a North Carolina real estate career.
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