If you’re thinking about getting a North Carolina real estate broker license, then you may have already heard of the North Carolina Real Estate Commission (NCREC). The NCREC is the independent state agency in charge of licensing and regulating real estate brokers in North Carolina.
Licensing a state of brokers is enough work to keep an agency busy, but the NCREC has some important responsibilities beyond carrying out operations and administrative duties. The Commission is essentially the gatekeeper for all things real estate in North Carolina. From being an information portal for consumers that are buying their first home to creating laws and regulations that impact thousands of brokers, the NCREC keeps the real estate industry running smoothly in North Carolina. Here’s how the Commission does it.
Regulating Real Estate Educators and Required Education
Real estate educators like Aceable are able to operate in the state because they’ve gotten approval from the NCREC. Approval to teach courses requires attendance at instructor seminars that are hosted by the North Carolina Real Estate Commission. The Commission regulates not only who can educate license candidates and brokers, but what should be on the syllabus.
Overseeing the Commission Programs
Sometimes it’s the Commission that does the educating. NCREC holds a number of informational and educational programs throughout the year for licensees, real estate professionals, educators and consumers.
Assuring Real Estate Broker Applicants Are Competent
Being a broker is a very serious profession. A single deal could involve $1+ million, and for many consumers buying a home is the biggest investment they’ll ever make. Needless to say, North Carolina brokers need to be competent. It’s the NCREC’s job to make sure they are capable of handling the job, which is why they manage the prelicensing education program and educators. The Commission also oversees continuing education to ensure licensed brokers continue to provide consumers with quality services and sound judgment.
Addressing Issues That Impact Licensees
The NCREC is looking out for all licensed brokers in the state by monitoring what’s happening in the real estate industry and local markets. If they come across an issue that warrants change they’ll propose new legislation. If they discover there’s something of concern they will notify licensees. In general, the North Carolina Real Estate Commission is looking out for the best interest of brokers and acting on their behalf.
Addressing Consumer Issues
The Commission looks out for consumers just as much as licensees. If a consumer wants to make a complaint against an NC broker, the Commission is who will handle the issue. And just as with licensees, the NCREC also alerts consumers of concerns within the industry to watch out for.
Making Sure Brokers Follow North Carolina Real Estate License Law
The Commission can’t offer legal advice, but it does uphold the North Carolina Real Estate License Law. Part of how they do that is by investigating complaints against licensees. They also manage the disciplinary process and provide brokers with lots of information regarding the current laws and regulations.
Making Sure Brokers Follow Commission Rules
The NCREC is also in charge of making sure all North Carolina real estate brokers follow the Commission rules. These are separate from the NC real estate license laws.
Regulating Timeshares and Salespeople
Timeshares also fall under the jurisdiction of the North Carolina Real Estate Commission. In addition to registering timeshares, the Commission also oversees the licensing of timeshare salespeople.
Protecting the Public Interest
The overarching mission of the North Carolina Real Estate Commission is to protect the public interest. Everything they do is done with this in mind. Making sure that real estate brokers are competent is definitely in the public’s best interest. The same goes for keeping consumers informed of issues and helping licensees better understand issues that could affect their job. At the end of the day, if the public interest is served the NCREC has done its job.
Quick Links: NCREC Resources for Real Estate Professionals
Annual Report with information regarding changes to licensing rules.
License laws and Commission rules portal with overviews and links to detailed info.
Brokers-in-Charge Best Practices Guide that can also inform provisional brokers.
General FAQs that answer the most common questions.
Are you ready to send the North Carolina Real Estate Commission a broker application? Find out how to qualify for a North Carolina real estate brokers license and what’s included in the prelicensing course from Aceable!