PROVISIONAL BROKER: This is the entry-level license status. Upon satisfying all the license qualification requirements (including passing the license examination) most license applicants are initially issued a provisional broker license, which is technically a broker license on provisional status. A provisional broker must be under the supervision of a broker-in-charge to be on active status and legally provide brokerage services.
To remove provisional status, a provisional broker must complete the 90-hour Postlicensing education program.
BROKER: This is the primary individual license status. One generally becomes a broker by first becoming a provisional broker and satisfying the Postlicensing education requirements to terminate the provisional status of the license.
A “full” broker can engage in brokerage EITHER as an affiliated agent of a real estate brokerage company (firm or sole proprietorship) under a broker-in-charge (BIC) OR independently as a sole proprietor or an entity.
An independent broker-sole proprietor must be a broker-in-charge to lawfully engage in most brokerage activities.
BIC ELIGIBLE: This status is granted to a broker who has…
- satisfied the BIC Eligible qualification requirements;
- submitted a Request for BIC Eligible Status and/or BIC Designation form (REC 2.25); and
- successfully completed the 12-hour Broker-in-Charge Course within one year prior to or 120 days after submitting form REC 2.25. 4 Real Estate Licensing in North Carolina
BROKER-IN-CHARGE: A broker with BIC Eligible status may be designated as a Broker-in-Charge (BIC). Each real estate firm or sole proprietorship must have a BIC for each office. A BIC is responsible for: (1) assuring that all brokers employed at the office are maintaining active, current licenses and are maintaining up-to-date information in Commission records; (2) notifying the Commission of firm name or address changes; (3) advertising; (4) maintaining trust/escrow account(s); (5) retaining records; (6) supervising provisional brokers; (7) ensuring that all affiliated brokers are adhering to agency agreement and disclosure requirements; and (8) notifying the Commission in writing that he or she is no longer serving as BIC of a particular office within 10 days following any such change.