If you’re a North Carolina real estate broker looking to take your career to the next level, you may be wondering how to become a broker-in-charge. The broker-in-charge license category is a higher level where brokers can supervise other brokers—and potentially earn more money. So, does it take to become a broker-in-charge? This article has everything you need to know about how to become eligible to be a broker-in-charge in North Carolina.
Step 1: Obtain Broker-In-Charge Eligible Status
Before you can become a broker-in-charge (BIC), you must obtain BIC eligible status. In order to achieve this status, a broker must:
1.) Hold a “full” broker license (not provisional) on active status;
2.) Have acquired at least 2 years of full-time or 4 years of part-time real estate brokerage experience within the previous 5 years or be a North Carolina licensed attorney with a practice that consisted primarily of handling real estate closings and related matters in North Carolina for 3 years immediately preceding application;
3.) Submit the Request for BIC Eligible Status and/or BIC Designation form (REC 2.25);
4.) Complete the Commission’s 12-hour Broker-in-Charge Course no earlier than one year prior to and no later than 120 days after submission of form REC 2.25.
Step 2: Obtain the Broker-In-Charge Designation
Once a broker has obtained BIC Eligible status, the broker may step in and out of active Broker-in-Charge designation by submitting a request form. As long as the broker maintains BIC Eligible status by timely renewing his/her license and completing the correct CE each year, the broker will not be required to take the 12-hour Broker-in-Charge Course upon redesignation.
Requesting Broker-in-Charge Designation: Submit the Request for BIC Eligible Status and/or BIC Designation form (REC 2.25). You must indicate the firm or sole proprietorship for which you will be serving as BIC.
Terminating Broker-in-Charge Designation: If another broker submits a Request for BIC Eligible Status and/or BIC Designation form to be designated as the BIC at your office, your BIC designation will be automatically terminated when the new BIC’s form is processed. However, if you wish to be removed as BIC immediately, you may submit a Request for Termination of Affiliation form (REC 2.22).
Step 3: Maintain Your Broker-In-Charge Designation
A broker may maintain BIC Eligible status and BIC designation by:
1.) Renewing his/her license between May 15-June 30 each year;
2.) Completing the BICUP (Broker-in-Charge Update) course plus 1 Commission-approved elective by June 10 each year.