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How many licensees in the nc real estate commision

How Many Licensees in the NC Real Estate Commission: A Comprehensive Review

When it comes to the North Carolina Real Estate Commission, one crucial question frequently arises: "How many licensees are there?" In this brief review, we will explore the positive aspects of understanding the number of licensees in the NC Real Estate Commission, highlighting its benefits and the conditions under which this information is useful.

Benefits of Knowing How Many Licensees in the NC Real Estate Commission:

  1. Market Analysis and Competition:

    By knowing the number of licensees, real estate professionals can gain valuable insights into the level of competition in the market. This information enables them to assess the saturation of licensed professionals in specific areas or regions, helping them make more informed business decisions.

  2. Networking and Collaboration Opportunities:

    Understanding the number of licensees within the NC Real Estate Commission can facilitate networking and collaboration opportunities. Professionals can identify potential partners, leverage their expertise, or establish referral networks, strengthening their overall business connections.

  3. Industry Insights and Trends:

    Keeping track of the number of licensees allows professionals to observe trends and patterns within the real estate industry. For instance, an increase in the number of licensees may indicate a growing market, while a decrease may signify changing dynamics. This knowledge helps professionals

Composition of the Commission

The Commission is comprised of nine members that serve terms of three years. The Governor appoints seven members, and the other two are appointed by the General Assembly after the Speaker of the House of Representatives and the President Pro Tempore of the Senate recommend them.

How many licensed real estate agents are in North Carolina?

How Many Licensed Real Estate Agents in North Carolina? According to the North Carolina Real Estate Commission, there are approximately 82,970 active brokers, 6,467 active provisional brokers, and 17,772 brokers-in-charge in the state.

Who are the members of the North Carolina Real Estate Commission?

Meet The Commission
  • Jeffery J. Malarney, Chair. Member 2007-2013 and since 2018. Mr.
  • William P. Aceto. Member since 2023. Mr.
  • Wendell Bullard. Member since 2018. Mr. Bullard is the managing broker of Bullard Properties, LLC, in Durham, N.C.
  • Jocelyn Mitnaul Mallette. Member since 2023. Ms.

How much does the average realtor make in NC?

The average realtor salary in North Carolina is $87,500 per year or $42.07 per hour. Entry level positions start at $80,000 per year while most experienced workers make up to $122,500 per year.

Which state has the highest real estate commission?

Missouri. The average real estate commission rate for agents in Missouri is 6.07%, and the state has the highest average realtor fees in the country.

How do I remove provisional broker status in NC?

The Broker-In-Charge helps train and grow the Provisional Broker as they gain experience in the industry. To remove provisional status, a Provisional Broker must complete the 90-hour Post-Licensing education program.

How much does a provisional broker make in NC?

The broker-in-charge then gives the provisional agent who closed the deal their cut. A 50/50 split between the BIC and provisional broker is typical in North Carolina. That would mean the actual commission for the provisional broker is 1.375%.

Frequently Asked Questions

Can I cancel my broker?

A buyer or lessor can also sometimes wish to terminate a brokerage contract. This is possible in certain situations, including by invoking the right of withdrawal allowed under the Real Estate Brokerage Act (hereafter “the Act”) or pursuant to a provision included in the brokerage contract.

Is it worth being a realtor in NC?

Another compelling reason to become a realtor is the potential for high earnings. While income can vary depending on location, experience, and level of success, the real estate industry offers a significant earning potential. Successful agents can earn a six-figure income, and top performers can earn even more.

How much does a new real estate agent make in NC?

Real Estate Agent Salary in North Carolina. $54,400 is the 25th percentile. Salaries below this are outliers. $83,800 is the 75th percentile.

Can I use my South Carolina real estate license in North Carolina?

If you're looking to move out of South Carolina and plan on continuing to practice real estate, only West Virginia and North Carolina accept a South Carolina real estate license. If you're looking to move to any other state, you will need to look into that state's real estate license application process.

How long does it take to get a real estate license in South Carolina?

How long does it take to get a real estate agent license in South Carolina? Future agents who spend about 20 hours per week on coursework can be licensed in as little as 5-6 weeks. You can use the South Carolina Real Estate Agent License Lookup Tool to verify an agent's license status.

How hard is it to get NC real estate license?

The state exam is not easy. It's also important to ask your real estate education provider if they offer any guarantees for prelicensing students. Your real estate prelicensing education will take a lot of hard work and cover a comprehensive breadth of material.

FAQ

How hard is it to get a South Carolina real estate license?

The passing rate for the South Carolina Real Estate Salesperson Exam is 70%. This test is purposefully difficult, but not impossible. Be sure to pay attention during your pre-license course and take studying seriously.

How much does a broker in charge make in NC?

The average Broker In Charge salary in North Carolina is $64,835 as of September 25, 2023, but the range typically falls between $49,100 and $75,797.

Are all real estate agents brokers in NC?

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.

How do I report a property manager in NC?

Local building, health, fire and safety inspectors can take action to ensure compliance with the codes. If you and your landlord aren't able to settle your disputes, you may want to call the Attorney General's Consumer Protection Division at 1-877-5-NO-SCAM.

What is a qualifying broker in NC?

The Qualifying Broker acts as the primary contact person between the firm and the Real Estate Commission and performs certain administrative duties (Page 2 of this form). Only one Qualifying Broker is permitted at any time for a particular firm, even if the firm operates multiple real estate offices.

How many licensees in the nc real estate commision

Do I need a broker-in-charge in NC?

Finding a Sponsoring Broker-in-Charge

When you become a provisional broker in North Carolina, you must be sponsored by a broker-in-charge in order to hold an active license.

Do you need a commercial real estate license in NC?

WHO IS REQUIRED TO HAVE A REAL ESTATE LICENSE IN NORTH CAROLINA? In general, any person or business entity who transacts real estate brokerage business (including time share transactions) for compensation as an agent for others must first obtain a real estate license issued by the North Carolina Real Estate Commission.

Can a residential realtor sell commercial property in NC? Yes. A real estate agent can sell any type of property, either commercial or residential. However, there is a lot of on-the-job experience that helps an agent be more skilled in selling commercial properties vs residential properties. Therefore, many clients prefer to hire an agent who specializes in one or the other.

How much does a commercial real estate broker earn in North Carolina?

Commercial Real Estate Broker Salary in Charlotte, NC

Annual SalaryHourly Wage
Top Earners$278,921$134
75th Percentile$258,400$124
Average$141,379$68
25th Percentile$78,000$38
How long does it take to get a real estate license in NC?

Four months

It typically takes people four months to get their North Carolina real estate license. The most time-consuming part of the process is completing your 75-hour prelicensing course. After your course, the process to apply and receive your real estate license takes as little as 10 days.

  • How do I become a commercial broker in NC?
    • Requirements to Qualify to Become a North Carolina Real Estate Broker
      1. Be at least 18 years old.
      2. Be a US citizen, a non-citizen national, or a qualified alien under federal law.
      3. Complete a state-approved 75-hour broker prelicensing course.
      4. Pass the North Carolina State Licensing Examination with a score of at least 75%.
  • Do I need a broker in charge in NC?
    • Finding a Sponsoring Broker-in-Charge

      When you become a provisional broker in North Carolina, you must be sponsored by a broker-in-charge in order to hold an active license.

  • What is the difference between a broker and a broker in charge in NC?
    • Broker-in-Charge (BIC) – The Broker who has been designated as the primary person having sole responsibility for the supervision and management of an office. Broker – Any licensee, other than BIC, who is affiliated with the firm; aka associate broker.

  • What is the best location for real estate agent?
    • Best Places To Be a Real Estate Agent
      1. Virginia Beach, VA. Virginia Beach is a tourist-attracting destination.
      2. West Palm Beach, FL. Why not get your real estate license in Palm Beach?
      3. Austin, TX. A decade ago, Austin was up-and-coming.
      4. Tulsa, OK.
      5. Denver, CO.
      6. Dallas, TX.
      7. Seattle, WA.
      8. Washington, D.C.
  • What is the highest paid broker?
    • High Paying Brokerage Professional Jobs
      • Stock Broker. Salary range: $65,000-$225,000 per year.
      • Commodity Broker. Salary range: $30,000-$105,000 per year.
      • Broker. Salary range: $105,000-$105,000 per year.
      • Associate Broker. Salary range: $48,000-$77,500 per year.
      • Energy Broker.
      • Broker Assistant.
      • Brokerage Clerk.

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