Key reports, issues, and decisions of interest to licensees and/or the public are reported here from the most recent Commission meeting:
Commission Meeting of April 24, 2024
Pending Cases: The Commission entered into consent agreements to suspend 17 licenses, accepted the permanent voluntary surrender of 9 licenses, ordered hearings in cases involving 18 licensees, left cases pending involving 3 licensees, reprimanded 2 licensees, closed cases with a warning against 3 licensees, and closed cases without action against 1 licensee.
License Applications Involving Character Issues: License applicants who have character issues such as prior criminal convictions or disciplinary actions by another licensing board are separately considered by the Commission. Decisions are made based upon criminal background checks, information supplied by the applicant, and in-person interviews.
Total candidates considered: 19; total approved: 7; total approved with conditions: 4; continued: 7; and postponed: 1.
License Examination Results: If you are interested in reviewing the most recent statistics and pass rates regarding the North Carolina broker license examination, click here License Examination Results
Project Summaries: The Executive Director reviewed the 2023-2024 Project Summaries noting projects that have been completed or extended since the March Commission meeting. The Executive Director reported that Mr. Lindsey asked that the members discuss at the May meeting any projects they would like to be considered in the upcoming fiscal year, including whether to undertake another SWOT analysis.
Conference Reimbursement: Upon a motion from Mr. Aceto, the Commission approved sending Commission members to the upcoming national Real Estate Educators Association (REEA) conference in Memphis, Tennessee June 25-29, 2024.
Monthly Financial Report, Quarterly Investment, and Education & Recovery Fund Report: The Commission received the monthly Financial Report, Quarterly Investment Report, and Education & Recovery Fund Report presented by the Chief Financial Officer for the period ending March 31, 2024
Audit Services: Upon a motion from the Finance Committee (Mr. Lindsey and Mr. Ramseur), the Commission accepted the audit services bid of Bernard Robinson and Company for three years beginning with the audit of the upcoming year’s financial statements.
Regulatory Report: The Director of Regulatory Affairs reviewed a report showing the status of all cases pending in the Regulatory Affairs Division as of March 31, 2024. At Mr. Lindsey’s request, the Director of Regulatory Affairs will provide a report to the Commission at the May meeting regarding complaints received during the month where staff declined to open a file. She noted that this typically occurs when the Commission does not have jurisdiction, or the complaint does not allege a violation of the law or rules.
NC Office Attorney General Request: Upon a motion from Ms. Mallette, the Commission voted to have staff prepare a request to the NC Office of the Attorney General for an opinion concerning the extent of the Commission’s jurisdiction over out-of-state companies engaged in brokerage services in North Carolina, particularly property management. Mr. Bullard and Mr. Lindsey were not present for the vote.
Spring Educators Conference: The Director of Education and Licensing reported that the Spring Educators Conference was held on Tuesday, March 19, 2024, at the McKimmon Center on North Carolina State University’s campus. Approximately 350 people registered, and despite a budget request for $25,000 to cover the cost of the Conference, it netted a profit of $321.25 as a result of various budget savings. The Director of Education and Licensing noted that over the last two years, the Spring Educators Conference has become the largest gathering of educators in the country. The Director of Education and Licensing asked that the Finance Committee still consider allotting a $25,000 budget for the Educators Conference for the next year.
April Town Hall: The Assistant Director of Education and Licensing reported that the Education Town Hall was held on April 9 and attended by seventy-five educator providers and instructors on Zoom. The Town Hall is an open forum with no agenda. Former Commission Member Cindy Chandler provided a synopsis of the NAR Settlement, an issue at the forefront of the discussion. The next Town Hall is scheduled for July 23, 2024, from 3:00 – 4:30 p.m.
License Exam Statistics: The Director of Education and Licensing reported that 80.71% of first-time test takers passed the exam in March, the first month with the new exam provider. The Director of Education and Licensing noted the exam provider transition went smoothly and that it is too early to draw conclusions from the data gathered so far.
Real Estate Manual: The Assistant Director of Education and Licensing reported that the next edition of the Real Estate Manual is scheduled for development in the fall of 2024. She indicated that staff would like to pursue greater functionality in the electronic version of the Manual. Upon a motion of Mr. Black, the Commission voted to issue an RFP to solicit bids for the next edition of the Real Estate Manual. Mr. Bullard and Mr. Lindsey were not present for the vote.
Report on License Numbers: As of April 1, 2024, there are 128,768 brokers and firms licensed by the Commission, as follows:
Active Full Brokers – 85,607
Active Provisional Brokers – 5,149
Brokers-in-Charge – 18,251
BIC Eligible Brokers – 6,361
Inactive Full Brokers – 25,248
Inactive Provisional Brokers – 7,893
Firms – 17,645
Limited Nonresident Commercial Brokers – 268
Next Commission Meeting: The next Commission meeting will be held at 9:00am, May 22, 2024, in the Commission’s office in Raleigh and is open to the public. It can be viewed via Zoom online video.