Pending Cases: The Commission entered into consent agreements to suspend 3 licenses; closed its case without action against 2 licensees; reprimanded 4 licensees; accepted the voluntary surrender of 4 licenses; approved the issuance of one license on provisional status; authorized the Regulatory Affairs Division to seek injunctive relief against two unlicensed individuals; and ordered hearings in cases involving 13 licensees.
License Applications Involving Character Issues: License applicants who have character issues such as prior criminal convictions or disciplinary action 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: 28; total approved: 19.
License Examination Results: A summary of key data relating to persons taking the exam for the first time is provided below:
Individuals Tested for the First Time | ||||
Took prelicense course | Hold license from another state | |||
January 2021 | February 2020 through January 2021 | January 2021 | February 2020 through January 2021 | |
# Tested | 965 | 10068 | 18 | 207 |
% Pass both sections | 37% | 38% | N/A | N/A |
% Pass National section | 68% | 68% | N/A | N/A |
% Pass State section | 39% | 40% | 33% | 30% |
Investment Policy: The Commission reviewed and adopted a revised Investment Policy addressing the need to continue to use investment vehicles with FDIC insurance or collateralization of funds in NC pooling method financial institutions in accordance with the directives of the NC Department of State treasurer, and the use of target goals and laddering to ensure access to funds when needed and diversity of investments including
Minority Depository Institutions.
License Application Refiling Fees: The Commission discussed possible changes in how refiling fees are charged and collected, including legal, technical, and financial impacts. The Commission will revisit the issue after data is available on the reinstitution of end-of-course prelicensing examinations.
Legislative Report: The Commission reviewed the Legislative Report noting bills that are currently pending in the General Assembly that relate to real estate brokerage, occupational licensing, or other matters of interest to the Commission.
Dual Agency Research Report: Staff reported that they are surveying the ARELLO jurisdictions concerning recent or expected legislation relating to dual agency and/or transaction brokerage, reviewing the most recent NAR issues tracker on each state’s approach to agency relationships, developing a survey instrument directed to North Carolina brokers in charge about their handling of agency in their companies, offices, and teams, reviewing the position of the Consumer Federation of America, and reviewing other current literature on the topic. Staff will report on their progress at the March Commission.
Larry A. Outlaw Excellence in Education Award Selection: The Commission voted to meet in closed session pursuant to N.C.G.S § 143-318.11(a)(2) to select the recipient of the Larry A. Outlaw Excellence in Education Award.
Report on License Numbers: As of February 1, 2020, there are 118,617 brokers and firms licensed by the Commission, as follows:
Next Commission Meeting: The next Commission meeting will be held at 9:00 a.m., Wednesday, March 17, 2021, via Zoom online video.