Residential Property Disclosure Form Undergoes Further Revision

The Residential Property and Owners’ Association Disclosure Statement, which was revised by legislative mandate in 2011, has undergone further revision. The new form will be required for all properties placed on the market on or after January 1, 2013. For those properties placed on the market prior to January 1, 2013 that require a corrected Disclosure Statement pursuant to G.S. § 47E-7, the new form will be used.

You will find the new form on the Forms page of this Web site under Consumer Forms. More information about the new form is available on page one of the October 2012 Bulletin.

BIC Eligibility

The Commission’s Broker-in-Charge Annual Review (BICAR) course is designed for and restricted to currently designated brokers-in-charge and brokers who are broker-in-charge eligible. A broker who is not a broker-in-charge or who is not broker-in-charge eligible will not receive credit for the BICAR course.

A broker is broker-in-charge eligible when he or she has been designated as a broker-in-charge and completed the Commission’s 12-hour Broker-in-Charge course. A broker may maintain that eligibility indefinitely, even when not serving as a broker-in-charge, by taking the Broker-in-Charge Annual Review (BICAR) course each license period. The BICAR satisfies the annual continuing education elective requirement. In addition, the broker must also take the mandatory annual Update course and timely renew his or her license.

From time to time a broker who has lost his or her designation or eligibility will take the course and not fully understand why he or she is not receiving continuing education credit. If you believe yourself to be a broker-in-charge or broker-in-charge eligible, select “Licensees Only” from the menu on the left side of the Homepage and check your status. Eligible brokers will be able to login and select a “BIC Eligible Document” verifying their current eligibility status. All others will not have this option available to them. If you are unable to print a “BIC Eligible Document” from this area of the Web site and feel that your record is incorrect, please contact the Commission’s Information Services Section at 919-875-3700, Ext. 772.

A broker may lose his or her status or eligibility to serve as a broker-in-charge for any of the following reasons: 1) the broker’s license expires or the broker’s license is suspended, revoked or surrendered; 2) the broker’s license is made inactive for any reason, including failure to satisfy the continuing education requirements; 3) the broker fails to complete the Broker-in-Charge Annual Review Course; or 4) the broker is found by the Commission to have not possessed the experience required at the time of either initial designation as a broker-in-charge or re-designation as a broker-in-charge.

Please take the time to consult the Commission’s Web site prior to taking the BICAR course to verify that the Commission’s records reflect that you are indeed a broker-in-charge or broker-in-charge eligible to ensure you will receive your continuing education credit.

Publications – New and Updated

The Commission has published a new Questions and Answers brochure, “N.C. Military Personnel Residential Lease Termination” and updated its Real Estate License Law and Commission Rules book.

The new brochure is free and focuses on questions regarding the rights of members of the U.S. Armed Services to terminate a lease contract under North Carolina and/or Federal law. It is part of an outreach program undertaken by the Commission to inform service members of these rights. Orders for the publication may be placed online using the order form for free publications linked from the Publications page of the Commission Web site or by printing and mailing or faxing the order form for free publications.

Updated to include all current law and rule changes, the July 2013 edition of the Real Estate License Law and Commission Rules is available for purchase online at $3 each using the order form for purchased publications. Its 116 pages include the Real Estate License Law, Commission Rules and the Commentary on the License Law and Commission Rules., The Commentary is provided to assist real estate licensees, prelicensing course students and others in understanding the law and the rules.

Schweidler, Little and Fisher Scholarships

At its June 2013 meeting, Chairman BC Cone and Vice Chairman Everett “Vic” Knight, on behalf of the Commission, together with North Carolina Real Estate Educational Foundation 2013 President Mitzi Malcolm, presented plaques to Ms. Geri M. Millinix (Charlotte) recipient of the Joe Schweidler Memorial Scholarship, and Ms. Katherine J. Pierce (Chapel Hill) recipient of the Blanton Little Memorial Scholarship.  Not able to attend was Mr. Richard P. Cooke (Hendersonville), recipient of the Phillip T. Fisher Scholarship.

These scholarships are awarded annually by the Real Estate Commission recognizing individuals for their academic achievements.  Ms. Mullinix and Ms. Pierce were selected by the North Carolina Real Estate Educational Foundation for achievement in REALTORS® Institute courses and Mr. Cooke was selected by the North Carolina Chapter of the National Association of REALTORS® Council of Residential Specialists for his achievements.

The Commission joined Mr. Cone, Mr. Knight and Ms. Malcolm in congratulating the recipients on their outstanding academic achievements.