In North Carolina, real estate brokers are required to complete 8 hours of Continuing Education (CE) each license year to maintain their active status.
The deadline for completing the required CE courses is June 10, 2023. Failing to meet this deadline can have a significant impact on a licensee's career, including financial and legal consequences. In this article, we'll explore the potential risks and repercussions faced by those who fail to fulfill their CE obligations by the deadline.
License Deactivation and Lost Income
One of the most immediate consequences of failing to complete the required CE hours by the deadline is license deactivation. A deactivated license means a licensee is no longer authorized to practice real estate in North Carolina. This can lead to a significant loss of income, as any transactions that require a licensed agent cannot be legally completed until the license is reactivated.
Reactivation Fees and Course Costs
To reactivate a deactivated license, the licensee must complete all outstanding CE hours and pay a reactivation fee. This process can be costly, as it requires enrolling in additional courses and potentially missing out on professional opportunities while working to meet the requirements. Additionally, licensees may be subject to increased course fees for post-deadline CE classes.
A deactivated license can also harm a real estate professional's reputation. Clients and colleagues may question the agent's competence and dedication to their profession if they discover the agent has allowed their license to lapse. This negative perception can make it more challenging to rebuild a client base and re-establish professional relationships once the license is reactivated.
Increased Risk of Regulatory Violations
Licensees who fail to stay up-to-date with their CE requirements are more likely to be uninformed about changes in real estate laws, regulations, and industry best practices. This lack of knowledge can lead to inadvertent violations of state regulations, which may result in fines, penalties, or even legal action.
Inactive License and Potential Expiration
While the North Carolina Real Estate Commission (NCREC) will not revoke a license solely for failing to complete CE, the license will remain inactive until the CE requirements are met. If a licensee fails to pay their renewal fee while their license is inactive, the license will expire, effectively ending their ability to practice real estate in the state. To avoid this outcome, it is crucial for licensees to fulfill their CE requirements and pay their renewal fees in a timely manner.
CE Deadline is 60 Days Away
Fulfilling the North Carolina real estate Continuing Education requirements is essential for maintaining a successful career in the industry. The consequences of failing to meet the CE deadline can be severe, ranging from financial loss to potential license expiration. To avoid these potential pitfalls, licensees must prioritize their education and take proactive steps to ensure they complete their required CE hours by June 10, 2023.