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How to Become a Commercial Real Estate Agent in North Carolina

Published: 07-24-23 Category: Marketing

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North Carolina is home to one of the fastest-growing real estate markets in the south, with strong rental performance and growth between 2020 and 2022. With a strong retail, industrial, and office space market, North Carolina can be a great place for fledgling commercial real estate agents to spread their wings and set down roots.

Here, we'll cover everything you need to know about how to get your real estate license in North Carolina and get started on a career as a commercial real estate agent.

Let's get started.

North Carolina Real Estate License Categories

When it comes to real estate licensure, North Carolina tends to differ from other states: Instead of separate real estate agent and broker licenses, there are only broker licenses. North Carolina broker licenses are divided into three levels:

A provisional broker is the lowest designation and must work with a supervising broker;
Brokers are the second license level and can buy and sell property independently; and,
Broker-in-charge is the highest level and these brokers can supervise provisional license holders.

After getting your provisional broker license, you must complete more education to get your full broker license. If you are a provisional broker, your supervisor must be a licensed broker-in-charge.

How to Get Your Commercial Real Estate License in North Carolina

There are only two eligibility requirements to get your real estate license in North Carolina:

You must be at least 18 years old; and
You must be a US citizen or legal resident.

You do not have to have a high school diploma or even live in the state to become a real estate agent in North Carolina. If you have more specific questions about eligibility requirements, you can consult the North Carolina Real Estate Commission (NCREC) licensing handbook.

#1 – Finish 75 Hours of Pre-Licensing Education

The first step is finishing a state-approved real estate pre-licensing course, like one of those listed below:

The course consists of 75 hours of in-person or online instruction. You can also satisfy the education requirement with an equivalent course from another state, as long as it has at least 75 hours of instruction.

You can skip the pre-licensing education if you have a bachelor's degree or higher in real estate from an accredited four-year college. If you take the course, your results are valid for three years after passing the final exam.

#2 – Submit a License Application

In North Carolina, you have to submit an application first before you can take the license exam. You can fill out the application online or print and mail a physical copy to the NCREC. The application fee is $100 and there is also a $15 fee for a criminal background check.

Once the NCREC approves your application in two to three days, you'll receive a Notice of Exam Eligibility that allows you to take the license exam. You have 180 days to schedule and take the exam before the notice expires.

#3 – Pass the License Exam

The North Carolina broker license exam is multiple-choice and consists of 80 national-level questions section and 40 state-level questions. To pass, you must answer at least 57 and 29 questions correctly on the national and state sections, respectively.

The test itself is divided into 22 topics on various real estate topics, like finance, contract law, regulations, land use policies, and investment. There will also be 10 to 15 pre-test questions that are not graded, which are used as data for creating future tests. If you fail, you have to wait 10 days to retake the test, but there is no limit to attempts.

#4 – Find a Sponsor Broker

Provisional real estate brokers have to work with a supervising broker-in-charge to buy and sell real estate. Your broker-in-charge will be responsible for overseeing your work and making sure you are following all requirements. Your sponsoring brokerage will also help you make the network connections you'll need to succeed in the CRE business.

Some important questions to ask when searching for a broker include:

How do they pay their brokers?
Is there opportunity for advancement or promotion?
Will they support your continuing education?
What type of property do they specialize in?
What is the management structure like (i.e., hands-off or involved)?

Your broker-in-charge must activate your provisional license by submitting a License Activation Form (REC 2.08). Before that, your provisional license will remain inactive.

#5 – Complete 90 Hours of Post-Licensing Education

All provisional brokers have 18 months to complete an additional 90 hours of post-licensing education. These 90 hours are split between three 30-hour courses:

301: Broker Relationships & Responsibilities;
302: Contracts & Closing; and
303: NC Law, Rules & Legal Concepts.

After completing the courses and passing the final exam, the NCREC will automatically remove your provisional broker status and you'll be able to work as a full real estate broker.

Renewing Your North Carolina Real Estate License

All real estate licenses in North Carolina expire on June 30 of the current year. You must take 8 hours of continuing education (CE) credits to renew. These 8 hours must consist of a General Update Course (GENUP) and an elective. You can submit course completion documents and renew your license online at the NCREC website.

It's important to note that post-licensing education and CE are separate requirements. Post-licensing courses will not count towards CE credit hour requirements and must be completed separately in addition to CE credits.

How to Become a Broker-in-Charge in North Carolina

The highest broker license level in North Carolina is a broker-in-charge (BIC). BICs are allowed to work independently and supervise provisional brokers. To become a BIC, you must meet the following three conditions:

Be a full broker (not provisional);
Have two years of experience as a broker within the past five years; and
Complete the 12-hour state-approved BIC course.

Once you complete the course, the NCREC will upgrade your broker status to BIC. You can activate and deactivate BIC status by submitting a form.

North Carolina Commercial Real Estate Agent Average Salary

According to data from ZipRecruiter, the average salary for a commercial real estate agent in North Carolina is $81,137 — about 19% lower than the national average salary for commercial real estate agents ($100,487). Top-paid agents in the state earn over $140,000 annually. The city with the highest average salary for commercial real estate agents in North Carolina is Greensboro at $100,616.

Job Outlook for Commercial Real Estate Agents in North Carolina

Based on NAR 2023 membership rolls, there are approximately 54,000 active real estate sales agents in North Carolina — down 1.3% from 2022. North Carolina has the sixth-highest number of agents in the nation, above Arizona and below New Jersey.

North Carolina's commercial real estate market is currently undergoing a slight lull after a few years of sustained growth. In particular, industrial, retail, and multifamily saw strong performance in 2022, indicating a growing need for experienced commercial real estate agents.

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