How to Get a North Carolina Real Estate License

Step-By-Step Guide to Become a Licensed Real Estate Broker in NC

Starting a real estate career in North Carolina is quite stressful but if you are well-informed about the necessary procedures, you won’t make the same mistakes that others will.

We have compiled the steps you need to follow to get a North Carolina real estate broker license. Check them out below.

Step 1: Take a North Carolina Real Estate Pre-Licensing Course

You’re required to take a “pre-licensing” education class where you’ll study the principles of real estate, contracts, and finance. Not a fan of school? Well, these real estate license classes in NC just might change how you feel about school. You have so many options! Some of them are even entirely online which has huge advantages! Online classes means you can do them at your own pace and work them in around your own schedule even if you have a full-time job. Also, the classes are only a total of 75 hours! That may seem like a big number, but to get started in a new career, that number is just a speck in time.

But what’s covered in those 75 hours? Some of the content you’ll cover in the pre-licensing courses are:

• Real estate law
• The law of contracts
• The law of agency
• Real estate principles

Go for a school that is intentional about your success, a school that has a great reputation, and one that has professional tutors. Ensure you take this course seriously because it will serve as a foundation for your career as a real estate broker in North Carolina.

Students are always surprised how affordable these classes are. Take a look at the best real estate schools in North Carolina and see for yourself. If you’re still looking for a way to save some dough, Agent Advice offers a way to get yours for free.

Step 2: Conduct a criminal record check

You cannot take the real estate exam in North Carolina without getting a criminal record report run. They only accept a report that has been pulled within six months of filing your application for a real estate broker license. There are substantial costs you will need to pay to get the criminal records to report for people that have lived in different states or people that have resided outside the US for seven years, or for people that have used different names previously.

You must have completed your 75 hour pre-licensing course before you can request a criminal record report. As soon as you request the criminal record report, you cannot get a refund for the fees.

Your criminal record report usually contains any misdemeanor convictions (traffic violations included) or felony convictions you have had. NCREC gathers all of your personal information that they need for them to be able to carry out their record search. They require a different fee for every state they need to search for, and every extra name they search for. So, the cost of getting a criminal record report is based on the number of places you have lived in, and the number of legal names you have used in the past.

Step 3: Apply for Your Real Estate License

Apply Yourself!

You flew through the pre-licensing class and you’re building momentum! Well, now it’s time to apply for your real estate broker license. Yes, there’s a few annoying forms and pesky fees but the process is relatively painless because it’s all online through NCREC. Within a few days you’ll get a letter of eligibility back. This letter doesn’t mean you’re finished, but it does allow you to complete Step 5 (taking the final exam). Once you get this letter the clock starts ticking and you have three years to pass that exam. Don’t panic, you’ve got this. With the pre-licensing course under your belt you’ll be well prepared.

Step 4: Pass the North Carolina Real Estate Exam

After paying your real estate exam fee, you can schedule your exam. When you apply for your real estate broker license, you will get a notice of the examination eligibility from NCREC. As soon as you get that notification, you can go ahead and schedule your State Licensing Exam with PSI, which is the approved state’s selected exam provider. You have three years from the date you filed an application to pass the examination.

The North Carolina real estate broker exam is split into two portions: the national portion and the state-specific one. Each of these contains different sets of questions designed to test your knowledge of the real estate sphere in the US and North Carolina. 

The national portion has 80 questions from the following areas: 

• Agency Relationships and Contracts 
• Real Property Ownership / Interest 
• Finance
• Real Property
• Marketing Regulations (Purchase and Rental)
• Property Management 
• Real Estate Calculations 

The North Carolina portion of the exam has 40 questions consisting of: 

• NC Real Estate License Law and Commission Rules
• Other NC Laws and Practices
• General Real Estate Topics

To pass the exam, you need to answer 75% of the questions from each portion correctly – 57 of the national and 29 of the state portion.

In North Carolina the broker exam is only taken electronically. Your results are given to you as soon as you finish taking the exam. If you pass, you are given a provisional license.

Step 5: Begin Post-Licensing Education

After passing your real estate exam, you will be able to practice as a licensed North Carolina real estate broker. However, the license is just temporary (a provisional broker’s license). You must finish your post-licensing education before the provisional status on your license is removed. The post-licensing course is a 90 hour course, and you are required to finish it within 18 months of licensure.

Step 6: Find a Managing Broker

After getting your provisional broker’s license, you are required to find a Managing Broker. Simply put, you have to work for a broker-in-charge, you cannot work independently.

You should know that you cannot enroll in a post-licensing course, without being licensed first. According to the North Carolina Real Estate Commission, you will not be granted post-licensing credit if you started the post-licensing course without first receiving your provisional real estate broker license.

Make sure you carefully choose a managing broker to work with. The broker you choose should be able to support your growth in the real estate industry.

You have total freedom to choose your managing broker. Here are some things agents look at when choosing a brokerage:

• Commission Rate
  • Look at each brokerage’s commission rate when you’re shopping around. If they’ve got a good rate, your commission checks will be larger than life. 💸
• Niche
  • Maybe you want a brokerage that focuses on a niche on a location or a specific category of real estate like commercial retail, single family homes, or fixer-uppers. So if you have a specific interest you can find a broker who shares that interest.
• Culture
  • Maybe the company’s culture is important to you. If so, get to know what they’re all about, how they work, and what’s important to them.

That’s all just to say that you have the freedom to choose a brokerage that fits you.

Mission Complete

Those are the steps you need to get your North Carolina real estate broker license. Yes, you might have to trudge through paperwork, check boxes, file forms, burn the midnight oil, chug coffee … but after all that … you’ll have your license. We recommend printing it out on super-gloss and framing it. Leave some room next to it for your first commission check; A LOT of room!  

That’s all folks! Once you make it through these steps you’ll have a brand new career as a North Carolina real estate broker ahead of you. If there’s anything we can do to help you make it through these steps please let us know. We’ve got pre-licensing classes, cram courses, and all sorts of resources to help.

NCREC requirements for becoming a real estate agent in NC

Let’s answer the most obvious question straight out of the gate. “What the heck is NCREC and why do I need to impress them?!” Well, NCREC is short for the North Carolina Real Estate Commission and it’s their job to make sure all real estate brokers in North Carolina are capable, qualified, and can lawfully work in the state. To do so, they have some basic criteria you must meet. Luckily, most of the requirements are pretty straightforward.

Let’s meet the criteria:

1. You must be at least 18 years old.
2. You must be a U.S. citizen or a lawfully admitted alien.
3. You must have a valid social security number. 

Those three are pretty cut and dry. The good news is that most of our visitors/users don’t need to worry about this first step. After fulfilling all of these prerequisites, you can then go-ahead and start the application process for a real estate broker license.

How much does it cost to get a real estate license in NC?

The overall cost of a real estate license in North Carolina depends on the prelicensing course you will take, as this takes up the most significant portion of the license costs. Each course is priced differently, but it generally starts at $200 and goes up depending on the school you choose.

The real estate broker licenses in North Carolina are issued at no charge, but the application fee is $30, and the exam fee is $66. If you fail the exam, the application fee increases to $100 besides the $66 for the exam fee.

All licenses in North Carolina expire on the 30th of June each year and should be renewed by then. The annual renewal fee for the real estate license is $45 and should be paid between the 15th of May and the 30th of June. A license paper pocket card can be issued to brokers upon the renewal of the license, which costs $5.

Here’s a breakdown of what you can expect to pay to become a North Carolina real estate agent:

• Pre-licensing: around $479
• License Fee: $100
• Exam Fee: $64 per attempt
• Background Check Fee: $50
• Cost of Optional Fees (Realtors’ Fees, etc.): $150-$500
• Renewal Fees: $100
• Continuing Education Fees: These vary according to the type of classes you are taking

How fast can you get your real estate license in North Carolina?

It takes every individual a different amount of time to finish the whole process of becoming a real estate broker. It mostly depends on how fast you complete the 75-hour pre-licensing coursework, apply, and pass the exam.  

The 75-hours prelicensing coursework can be completed in merely two weeks if you’re determined and dedicated towards becoming a realtor in North Carolina.  

Taking out a Criminal Report usually takes anywhere between 2 to 4 business days if you’re a resident of North Carolina. If you reside outside of the state, it may take longer, but a maximum of 3 weeks. 

If you’re approved to take the exam, you will receive a Notice of Exam Eligibility within 2 to 3 days after applying. The two portions of the exam should be passed within a 180-day period. After you pass the exam, your license will be issued within 7 to 10 days after passing the exam. 

All in all, the minimum time to finish the whole process is around1.5 months, depending on how long you’ll wait for the licensing exam. 

What’s the real estate agent salary in NC?

North Carolina agents bring in a median salary of $52,800. This breaks down to an hourly rate of $25.38. 

Here’s what agents can expect to make in North Carolina’s most high performing cities:

• Charlotte: $110,354
• Winston-Salem: $100,206
• Wilmington: $96,902
• Raleigh: $109,306
• Asheville: $97,924
• Fayetteville: $96,537
• Greensboro: $101,948
• Huntersville: $97,384
• Pinehurst: $93,647

How Much Do Homes Cost in North Carolina?

North Carolina homes cost around $330,000 on average. Prices have gone up by 17.9% over the past year. Here’s a breakdown on what you can expect to pay depending on the city you live in. 

• Asheville: $499,900
• Wilmington: $475,000
• Durham-Chapel Hill: $469,760
• Raleigh: $424,700
• Charlotte: $399,950
• Winston-Salem: $295,000
• Greenville: $252,000
• Mount Pleasant: $416,358
• Kill Devil/ Southeastern Shores/Kitty Hawk: $395,299
• Ocean Isla Beach: $385,794

What are Commission Splits Like in North Carolina?

Commission splits between North Carolina realtors are typically between 5% – 6%. The average is 5.60% per sale. 

The commission is further split with the brokerage. So how much will the brokerage take? The following list will give you some idea of what to expect.

• Beverly Hanks: 50/50
• Helen Adams: 70/30
• Century 21: 50/50, 70/30, 8% franchise fee (capping system)
• Allentate: 58/42
• Keller Williams: 70/30