What is required when a provisional broker terminates their relationship with a firm?

When a provisional broker terminates their relationship with a firm, the designated broker-in-charge (BIC) is responsible for notifying the North Carolina Real Estate Commission (NCREC) within 10 days. This requirement is in place to ensure that the NCREC maintains accurate and up-to-date records regarding the licensing status of provisional brokers and their affiliations with licensed firms. The designated BIC plays a critical role in overseeing the practices of provisional brokers and is obligated to communicate changes regarding their status, which helps protect consumers and uphold industry standards.

This protocol attached to the role of the BIC reflects the regulatory framework that governs real estate practices in North Carolina, emphasizing the importance of timely communication with the regulatory body to maintain compliance and accountability within the real estate profession.