Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming a real estate agent in North Carolina start on the quest to build a business that offers more of a flexible schedule.
Others want to simply break the glass ceiling and enter a career that rewards them for all the hard work and effort they invest into it. If you are tired or feel stuck in an unrewarding job, now might be the perfect time to chase your goals and become a real estate agent.
Do you have what it takes to work as a North Carolina Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in North Carolina.
How To Become A Real Estate Agent In North Carolina?
- Must be at least 18 years old
- There aren’t any formal educational barriers in order to receive an agent license
- Complete 75 Hours of your real estate Pre Licensing Course
- Complete Background Check
- Schedule your exam with PSI exams
- Pass the North Carolina Real Estate Exam with a 75% score or higher
- Submit license application
- Complete 3 post-licensing requirements courses (a total of 90 Hours)
- Pick a Broker in Charge (BIC)
Choose Your School And Sign Up For Classes
Before you can start listing million dollar homes, the very first step toward getting your North Carolina License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.
North Carolina Real Estate Classes
Get ready for some classroom time! To become a licensed real estate agent in North Carolina, you must first complete your state’s mandatory education requirements. In total you will be required to complete 60 hours of state approved courses for pre-licensing.
Click here for state approved real estate classes and pricing. The good news is that the state of North Carolina allows you to take a portion of your real estate classes online. This is great because it will allow you to complete the course at your own pace and even possibly speed up the process if you put in the hard work.
In North Carolina, there are additional required courses that must be taken within 18 months of maximum in order to apply for your real estate license. Moreover, these courses should be taken in person or via a live camera class. This total an additional 90 hours of classroom time. After successful completion, you must provide evidence of completion of each of these courses. The 90 hours of classroom time are divided into 3 crucial parts:
- 30 hours of Broker Relationships and Responsibilities.
- 30 hours of Contracts and Closings.
- 30 hours of selected topics.
North Carolina Pre-licensing Education Requirements
You must complete 75 hours of state approved real estate pre-license education and 90 hours of Courses.
- 60 Hours Of State-Approved Real Estate Classes
- 30 hours of Broker Relationships and Responsibilities.
- 30 hours of Contracts and Closings.
- 30 hours of selected topics.
Keep in mind you must score a 75% or higher on each final exam. So, it is important to pay close attention in class.
What Will I Learn In My Pre-License Classes?
I remember sitting in my real estate pre-licensing class. For many, real estate is like learning an entirely new language. In class you will learn many new things.
One of the most important is state laws as they relate to you as a real estate agent. This will help keep you out of legal trouble once you get out in the field and start practicing real estate. Here are some subjects you will learn about in real estate school.
- Real estate math
- Land use laws and regulations
- Fair Housing laws
- Real Estate Financing
- Contracts
- Transfer of title
- Brokerage relationships
- Disclosures
- Property analysis
- Rules of the Iowa Real Estate Commission
- License law
- Ethics
- Agency Laws
To become a licensed real estate agent in North Carolina, you must first complete your state’s mandatory education requirements. In total, you will be required to attend 75 hours of state-approved courses for pre-licensing.
Schedule Your North Carolina Real Estate Salesperson License Exam
In North Carolina your real estate exam will be taken with PSI Exams. It is recommended you call and schedule with a customer service representative. Here are a couple of important things to know.
- The test can be taken by computer at the testing center.
- This is not an open book test.
- The test must be scheduled at least one day in advance.
Current PSI Test Locations in North Carolina: Testing Locations
North Carolina Real Estate License Background Check
Any person applying for a North Carolina real estate license must be fingerprinted and pass a background check. The current cost is $18 for the service.
North Carolina law requires all real estate license applicants to get a background check. This process can take 3-7 days to complete.
What Is The Best Way To Study For The North Carolina Real Estate Exam?
Many people fail the North Carolina real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exams the first time around. The bad news is that it costs money to retake your exam. At the time of writing, it is $64 to take the North Carolina Real Estate exam.
To increase the chances of passing your exam the first time, we recommend checking out Prep Agent. This study tool gave me and many other agents a huge boost in confidence when taking the real estate exam.
In fact, Prep agent is so confident in their study tool that they offer a 100% refund if you use the tool and fail your real estate exam.
What Do You Need To Bring When Taking The Exam At A Testing Center?
Don’t show up on test day only to be turned down. You will need to bring two forms of identification that have not expired and have a matching name and signature. One form of identification must have a photo to qualify. Here are some examples of acceptable identification.
- Driver’s license
- US social security card
- Passport
- Debit Card with Signature
- Credit Card with Signature
- Green Card
You are allowed to bring a basic non-scientific calculator that can be used for the math portion of the exam.
How Long Will I Have To Complete The North Carolina Real Estate Exam?
There are two portions to the exam:
- General (National) Portion – 120 minutes
- State Portion – 90 minutes
- Total – 210 minutes
Number of Questions on Salesperson’s License Exams:
- National – 80 questions
- State – 40 questions
- Total- 120 questions
The North Carolina Real Estate exam is split up into two real estate exams – one state and one national. You will have a total of 240 minutes to complete both. (3.5 Hours)
You will have 90 minutes to complete the North Carolina State portion of the exam. You will have 120 minutes to complete the national portion of the exam. Some people even complete their exams early. Do not stress you have 3.5 hours to focus and get this done.
Pass Or Fail- How Long Does It Take To Get Results?
Taking the real estate exam can be nerve-racking. Once complete we all become anxious and want to know if we passed or failed the big test. The good news is that you will know the results immediately after you complete your exam.
Can I Retake The Real Estate Exam If I Fail?
Yes, if you fail you can retake the real estate exam. After a 10 day gap of failing an exam, you can sit for a retake. First you have to submit a new registration form along with an application fee of $100 and the $64 examination fee to retake the exam.
But stay positive, many agents have failed the real estate exam multiple times and have gone on to have very successful careers.
How Long Does It Take To Become A Licensed Real Estate Agent In North Carolina?
I am sure you are excited and want to get licensed ASAP. You should expect the process to take about 4 to 5 months to become a North Carolina Real Estate Agent. The two most time intensive parts of the process are completing your 75 hours of real estate pre-license classes, your 90 hours of additional coursework, and then completing your 8 hours of CE courses.
Aside from just completing your real estate classes and studying, you will need to spend your time doing other important things like interviewing brokerages and deciding which one is the right fit for you and your new business.
This is just an average timeframe. Keep in mind everyone works at a different pace. If you are taking some of your courses online, you may be able to work through the course work a little faster, or maybe it takes you a little more time to get through the course work.
Either way try not to overwhelm yourself and focus on getting a little further along in the process each day. Many people set out on the journey to become a Vermont agent and quit before they even start because they simply overload themselves with work. Keep the focus on working toward your goal little by little each day.
How Much Does It Cost To Get A North Carolina Real Estate License?
It will cost around $800-$1100 to get a North Carolina Real Estate License. Some of these costs are fixed, such as the FBI background check and exam fee.
Total North Carolina Real estate license maximum cost estimate $1082.
Sign up for North Carolina Real Estate Classes Here: Kaplan Real Estate Education.
Note- These are just averages and subject to change at any time.
Does North Carolina have reciprocity with any other states regarding a real estate license?
North Carolina has reciprocity agreements with ten other states, and they are:
- Arkansas
- Georgia
- Louisiana
- Nebraska
- Connecticut
- Mississippi
- South Carolina
- Iowa
- Tennessee
- West Virginia
How To Choose The Right Brokerage?
Selecting your broker is a business choice that we all have to make at some point in our careers. As a new agent, you likely do not know what to look for or what questions to ask. As an experienced agent who has worked at multiple offices, here are some things to consider.
Training – This is important. One of the biggest complaints I hear from new real estate agents is how lost they often feel. Many times they feel the brokerage they choose to partner with has poor mentorship or even worse, no mentorship at all. When interviewing brokers, it is important that you ask if they have a mentorship program in place for new agents. If the answer is yes, make sure you dig deeper and ask how the program works. What are the expectations for the new agent, and what are the expectations for the mentor? You need to find out how much support and training they actually provide.
Splits – Every brokerage offers a different compensation model, and as a new agent, this is important to consider. However, do not make this your main focus. I see many new agents make commission splits, the main reason they choose a brokerage. This can be a huge mistake. Focus on what kind of value and training is being offered for that split. The harsh truth is that 100% of nothing is still nothing.
Ongoing monthly fees – Some brokerages charge monthly fees to stay apart of the company. This is something to consider if you have a small savings account. As a new agent, you might be looking to stretch your dollar until you get a couple of closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.
Commission Cap – Every brokerage and market is different, but on average, we have seen the brokerage cap between 14k-21k. Once you pay that amount into the brokerage, your commission will shift to 100% in some cases with a small broker transaction fee.
Conclusion
Becoming a real estate agent in North Carolina is something worth working towards. To make this all happen, it is going to require work and consistency, but if you love the idea of selling homes in Durham, Charlotte City, or any other city in North Carolina, it is worth all the effort and hard work to make your dream become a reality.
Study hard and do not quit even if you fail your exam the first time around. Many of the greatest agents I know today in my local market did not pass the exam the first time around.