Every hopeful North Carolina broker needs a broker-in-charge to receive an active license and start making money. But - what is a broker-in-charge, and what do they do?
Among other things, a broker-in-charge is responsible for:
- Mentoring the provisional broker they sponsor.
- Holding the license of the provisional broker they sponsor.
- Collecting commissions on transactions and making payouts to provisional broker.
- Providing office space.
- Providing documents, supplies, etc.
Brokers-in-charge are held to a high standard because they’re seen as experienced professionals who understand the real estate industry. They have to be careful to supervise their provisional brokers’ activity since they’ll get in just as much hot water if a provisional broker violates the state rules and regulations.