How long does a Qualifying Broker have to register an assumed name with NCREC?

How long does a Qualifying Broker have to register an assumed name with NCREC?

• A. 30 days
• B. 15 days
• C. 10 days
• D. Always upon business registration

Answer: (C)

A Qualifying Broker must register an assumed name with the North Carolina Real Estate Commission (NCREC) within 10 days of using that name. This requirement is in place to ensure that all business identities being utilized in real estate transactions are properly registered, which helps maintain transparency and protects consumers by ensuring they can easily identify the broker or firm they are dealing with. The established time frame allows the NCREC to maintain accurate and up-to-date records of brokers and their business names, which is important for regulatory purposes as well as for public notification. By requiring registration within this specific period, the Commission can aid in preventing any potential confusion regarding the identity of real estate professionals operating under various business names.

A Qualifying Broker must register an assumed name with the North Carolina Real Estate Commission (NCREC) within 10 days of using that name. This requirement is in place to ensure that all business identities being utilized in real estate transactions are properly registered, which helps maintain transparency and protects consumers by ensuring they can easily identify the broker or firm they are dealing with.

The established time frame allows the NCREC to maintain accurate and up-to-date records of brokers and their business names, which is important for regulatory purposes as well as for public notification. By requiring registration within this specific period, the Commission can aid in preventing any potential confusion regarding the identity of real estate professionals operating under various business names.