As a result of SB17-215 (Concerning the Continuation Under the Sunset Law of the Division of Real Estate), a real estate broker license will now be renewed on or before December 31 of every third (3rd) year after issuance. All licensees will eventually be on a calendar year cycle for their license renewal. In order to accommodate this transition to a calendar year cycle, the Division of Real Estate has established a transition period for license renewals and reinstatements. What does this mean for you as a real estate broker?
Everyone must renew their license on its upcoming renewal date.
A license expiring on one’s anniversary date in the years of 2018, 2019, or 2020, will be renewed for a period of time equal to two (2) years plus the remaining days in the third (3rd) year to reach December 31. (The length of the transition period is dependent on the anniversary date and could be as long as three (3) years or as short as two (2) years and one (1) day.) Licensees are required to complete the mandatory continuing education requirements during the transition licensing period. Thereafter, a licensee will renew a license on a calendar year cycle commencing on January 1 of year one (1) and expiring on December 31 of year three (3). There will be a proration of renewal fees based upon the time of expiration.
VanEd will be providing the Transition course and will update our students as this course becomes available and required.
Written and Published by: VanEd