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Licensing Requirements for Real Estate Auctions in North Carolina

• Real estate auctions in North Carolina are regulated by two separate regulatory boards.

• Licensing requirements vary depending on the entity conducting the sale.

• If the owner or the attorney for the owner is selling real property "by owner," a licensed auctioneer can be hired to be the "mere crier of the sale" but cannot engage in acts for which a real estate license would be required.

• If a person is a licensed auctioneer and a licensed real estate broker and the business is a sole proprietorship, no further licenses are required.

• If an entity is a licensed real estate broker but not a licensed auctioneer, the sole proprietor or individual broker employed by a licensed brokerage firm must obtain an auction firm license to handle all aspects of the real estate auction except bid calling.

• If an entity is a licensed auctioneer but not a licensed real estate broker, they must obtain both an auction firm license and a real estate firm license, which can be a problem if the business is a sole proprietorship.

• An entity that is neither a licensed auctioneer nor a licensed real estate broker who wants to sell real estate at auction must obtain both an auction firm license and a real estate firm license, and the business structure may need to be changed prior to obtaining a real estate firm license.

• Many licensed auctioneers have misconceptions about selling real estate and bringing in a broker, which is unlawful under both the Real Estate License Law and the Auctioneer License Law.

• The North Carolina Auctioneer Licensing Board met nine times and issued 81 auctioneer licenses, 7 apprentice auctioneer licenses, and 28 auction firm licenses from November 2006 to July 2007.

• The Board also conducted four auctioneer licensing examination sessions and gave six auction firm exams during the same period.

• The Board denied licensing to five auctioneer applicants and four auction firm applicants.

• The Board conducted two administrative hearings and five settlement conferences, and attended several conventions and seminars related to the auctioneering profession.Report on North Carolina Auctioneer Licensing Board Activity

• The North Carolina Auctioneer Licensing Board reported on its activities for a specific period.

• The Board took disciplinary actions against several individuals and firms for violating auctioneer licensing rules.

• The actions included license suspensions, fines, and probation with specific terms.

• The violations ranged from conducting auctions without a valid license to failing to account for or pay auction proceeds.

• Some of the individuals and firms waived their right to appeal and accepted the Board's findings of violations.

• One individual's license was permanently revoked for violating auctioneer licensing rules in another state.

• No letters of reprimand were issued during the reporting period.

• However, the Board issued 11 cautionary letters for various reasons, including unprofessional conduct and commingling funds.

• The Board also reported the reappointment of Jesse Meeks as a Board member.

• Meeks is a licensed auctioneer, real estate broker, and appraiser with unique sales experience.

• Meeks has been a Board member since 2003 and currently serves on the Board of Directors for the Auctioneers Association of North Carolina.

• The Board's actions aim to ensure compliance with auctioneer licensing rules and protect the public from fraudulent practices.

Licensing Requirements for Real Estate Auctions in North Carolina

• Real estate auctions in North Carolina are regulated by two separate regulatory boards.

• Licensing requirements vary depending on the entity conducting the sale.

• If the owner or the attorney for the owner is selling real property "by owner," a licensed auctioneer can be hired to be the "mere crier of the sale" but cannot engage in acts for which a real estate license would be required.

• If a person is a licensed auctioneer and a licensed real estate broker and the business is a sole proprietorship, no further licenses are required.

• If an entity is a licensed real estate broker but not a licensed auctioneer, the sole proprietor or individual broker employed by a licensed brokerage firm must obtain an auction firm license to handle all aspects of the real estate auction except bid calling.

• If an entity is a licensed auctioneer but not a licensed real estate broker, they must obtain both an auction firm license and a real estate firm license, which can be a problem if the business is a sole proprietorship.

• An entity that is neither a licensed auctioneer nor a licensed real estate broker who wants to sell real estate at auction must obtain both an auction firm license and a real estate firm license, and the business structure may need to be changed prior to obtaining a real estate firm license.

• Many licensed auctioneers have misconceptions about selling real estate and bringing in a broker, which is unlawful under both the Real Estate License Law and the Auctioneer License Law.

• The North Carolina Auctioneer Licensing Board met nine times and issued 81 auctioneer licenses, 7 apprentice auctioneer licenses, and 28 auction firm licenses from November 2006 to July 2007.

• The Board also conducted four auctioneer licensing examination sessions and gave six auction firm exams during the same period.

• The Board denied licensing to five auctioneer applicants and four auction firm applicants.

• The Board conducted two administrative hearings and five settlement conferences, and attended several conventions and seminars related to the auctioneering profession.Report on North Carolina Auctioneer Licensing Board Activity

• The North Carolina Auctioneer Licensing Board reported on its activities for a specific period.

• The Board took disciplinary actions against several individuals and firms for violating auctioneer licensing rules.

• The actions included license suspensions, fines, and probation with specific terms.

• The violations ranged from conducting auctions without a valid license to failing to account for or pay auction proceeds.

• Some of the individuals and firms waived their right to appeal and accepted the Board's findings of violations.

• One individual's license was permanently revoked for violating auctioneer licensing rules in another state.

• No letters of reprimand were issued during the reporting period.

• However, the Board issued 11 cautionary letters for various reasons, including unprofessional conduct and commingling funds.

• The Board also reported the reappointment of Jesse Meeks as a Board member.

• Meeks is a licensed auctioneer, real estate broker, and appraiser with unique sales experience.

• Meeks has been a Board member since 2003 and currently serves on the Board of Directors for the Auctioneers Association of North Carolina.

• The Board's actions aim to ensure compliance with auctioneer licensing rules and protect the public from fraudulent practices.