When we use the term first renewal it's used to refer to brokers who are renewing their license for the first time. Practically, this is the real estate education required by the Washington department of licensing for any broker who has been licensed for less than 2 years, since Washington requires renewal every two years.
The education for first renewal students is 90 clock hours of coursework, broken down into the following hours and topics:
Every renewal after your first is the same, 30 hours every 2 years. 24 hours of elective credit and 3 hours of Current Trends and Issues (CORE) as well as 3 hours of Fair Housing.
It's the same title every time, but the course is new every two years. The state comes up with a new curriculum to cover what is current in real estate. For example, for one CORE had a large focus on financial fraud, foreclosures and short sales, while another core had a lot of information about mold and disclosure issues.
Realestateschool.org's most popular package includes all of the required courses and hours approved by the state in one convenient package. Here's a brief description of our most popular first renewal package: Complete First Renewal Includes Your Choice of Electives (with New 6 Hour Fair Housing Requirement)
Many brokers take extra hours during their first two years as they seek to learn more about their new business. That's why they often end up with more than 90 clock hours at the end of their first two years in the business.
It depends. There are two groups in this scenario and it's dependant on how late you are in renewing. If you are under one year late, you simply need to complete your education and pay your license fee along with a small fine. There is not additional requirements in this case. If, however, you are more than one year late in renewing your license, you will have lost your license and will need to complete the required education, retake the state exam to become a broker again, as well as pay the initial licensing fees.
Our best advice is to keep your license up to date! It's much cheaper in terms of money and time to renew your license on time. Also, you avoid potential legal problems.
None. It's critical you do not perform any activities which requires a license, including but not limited to: buyer agency, seller agency, talking to clients, or even showing houses. If you do while not renewed, the state will consider you in violation of license law, since you would be operating as a broker without a license.
If you are late, use your collegues to field your client calls until you have submitted to the state for renewal.
No, broker's are considered renewed when they submit all the fees and documentation required to the DOL. This can be done online through the DOL's online portal, or by mailing the paperwork and check. If mailed, the date it's postmarked is considered the renewal date. We don't recommend you cut it close enough to worry, but it's important to know the exact date in case of late renewal.
No, but print out your certificates and maintain the records. The state randomly audits the records of brokers to verify compliance.
Absolutely. We will keep track of all of your education completed with us and you're welcome to log in and print your certificates or call our office if you ever lose your copies.
Most often, yes. Check with a tax professional regarding your specific situation to verify.
If you happen to have extra unused clock hours, you can use up to fifteen continuing education hours for your next renewal. The Washington DOL rules are that the hours must have been completed within 48 months (4 years) of the renewal they are being used for. Keep in mind, course hours cannot be split up, so, a student can't use extra hours from a course which was already claimed for credit, even partial.
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