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On July 1, 2014, the broker license will become the initial license in the real estate profession in Indiana. Those who hold real estate broker licenses of any kind will automatically be issued a new license number.
RenewalReal estate broker license renewal has typically occurred in years ending in odd numbers. The renewal that would have taken place in 2013, however, has been moved forward to 2014. This has been done to align the renewals of salespersons and brokers, for the license transition. Renewal in 2014 will begin at the normal time period, about three (3) months before June 30, 2014.
Because the license renewal for 2013 has been changed to 2014, this means the required continuing education for the next license renewal has been changed. The requirement for the period from July 1, 2011, to June 30, 2013, will continue to be the sixteen (16) hours of continuing education, with six (6) mandatory hours and ten (10) elective hours. For the period of July 1, 2013, to June 30, 2014, brokers wanting to renew their license will need to complete eight (8) hours of continuing education.
Broker Transition Course
Individuals licensed as real estate brokers will not need to complete the broker transition course during the license transition period.
Brokers in “Referral” status will be issued a new license number, along with all other brokers. Any broker wishing to reactivate their license after July 1, 2014 will not need to complete the broker transition course, but will have to complete the required continuing education for the previous renewal cycle to reactivate the license.
The Indiana Association of Realtors has created a video specific to the license law changes for current brokers. Please click here and select "Current Brokers" or "Current Principal Brokers" for more information about the update.