Bill > S690

This bill introduces several changes across different areas of North Carolina law. First, it modifies the licensing procedures for real estate appraisers by introducing new terms like "Practical Applications of Real Estate Appraisal" (PAREA), which provides an alternative pathway for appraisers to gain experience through technology-based training and case studies. Under these new provisions, an applicant for certified residential real estate appraiser can complete an approved PAREA program and submit 15 appraisals, of which the Appraisal Board will review five for compliance. Second, the bill allows securities dealers to register salesmen with multiple dealers under common ownership or control, expanding previous restrictions. Third, the bill modifies landlord-tenant law by adjusting provisions for out-of-pocket expenses, specifically clarifying attorneys' fees that can be recovered in eviction proceedings, including limiting such fees to 15% of the amount owed or monthly rent. Finally, the bill allows real estate brokers to use contract forms that include provisions about broker compensation and earnest money forfeiture, and requires the Real Estate Commission to adopt rules consistent with this change. These modifications aim to provide more flexibility and clarity in real estate, appraisal, and rental practices in North Carolina.

Business and Industry, Government Affairs, Justice

https://www.ncleg.gov/BillLookUp/2025/S690