Brokers: are required to renew their licenses by June 30 of even numbered years and attest to having completed 36 hours of continuing education courses. They are also required to pay a renewal fee to the State of Indiana.
If a license is not renewed by June 30 it will expire. An expired license may be reinstated within 120 days by payment of a $20 penalty fee in addition to the renewal fee. After 120 days, the licensee must pay a $100 penalty fee and the regular renewal fee.
If a license is not renewed within 18 months of the expiration date, the license is terminated and the licensee must retake and pass the examination, submit a new application fee within 120 days of passing the State examination.
In order to renew a real estate broker license, a licensee must acquire (12) hours of continuing education each year during licensure period UNLESS the licensee has an inactive license or has been granted a waiver.
Failure to complete required continuing education hours - penalties
Your license will not be renewed if you have not completed
the continuing education required
for each renewal. Licensees who fail to renew their license and practice on an invalid license, and the Broker with whom they are affiliated, are each subject to a $1000 civil penalty in addition to other possible sanctions.
The sanctions for non-compliance with the continuing education
requirements include a $500
civil penalty in addition to paying the costs of the hearing. Licensees would also be ordered to
take those CE courses that they did not attend. Licensees who submit false information on their
license renewal concerning CE face a two year license suspension.
Deficient CE hours may be made up during the next license cycle. HOWEVER, you would still be required to renew your license within eighteen (18) months of expiration. Failure to renew within this time period would require you to take and pass the appropriate state examination for re-licensure.
If you do not intend to perform any act that would require
a salesperson or broker license, you
may request (at time of renewal ONLY) an inactive license. Inactivating your license is a little
like placing it in limbo ....your license is removed from its previous license status (affiliated,
unaffiliated, etc.) and effectively "shelved" until you reactivate it. An individual may hold an
inactive license indefinitely provided he/she requests "inactive" status upon license renewal and
pay the appropriate renewal fee.
Reactivating an inactive license
In order to reactivate an inactive license during a two (2) year licensure period, the licensee must obtain the sixteen (16) hours of continuing education required by IC 25-34.1-9-11(1) and IC 25-34.1-9-11(2) for that two (2) year licensure period and pay a ten dollar ($10) fee.
Waiver of Continuing Education Requirements
A licensee may be granted a waiver of continuing education courses if one of the following are met:
This term refers to any principal broker (whether a sole proprietorship,
etc.) with whom a licensee is affiliated for the sole purpose of making referrals. A licensee who
is affiliated with a "referral company" is exempt (or waived) from continuing education
requirements. This individual will receive a license stating that he/she is "active for referral
Removing oneself from an "active for referral only" status
An "active for referral only" licensee may perform
other acts which require a real estate license
ONLY if one of the following occur: (1) at the time of license renewal, the licensee requests a
change of license status on the license renewal form and provides proof of sixteen (16) hours of
continuing education, OR (2) during the license cycle, the licensee fills out a "Change of License
Status" form, provides proof of (16) hours of continuing education and pays a ten dollar ($10) fee.
Again, a change of license status in "mid-cycle" will require you to submit proof of sixteen (16)
hours of continuing education.