What are errors and omissions insurance?

Once you have passed North Carolina’s license exam and the Commission has deemed you to be of good character, you will be qualified for licensure. You can expect to receive your license certificate in the mail at the address you provided on your application form in up to 10 business days.

Errors and omissions insurance, which is often referred to simply as E&O insurance or even professional liability insurance, helps protect you from lawsuits claiming you made an error while providing professional real estate services. If a lawsuit is brought against you, it can help cover court costs or settlements.

It is advisable to complete and submit your application online. You can expect to include the following with your provisional broker license application:
- The application.
- Proof of satisfactory completion of pre-licensure education.
- Criminal background report.
- Payment of $100 application fee.

Successful completion of the state license examination does not guarantee issuance of a provisional broker license. Licenses are only granted to people found to be of good character. Each application that contains a character issue will be reviewed by the Commission and a decision made on a case-by-case basis.