What happens if a broker does not renew their license?

When a broker does not renew their license, the license becomes expired. An expired license means that the broker can no longer legally engage in any real estate activities, as they are not authorized to operate under an expired status. It is important for brokers to be aware of the renewal deadlines and requirements in order to maintain their ability to practice real estate without interruption.

While the concepts of inactive and suspended licenses may seem related, they refer to different status levels which result from different circumstances. An inactive license can occur when a broker chooses not to engage in real estate rather than missing renewal deadlines. Understanding the difference between these statuses is crucial for brokers to ensure compliance and maintain their professional standing.