If a BIC loses their status, what is the first step they must take to regain it?

To regain their status as a Broker-in-Charge (BIC) after losing it, the first crucial step is to ensure their license is current and active. This is fundamental because a BIC must have an active license to fulfill their responsibilities, including supervising provisional brokers and ensuring compliance with real estate laws and regulations.

Once a broker's license has lapsed, it is essential to reactivate it before they can pursue additional steps that may involve applying for BIC status again or meeting further qualifications. Reactivating the license is a prerequisite that must be satisfied to take any further action related to regaining BIC status.

Other options, like re-qualifying as a provisional broker or completing a new training program, may be relevant under specific circumstances, but they do not directly address the immediate need to have an active license. Affiliation with a new firm is similarly important but only comes into play after ensuring that the license stands active and can support the BIC responsibilities. Therefore, getting the license current and active is the very first and essential step toward regaining BIC status.