Residential Real Estate Broker Industry Council Update Image

Residential Real Estate Broker Industry Council Update


Summary of Activities Since April

Education Divestment

The Industry Council worked with the other industry councils and the Board to facilitate the education framework to be approved for consultation. The framework consists of the exam blueprint, pre-licensing education philosophy, and course and course provider requirements. Feedback from stakeholders so far has been overwhelmingly supportive. Work has started on the residential real estate associate competencies,
which will be further consulted on and shared with stakeholders later this year.

Election Bylaw Criteria

The Industry Council worked with the Board to come up with the criteria for bylaws governing the elections for Industry Councils. These bylaws
must now be approved by the Minister.

Advertising, Incentives, and Guaranteed Sales

The Industry Council reviewed current complaint trends and is concerned with the disproportionate volume of complaints related to these three issues. We would like to remind licensees who have concerns about fellow licensees to attempt to bring their concerns forward, in a professional manner, to their colleague first. If the colleague disregards their concern, then they should bring it to the attention of their broker or broker delegate for discussion with the other broker. If the matter is not resolved after these steps, a formal complaint should be filed with RECA. If a colleague brings a concern to your attention, try to view it as an opportunity to collaborate and improve, rather than a criticism. Not dealing with these types of concerns from colleagues can result in it becoming an aggravating factor, if RECA issues a sanction.

RECA also has a guide to support licensees through the Voluntary Broker Resolution Process, which is designed to satisfy minor consumer complaints through discussion between the consumer, the industry professional, and their broker.

Residential Measurement Standard

The Industry Council discussed the history and the current landscape of the RMS and asked the Board to establish a Residential Measurement Standard Ad-Hoc Committee, which was approved at its July 29, 2021 Board of Director’s Meeting.

Non-reporting of Accepted Conditional Offers

The Industry Council continues to foster discussions regarding the non-reporting of conditional sales. We have received stakeholder input and legal opinions regarding the implications of the current practice. We look forward to gaining greater clarity on the issues, resulting in clearer guidance for licensees.