December 2023 – What’s Happening at RECA
| November 30, 2023
RECA’s modernized governance model consists of a Board of Directors and four Industry Councils representing each industry RECA regulates.
This general summary includes the key activities of the Board and all Industry Councils over the last quarter.
SURVEY CONSULTATION FOR PHASE 2 OF RULES REVIEW COMPLETE
The first part of consultation on Phase 2 of the Rules review has closed for feedback.
Phase 2, Part 1 was focused on further aligning the licensing structure with the current governance structure and licensee notification requirements. Thank you to the thousands of valued stakeholders who participated in the consultation and completed the survey that was sent to all licensees.
Part 2 of Phase 2 will begin shortly, where stakeholders will be consulted for feedback on the proposed Rule changes for Practice Standards (Rules 41-80.89). Licensee feedback will be collected via a survey just as it was in Part 1, and through a Town Hall and brokerage presentations. Part 3 will involve the consultation on the proposed changes to records, reporting, and the remaining Rules (Rule 82-118.3 plus Schedules 1-5).
Please be aware that the proposed changes are proposals only. Nothing has been decided nor implemented by RECA’s Industry Councils. Each Industry Council is eager to review the feedback from licensees and stakeholders on these proposed changes, and the recommendations of the Rules Review Steering Committee, before making any decisions. Note that feedback is not limited to the survey questions. Please feel free to provide any additional feedback on any proposed changes to firstname.lastname@example.org.
Phase 3 will be a final stakeholder consultation on potential issues that could arise should final proposed Rule changes come into force. The Rules Review consultation will continue until Fall 2024.
GRADUATED LICENSING OFF TO A GREAT START
Beginning October 1, 2023, The Residential Property Manager Industry Council launched the Graduated Licensing Program (GLP) for condominium managers.
The GLP allows those new to the industry to perform certain restricted activities, as they complete their pre-licensing education. Initially, 25 restricted licences were issued to conditionally licensed condominium managers in the GLP. These licences were issued to former conditionally licensed condominium managers who did not complete all required pre-licensing courses prior to the September 30, 2023 renewal deadline. Since October, several of these GLP licensees have completed the necessary education and been granted their full condominium manager licence.
Feedback from prospective condominium managers, new to the condominium industry has been positive, as they are now eligible to work (at a restricted level) while they are at various stages of completing their pre-licensing education.
Learn more about the Graduated Licensing Program here.
RMS COMMITTEE UPDATE
As previously announced, the Residential Real Estate Broker Industry Council has accepted the recommended improvements to the Residential Measurement Standard (RMS) from the RMS Committee:
These improvements include:
- beginning January 1, 2024, licensees will measure semi-detached and townhouse properties using the exterior wall at the foundation. If the thickness of the demising wall(s) cannot be determined, the thickness of an exterior wall should be used.
- beginning January 1, 2024, and to help consumers and licensees compare properties more accurately, the Industry Council accepted the recommendation from the Committee to set a Below Grade Measurement Standard (BGMS). The BGMS is not a mandatory measurement, nor part of the RMS, but it will be the standard by which licensees must measure below-grade space should their client agree to advertise it in addition to the RMS.
Please familiarize yourselves with the details of both measurement improvements on reca.ca. The changes will take effect January 1, 2024.
RENEWALS REMAINED CONSISTENT
Overall, RECA saw about the same number of licensees renew their licences for this fiscal year. As of October 1, 2023, there were 18,886 RECA licensees across real estate, mortgage and condominium management, a 2.6% decrease from last year’s number at the same time. Licensee numbers typically decrease upon renewals, but quickly catch back up to pre-October 1 levels within the next few months as new licensees join the industry and as individuals who did not renew by the deadline decide to re-instate their licences.
NEW AD-HOC COMMITTEES STRUCK
The Residential Property Manager Industry Council is responsible for setting competencies associated with the practice of condominium property management. To facilitate this, the Condominium Manager Competency Committee has been established. The Committee is made up of industry, education providers, RECA Administration and others. Their mandate is to review and provide input for the Condominium Property Management competencies.
The Residential Real Estate Education Advisory Committee was established in May and will focus on competencies, education, and exam questions for residential real estate professionals. The Committee will explore decisions on standards for pass/fail, other credentialling requirements for prospective licensees, exam answers, and enforcement actions or decisions. Membership within the committee includes all real estate education providers, Industry Council Members from the Residential Real Estate Broker Industry Council and two educational experts appointed by the committee.
WE WANT TO HEAR FROM YOU!
What work or projects are you interested in hearing more about from your Board and/or Industry Councils? Let us know at email@example.com.