NOTE: Marcus & Millichap Real Estate Investment Services Canada Inc.’s suspension ended on July 23, 2019, as they have fulfilled all the requirements to reinstate their licence.
Calgary, Alberta – On July 22, 2019, the Real Estate Council of Alberta (RECA) suspended the licence of Marcus & Millichap Real Estate Investment Services Canada Inc.
Under Section 35(2)(b) of the Real Estate Act Rules, the executive director may suspend the licence of a brokerage if RECA receives information that indicates the individual who is registered as the broker has resigned or ceased to be the broker.
As a result of the brokerage licence suspension, the registrations of any industry professionals who were registered with this brokerage are cancelled and service agreements with this brokerage end. To read more about what to do if your brokerage shuts down, or if a brokerage you are dealing with shuts down, please see the Information Bulletin: When your real estate brokerage closes.
All active trades in real estate involving this brokerage are affected. Brokerages or consumers who have pending purchases or sales with deposits being held in trust with this brokerage should consider amending their purchase contract to transfer their trust deposit to a different brokerage or lawyer.
If you have questions or concerns regarding the suspension of this brokerage, please contact RECA at: 403-228-2954, or by email at: email@example.com.