Part 1 - Authorizations, Licences and Registrations

Division 2 - Authorizations

Real estate brokerage authorization

5 A real estate brokerage licence issued by the Council under these Rules: .
(a) is the authorization required under the Act in order for a real estate brokerage to trade in real estate or hold itself out as a real estate brokerage;
(b) expires on September 30 following its issuance unless it is terminated, suspended or cancelled prior to that date; and
(c) may be renewed by the brokerage by submitting a completed renewal application to the executive director in a form prescribed by the executive director, together with any fees, premiums or levies established by the Council, by September 30 of the current licensing year.
 
Jul 1/06
 
Real estate broker, associate broker and associate authorization
6(1) A real estate broker licence and registration certificate issued by the Council under these Rules constitute the authorization required under the Act for a real estate broker to operate a real estate brokerage and trade in real estate on behalf of a brokerage.
(2) A real estate associate broker or associate licence and registration certificate issued by the Council under these Rules constitute the authorization required under the Act for a real estate associate broker or associate to trade in real estate on behalf of a brokerage.
(3) A real estate broker, associate broker or associate may renew his registration certificate by submitting a completed application to the executive director, together with any fees, premiums or levies established by the Council, by September 30 of the current licensing year.
(4) An individual must not trade in real estate or in any way hold himself out as a real estate broker, associate broker or associate until such time as the individual has been issued a licence and is registered with a brokerage licensed by the Council.
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Mortgage brokerage authorization
7 A mortgage brokerage licence issued by the Council under these Rules:
  (a) 

is the authorization required under the Act in order for a mortgage brokerage to deal in mortgages or hold itself out as a mortgage brokerage;

  (b) 

expires on September 30 following its issuance unless it is terminated, suspended or cancelled prior to that date; and

  (c)  may be renewed by the brokerage by submitting a completed renewal application to the executive director in a form prescribed by the executive director, together with any fees, premiums or levies established by the Council, by September 30 of the current licensing year.
   
Jul 1/06
 
Mortgage broker and associate authorization
 8(1) A mortgage broker licence and registration certificate issued by the Council under these Rules constitute the authorization required under the Act for a mortgage broker to operate a mortgage brokerage and deal in mortgages on behalf of a brokerage.
8(2)

A mortgage associate licence and registration certificate issued by the Council under these Rules constitute the authorization required under the Act for a mortgage associate to deal in mortgages on behalf of a brokerage.

8(3) A mortgage broker or associate may renew his registration certificate by submitting a completed application to the executive director, together with any fees, premiums or levies established by the Council, by September 30 of the current licensing year.
8(4) An individual must not deal in mortgages or in any way hold himself out as a mortgage broker or associate until such time as the individual has been issued a licence and is registered with a brokerage licensed by the Council.
 
Jul 1/06
 
Appraiser and candidate authorization
9(1) An appraiser licence issued by the Council under these Rules is the authorization required under the Act in order for an individual to carry on the practice of a real estate appraiser, or advertise or hold himself out as a real estate appraiser.
9(2) Subject to the limitations in these Rules, a candidate licence issued by the Council under these Rules is the authorization required under the Act in order for an individual to carry on the practice of a candidate, or advertise or hold himself out as a candidate.
9(3) An appraiser or candidate licence issued by Council expires on September 30 following its issuance unless it is renewed by submitting a completed renewal application to the executive director in a form prescribed by the executive director, together with any fees, premiums or levies established by the Council, by September 30 of the current licensing year.
9(4) An individual must not carry on the practice of a real estate appraiser or candidate or in any way hold himself out as a real estate appraiser or candidate until such time as the individual has been issued a licence by the Council.
 
Jul 1/06
 
Termination of authorization
10(1) The authorization of any industry member is deemed to be terminated when the person is no longer eligible to be licensed.
10(2) The licence of a real estate broker, associate broker or associate is deemed to be terminated if he fails to maintain or renew his registration certificate for a period exceeding 36 months.
10(3) The licence of a mortgage broker or associate is deemed to be terminated if he fails to maintain or renew his registration certificate for a period exceeding 36 months.
 
Jul 1/06
 
Withdrawal from industry membership
11 A person withdraws from industry membership when:
  (a) 

a licence is deemed to be terminated in accordance with these Rules;

  (b) a licence is voluntarily terminated by the person, in a manner and form prescribed by the executive director; or
  (c) an application for withdrawal pursuant to section 54 of the Act is approved by Council.
   
Jul 1/06
 
Lifetime licensing prohibition
12 An application by an industry member to withdraw from the industry pursuant to section 54 of the Act approved by Council is a lifetime licensing prohibition for that industry member.
 
Jul 1/06

 

Continue with Part 1 Division 3 - Licence Eligibility

Back to Table of Contents - Real Estate Act Rules

 

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