During the upcoming licence renewal period, eligible licensees will be required to make a one-time $50 contribution to the Real Estate Assurance Fund.
Licence renewal fees are not increasing this year. However, unlike in recent renewal periods, no fee credit will be applied to this year’s renewal. Licensees will be required to make a one-time $50 contribution to the Real Estate Assurance Fund, a dedicated consumer protection fund that is separate from RECA’s operating budget and regulatory activities. This one-time contribution applies to existing licensees renewing their licence and is separate from the existing $100 Real Estate Assurance Fund contribution paid by individuals when they first become licensed.
Contributing to the Real Estate Assurance Fund is a professional responsibility shared by licensees and helps ensure dedicated consumer protection resources remain available and separate from RECA’s operational and regulatory activities. We recognize that any additional cost is significant. This one-time contribution has been introduced to help ensure the Real Estate Assurance Fund remains financially sustainable and available to fulfill its purpose as an important consumer protection measure under Alberta’s real estate regulatory framework.
Note: The one-time $50 contribution does not apply to individuals licensed exclusively in condominium management. Licensees who hold a condominium management licence and are also licensed in real estate, property management, or mortgage brokerage must make the contribution.
Contributing to the Real Estate Assurance Fund is a professional responsibility shared by licensees and helps ensure dedicated consumer protection resources remain available and is separate from RECA’s operational and regulatory activities. We recognize that any additional cost is significant. This one-time contribution has been introduced to help ensure the Real Estate Assurance Fund remains financially sustainable and available to fulfill its purpose as an important consumer protection measure under Alberta’s real estate regulatory framework.
The one-time contribution will help:
- Maintain a strong consumer protection framework
- Support the long-term sustainability of the Real Estate Assurance Fund
- Reinforce public confidence in licensed professionals
- Demonstrate the industry’s commitment to accountability and consumer trust
Claims against the Real Estate Assurance Fund are rare. The overwhelming majority of Alberta licensees conduct their business professionally and ethically every day. The low number of claims reflects the high standards of the profession. Maintaining a strong Real Estate Assurance Fund is essential. Recently, serious misconduct has occurred, and the Real Estate Assurance Fund helped protect consumers and reinforce the public confidence in Alberta’s licensed real estate industry. This one-time $50 contribution will help ensure the Real Estate Assurance Fund remains sustainable and available when needed.
- $50 one-time contribution during licence renewal for eligible existing licensees
- Individuals becoming licensed continue to pay the existing $100 Real Estate Assurance Fund contribution as part of the licensing process
- Condominium managers licensed exclusively in condominium management are not required to contribute
- Separate from RECA’s operating budget and regulatory activities
- Most licensees have only contributed once before when they first became licensed
- Supports public trust in Alberta’s real estate industry
- Available only in specific circumstances involving fraud, breach of trust, or trust fund irregularities
Why is a contribution needed now?
The Real Estate Assurance Fund has supported consumer protection for many years. To ensure the Fund remains sustainable and available for future claims, a contribution is being made during the upcoming renewal period.
Haven’t licensees already paid into the Real Estate Assurance Fund?
Yes. Most licensees contributed when they first became licensed with RECA. For many licensees, that was their only contribution to the Real Estate Assurance Fund.
Is this a fee to RECA?
No. The contribution is not a fee to support RECA’s operations. It is directed to the Real Estate Assurance Fund, a dedicated consumer protection fund that is separate from RECA’s operating budget and regulatory activities. The Fund exists to support consumer protection in limited circumstances defined by legislation.
How much is the contribution?
$50 as part of licence renewal.
Is this a new annual fee?
No. This is a contribution being made during the upcoming renewal cycle to support the ongoing sustainability of the Real Estate Assurance Fund.
Who benefits from the Real Estate Assurance Fund?
The Real Estate Assurance Fund protects consumers by providing compensation in limited situations defined by Alberta legislation.
Why does the Real Estate Assurance Fund matter if most licensees never use it?
The Real Estate Assurance Fund helps maintain public confidence in Alberta’s real estate industry and supports trust between consumers and licensees.