Real Estate Sales Representatives are specially defined under the Real Estate and Business Brokers Act, 2002. They initially are entitled to provisional registration which is upgraded to permanent registration upon completion of the articling portion of the program. Thereafter, they require 24 hours of continuing education credits every two years in order to maintain their status. Most sales representatives remain as such. However, a few will undertake certain addition courses and upgrade to a broker registration. While that category enables the broker to be appointed as a broker of record and run a brokerage, it does not carry any other abilities to act in real estate transactions.

Oddly, upon first registration as a provisional registrant, the sales representative is legally entitled to act in all, including the m9ost complex of transactions.

 

2 Comments on Real Estate Sales Representatives

AUG
09
2010
804,827 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

Brian - Until late last year or earlier this year, one advantage of being a sales representative vs a broker was that the RECO biannual renewal fees were $100 less for sales representatives.  RECO recently increased the sales representative renewal fee to $350 which is the same as brokers and other registration classes.
12:24am • #1
AUG
11
2010
174,788 Points 2 Featured Posts Localism Sponsor

Wow! It sounds cheap being a realtor in Ontario! In Quebec, we seem to be paying and paying. Annual dues to the Province of $800, error and ommission insurance of about $700, board fee plus monthly fee of $55, etc.

As for qualification courses, we had agent and broker, both requiring a couple hundred hours to qualify. Now, I know residential, commercial and industrial have been separated as to licenses and each requires separate education to qualify.
7:06am • #2


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Brian Madigan LL.B.

Toronto, ON

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RE/MAX West Realty Inc., Brokerage (Toronto)

Address: Toronto, Mississauga, Oakville, Brampton, Caledon, Thornhill, Greater Toronto Area, http://www.iSourceRealEstate.com

Office Phone: (416) 745-2300

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