News Bulletin - June 14, 2016
Important Licence Renewal Information
Continuing Professional Education
- I cannot complete my CPE on time, what can I do?
- My CPE is not complete. Will my name be published?
- As a broker, what do I need to know about advertising during renewals?
IMPORTANT LICENCE RENEWAL INFORMATION
Deadline is Tomorrow!
The deadline for the Commission to receive your completed renewal package without financial penalty is Wednesday, June 15th at 4:00 p.m.
If you are submitting a renewal package by mail, it must be postmarked by Canada Post or a courier service no later than June 15th. All renewal packages received after that time will incur an additional $50 administration fee.
Licensees can terminate their licence prior to the renewal date if they anticipate they will not be trading in real estate in the upcoming licensing year. Termination forms may be post-dated with any date up to and including June 30th.
To terminate, complete a Notice of Termination Form and provide it to the Commission.
Upon termination, for any reason, all advertising (including all online advertising) must be immediately removed or the licensee and their broker may be subject to disciplinary action.
Continuing Professional Education
Continuing Professional Education requirements must be completed by June 30th to process your renewal. Failing to complete CPE prior to the deadline will result in your licence not being renewed.
The 2015/16 CPE requirements for real estate licensees are:
- All brokers, managing associate brokers and associate brokers are required to take the broker mandatory course, “10 Timely Topics for Brokers”
- All salespeople are required to take the salesperson’s mandatory course, “20 Timely Topics for Salespeople”
- All licensees are required to take one elective course*
*Brokers, managing associate brokers and associate brokers may take the salesperson’s mandatory as their elective requirement, and vice versa.
Q: I cannot complete my CPE on time, what can I do?
A: You may apply to the Commission for a licence extension which will keep your licence active for 30 days until July 31st at which time your remaining required CPE courses must be completed.
At the end of the 30 days, if your CPE is not completed your licence will not be renewed and you must immediately stop all trading activities and advertising until such time as your CPE is complete and you reapply.
To apply for a licence extension, submit a completed Licence Extension Form with the corresponding extension fee by no later than noon on June 30th.
The form is available here and at the Commission office.
Q: My CPE is not complete. Will my name be published?
A: Licensees failing to have their licence renewed due to incomplete CPE requirements will have their name published per Bylaw 839(c), unless they are granted a licence extension or choose to terminate their licence by June 30th.
Q: As a broker, what do I need to know about advertising during renewals?
A: Brokers are ultimately responsible for the brokerage’s advertising and that of their licensees. It is important that you ensure all advertising for licensees who have not renewed their licences is removed prior to July 1st. Failing to do so may result in disciplinary action.
The Commission will review the advertising activity of newly expired and terminated licence holders, including online advertising and social media sites, to ensure compliance with the Real Estate Trading Act and Commission Bylaw. Some sites require several days for changes to be made, therefore be mindful and allow yourself sufficient time to process the request. Should you encounter issues removing advertising in time, including for reasons out of your control, please notify the Commission’s compliance team immediately.