News Bytes August 2018

Licence fees remain the same for 2018-2019, REIX fee decreasing

Council approved the 2018-2019 budget at its July meeting, which included no increase to the licensing fees for the 2018-2019 year.

However, REIX has reduced its premium to $175 (from $275) for the upcoming year.

Renewals will open August 20 for brokers and appraisers; August 27 for everyone else

Brokers can begin renewing their brokerages and appraisers can begin renewing their licence on August 20, 2018.

Brokers must renew their brokerage before any associates or associate brokers at the brokerage can renew. So please renew your brokerage as early as possible to give your associates ample time to renew.

Brokers should keep in mind that they must report any brokerage amendments BEFORE they begin a renewal. This includes brokerage address changes, corporate structure changes, trade name changes and more. For a complete list of potential brokerage amendments and instructions click here.

All industry professionals should make sure they know their myRECA username and password. We understand that the only time many professionals access myRECA is to renew their authorization every year, and log in information you don’t use often tends to be forgotten.

Making sure you know your myRECA username and password now will save you time and frustration come September. RECA call and email volumes increase drastically as the renewal deadline approaches, save yourself the call and take care of it now.

Real estate professionals who practice commercial real estate or property management must complete Real Estate Update 2018 before renewing

All brokers and associate brokers, and all associates wanting to keep their authorization in property management and/or commercial real estate must complete Real Estate Update 2018 prior to renewing. Enroll in the course through the Course Catalogue in your myRECA account.

Brokers must keep their authorization in all practice areas to remain a broker.

Associate brokers who do not complete this course will lose their associate broker status upon renewal, and will become associates.

Associates who do not wish to keep their property management or commercial authorization, or don’t currently have them, do not have to complete this course.

RECA has a new website!

RECA launched its new, mobile-friendly, easy-to-use website on July 18, 2018. The new site is more navigable, searchable, and current.

Highlights include:

• An improved search function
• A searchable database of all published disciplinary decisions
• A searchable database of all RECA information bulletins
• An online complaint submission form
• More intuitive design
• Layered information (read only what you need)

Have a look! www.reca.ca