Licensing Renewal Roundup 2020
| February 09, 2021
The latest licensing renewal period is behind us, and overall, the industry outlook remains positive. Please note, this renewal information includes real estate appraisers, as they were still licensed by RECA from October 1–November 30, 2020.
The Numbers
Year-over-year, the number of individuals licensed in Alberta remained stable. The numbers in real estate brokerage increased, while the numbers in mortgage brokerage and real estate appraisal decreased slightly.
As of October 7, 2020, 14,857 licensees were licensed. Of these, 12,134 real estate licensees (an increase of 200), 2,188 mortgage brokerage licensees (an increase of 44), and 535 real estate appraisers (a decrease of 4) were licensed. The number of real estate appraisers is down over the last five years while the number of mortgage brokerage licensees is similar to those in the past five years.
This year, the number of new licensees joining the industry decreased slightly. Between October 1, 2019 and September 30, 2020, 1,108 individuals joined the industry. Last year, 1,220 individuals joined. However, the industry saw the fewest individuals leaving the industry in the past three years.
Renewal Experience
During this year’s licensing renewal period, RECA staff continued efforts to assist industry to complete renewals efficiently and effectively. RECA was very proactive and assisted in resolving renewal issues early. There were numerous communications to industry about important topics including the requirement to notify RECA about Real Estate Act Rules s.40 issues before starting a renewal, advice about how to avoid mistaken “yes” answers in the renewal form suitability questions, and advice relating to transferring brokerages.
This year we saw more individuals renew their license earlier than previous years. Before the last week of September 60% of licensees had renewed their licence. On September 30, 2020, 96% of licensees had renewed, which was a significant increase from the previous year. This could have been tied to licensees not having to complete re-licensing courses on time this year. Last year, more than 50% of renewals took place in the final week of September. RECA wants to thank licensees for completing renewals early, this allowed for RECA licensing staff, the myRECA licensing system, and RECA’s education staff to successfully accommodated licensees questions and inquires.
Moving Forward
RECA is committed to continuous improvement in its licensing renewals and to this end, units have already completed internal reviews. RECA will reach out to brokerages in the coming months to identify whether there are further opportunities for additional improvements.
RECA would like to take this opportunity to thank industry licensees for their support and cooperation throughout this year’s renewal.
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