Renewal Stat Update

The renewal deadline is approaching, but don’t panic if you haven’t renewed yet. There is still time. Avoid last minute scrambling and take the opportunity to renew now!

• Only 19% of real estate brokerages have renewed, and only 4% of real estate associates/associate brokers have renewed.
• Only 18% of mortgage brokerages have renewed, and only 7% of mortgage associates.
• Only 10% of real estate appraisers have renewed.

The Real Estate Council of Alberta (RECA) encourages brokers to complete their course (if they are a real estate broker) and the brokerage/broker renewal well in advance of September 30 so there is enough time to also process associate and associate broker renewals.

These renewal stats are similar to previous years for all industry sectors, meaning that we may again have one-third of the industry renewing in the final five days before the deadline. RECA Office of the Registrar staff answer thousands of calls and emails in the month of September. This means if you run into an issue with your renewal right before the deadline, RECA staff may not be in a position to help in advance of September 30 despite their best efforts. If you – or anyone registered with your brokerage – is not renewed by September 30, you (or they) will not be authorized to work as of October 1 until the renewal is completed.

The easiest way to avoid any problems, or have them dealt with quickly and efficiently, is to begin your renewal process early.

Is there anything the Real Estate Council of Alberta can do to encourage early renewal?