Renewal Stat Update

It’s the most wonderful time of the year!

I say that not because it’s Christmas (it’s not) nor because the kids are back to school (though they are). It is, however, the annual renewal period for all Alberta real estate and mortgage brokerage licensees.

This year, all industry professionals have to complete a course as part of the Re-licensing Education Program before they can be renewed. Brokers must complete the required course before they can renew their brokerage licence, their own registration and the registration of industry professionals within their brokerage.

Current renewal stats are trending lower than at this point last year and RECA is hopeful that industry professionals won’t be leaving their renewal – or their education –until the last minute.

Since the annual renewal period launched on Friday, August 17, less than 15 per cent of real estate brokerages have been renewed and only 6 per cent of mortgage brokerages have been renewed. Across the board, those numbers are all lower than renewal percentages from the same date last year (20 per cent, 14 per cent and 19 per cent, respectively).

Remember that if you are not renewed by the end of September 30, you are not authorized to trade in real estate or deal in mortgages as of October 1. Make sure you check your licensing status on October 1 before carrying out any work that requires an authorization. To do so, visit www.reca.ca, click on “Industry Professionals” and then click on “Search for an Industry Professional” under “Featured Resources.” You can search your licensing status by your last name. If the search results show your name with anything other than a green light beside it – do not trade in real estate and deal in mortgages.

If your name comes up with anything other than a green light (or doesn’t come up at all) and you are an associate or associate broker, please contact your broker. If you are a broker , you should log into the RECA Online licensing system to process your renewal, provided you have completed the required course, and have all of the required form(s) completed and commissioned by a Commissioner for Oaths. If you have difficulty doing so, you will need to contact the Real Estate Council of Alberta during regular business hours (Monday to Friday, 8:30 a.m.-5 p.m.) to look into the issue.

If you have any questions about the renewal process, please talk to your broker. If you need assistance accessing the Re-licensing Education Program course, please send an email to education@reca.ca.

Short of going giving renew-early discounts, is there anything the Real Estate Council of Alberta can do to encourage early renewal?