New Information Required in Brokerage Activity Report

At its February 2015 meeting, the Council approved amendments to section 4-10 of the General Bylaws. These amendments, which relate to the information required in the annual Brokerage Activity Report, will come into effect on July 1, 2015.

Brokerages with fiscal year ends after June 30, 2015, will be required to submit the new Brokerage Activity Report to the Council. These reports must be received no later than 120 days following the fiscal year end.

The changes include:

• a requirement that managing brokers complete and sign the Brokerage Activity Report,
• more complete information required regarding the number of strata lots, strata corporations with sections, sections within strata corporations, and the total number of strata corporations being managed, and
• information required on trust account balances for strata corporations (including sections) and rental real estate, in order to ensure that full information on all brokerage trust account balances is submitted.

⇒ Review the amendments to section 4-10 of the General Bylaws.

⇒ View the revised Brokerage Activity Report.