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RESA 21-001 - Education Requirements
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REGULATORY STATEMENT NUMBER: RESA 21-001
TITLE: Educational Requirements for a New Licence or to Renew a Licence
LEGISLATION: Real Estate Services Act (“RESA”)
DATE: August 1, 2021
DISTRIBUTION: All licensees under RESA
This Regulatory Statement provides the education requirements for an application for a new licence or to renew a licence under the Real Estate Services Act (“RESA”).
Section 10 of RESA states that an applicant for a new licence or licence renewal must satisfy the Superintendent of Real Estate (the “Superintendent”) that they meet the qualification requirements to be licensed. Section 10 also provides the authority for the Superintendent to specify continuing education requirements to renew a licence.
Section 123.1 of RESA provides that the Superintendent may establish fees for educational courses.
Section 9 of the Real Estate Services Rules (the “Rules”) provides that an Applicant for a new licence must have completed the applicable licensing courses, as specified by the superintendent, respecting the real estate services in relation to which the application is made.
RESA, the Real Estate Services Regulation, and the Rules provide additional requirements and authorities related to licensing, beyond those contained in this Regulatory Statement.
Part 1 Applicable Licensing Courses Required to Apply for a New Licence
To apply for a new licence, an applicant who is an individual must have successfully completed the licensing courses in the table below, as applicable to the category and/or level of level of licence to which the application relates:
|Category of Real Estate Services||Representative||Associate Broker or Managing Broker|
Real Estate Trading Services Licensing Course
Residential or Commercial Trading Services Applied Practice Course
|Broker’s Business Planning and Financial Management Licensing Course|
|Rental Property Management Services||Rental Property Management Licensing Course||Broker’s Business Planning and Financial Management Licensing Course|
|Strata Management Services||Strata Property Management Licensing Course||Broker’s Business Planning and Financial Management Licensing Course|
Part 2 Continuing Education Courses Required to Apply to Renew a Licence
In order to have a licence renewed, an applicant for licence renewal who is an individual must:
- have completed the applicable continuing education courses respecting the real estate services and the level of licence in relation to which the application is made; and
- have passed the examinations corresponding to those courses
prior to the date the licence is renewed.
The Superintendent’s required continuing education courses for all licence levels are listed below:
- One Legal Update course respecting the real estate services to which the application is made must be completed during the two-year licence term in order to be eligible to renew a licence;
- One applicable Ethics course must be completed during the two-year licence term in order to be eligible to renew a licence on or after October 1, 2020; and
- The ‘Anti-Money Laundering in Real Estate’ course must be completed to renew a licence on or after April 1, 2020 and March 31, 2022.
Part 3 Fees for Educational Courses
The table below provides the approved fees for education courses.
Course Title Fee Real Estate Services Licensing Course $1,150 Real Estate Services Supplemental Licensing Course $775 Real Estate Services Licensing Course Examination (regularly scheduled exam sitting) $85 Real Estate Services Licensing Course Examination (computerized exam centre) $125 Trading Services Applied Practice Course (Residential or Commercial) $875 Licensing Exam Challenge Package $350 Broker’s Licensing Course $1,150 Broker’s Licensing Course Examination (regularly scheduled exam sitting) $85 Broker’s Licensing Course Examination (computerized exam centre) $125 Course Title Fee Legal Update $275 Anti-Money Laundering in Real Estate $100 Ethics course $175 Course Title Fee Remedial Real Estate Services Course $250 Rules Changes: Agency and Disclosure $75 Fee Administrative fee (non-refundable, included in licensing and remedial education course and exam fees delivered by the Real Estate Division of the Sauder School of Business at the University of British Columbia) $25
For inquires related to licensing education requirements, please email [email protected].
As the BC Financial Services Authority, we issue Regulatory Statements outlining how entities must operate, or the form and content required by the Regulator for mandatory regulatory filings identified in the Real Estate Services Act, Real Estate Services Regulation, Real Estate Services Rules and other pertinent legislation. While the comments in a particular part of a Regulatory Statements may relate to provisions of the law in force at the time they were made, these comments are not a substitute for the law. The reader should consider the comments in light of the relevant provisions of the law in force at the time, taking into account the effect of any relevant amendments to those provisions or relevant court decisions occurring after the date on which the comments were made. Subject to the above, instructions, definitions, and positions contained in a Regulatory Statement generally apply as of the date on which it was published, unless otherwise specified.