Real Estate Professional Information

Schedule 1 Licensing Conditions

1) Ms. Qi’s (the “Licensee”) licence will be issued with YVR Real Estate Advisors Ltd./ YVR International Realty (the “Brokerage”) as her brokerage on record. Any changes to the brokerage will require prior approval from the Superintendent of Real Estate (the “Superintendent”) of the BC Financial Services Authority (“BCFSA”) during the Conditional Licence Period of not less than one year following the issuance of her licence.

2) During the Conditional Licence Period, Ms. Qi must remain under the direct supervision of a managing broker of the Brokerage who is acceptable to the Superintendent, and who has confirmed in writing to the Superintendent that they have read these conditions, are aware of their duties under these conditions, and agree to accept these duties (the “Managing Broker”).

3) These conditions are in addition to Ms. Qi and the Managing Broker’s obligations under the Real Estate Services Act (“RESA”), and the Regulations and Rules made under the RESA (together, the “Legislation”). The Superintendent and the Licensee have agreed upon these additional conditions of supervision. The Managing Broker may impose their own additional conditions to ensure that the Licensee meets their obligations under the Legislation.

4) Ms. Qi must keep the Managing Broker informed weekly, or more frequently as required, of the real estate services that they are providing and other real estate-related activities that they are engaging in by providing written status reports (the “Status Reports”) to the Managing Broker that include, for each matter, as applicable:

a. the names of the principals and their agents;

b. the locations of the properties;

c. a description of services provided;

d. the status of the matter;

e. scheduled dates (e.g. closing dates and dates for waiver or satisfaction of conditions precedent);

f. funds paid and received; and

g. any other information relevant to the matter.

5) To ensure Ms. Qi meets the Licensee’s obligations under these conditions and the Legislation, the Managing Broker must meet with the Licensee on a weekly basis during the Conditional Licence Period to discuss the following:

a. the most recent Status Report;

b. any practice issues identified by the Managing Broker or Ms. Qi;

c. the appropriate course of action for addressing any identified practice issues and/or whether appropriate steps have been taken to address previously identified practice issues; and

d. confirm the Licensee’s attendance at or completion of any educational or training opportunities recommended by the Managing Broker.

6) Ms. Qi must consult with the Managing Broker in advance of taking any action on matters in respect of which there are questions or concerns regarding compliance with the Legislation, other applicable legislation, or the Brokerage’s policies and procedures.

7) In addition to providing the Brokerage with all records required under the Legislation, Ms. Qi must provide the Brokerage with all records created in connection with the provision of real estate services regardless of whether such records are associated with a specific transaction, including records of listing presentations, appraisals, competitive market analyses, correspondence, and referrals.

8) Ms. Qi must obtain the Managing Broker’s approval before presenting documents prepared by the Licensee to principals or their agents for execution.

9) Ms. Qi must provide to the Managing Broker all documents signed by the Licensee’s principals and Managing Broker must review all such documents.

10) The Managing Broker will provide a written report to BCFSA each quarter with the first delivered on the date three months from the commencement of these conditions (each, an “Interim Report”) confirming in relation to that period (the “Reporting Period”):

a. that the Licensee has provided real estate services under their direct supervision;

b. that the Licensee’s activities have been carried out competently and in compliance with these conditions, the Legislation, all other applicable legislation (to the best of the Managing Broker’s knowledge having made reasonable inquiries), and in accordance with Brokerage’s policies and procedures, or alternatively, providing details of non-compliance;

c. that they have reviewed all transactions in which the Licensee has provided real estate services, and that all documents relevant to the transactions are contained in the appropriate deal file and kept at the Brokerage;

d. that the Licensee has not conducted real estate services outside of the Brokerage and that any remuneration he has received for real estate services provided has been received only from the Brokerage;

e. they have met with the Licensee on a weekly basis to discuss the matters specified under these conditions; and

f. the number of real estate transactions that the Licensee has conducted and details regarding the principal(s), the agency offered, and any dealings with unrepresented parties.

11) Each Interim Report will be reviewed by BCFSA, who will determine if the Licensee has been providing real estate services in accordance with the Legislation and these conditions during the Reporting Period and if not, will so advise the Managing Broker and the Licensee.

12) Within 30 days before the end of the initial Conditional Licence Period or any continuation period, or within 14 days after the Managing Broker ceases to be the Managing Broker, whichever is earlier, the Managing Broker must provide a final report (the “Report”) to BCFSA confirming in relation to the Conditional Licence Period or applicable continuation period, or during the period in which Managing Broker acted as Managing Broker under these conditions, as applicable:

a. that Ms. Qi has provided real estate services under their direct supervision;

b. that Ms. Qi ‘s activities have been carried out competently and in compliance with these conditions, the Legislation, all other applicable legislation (to the best of the Managing Broker’s knowledge having made reasonable inquiries), and in accordance with Brokerage’s policies and procedures, or alternatively, providing details of non-compliance;

c. that they have reviewed all transactions in which Ms. Qi has provided real estate services, and that all documents relevant to the transactions are contained in the appropriate deal file and kept at the Brokerage;

d. that Ms. Qi has only conducted real estate services through their Brokerage and any remuneration they have received for those real estate services has been through the Brokerage only;

e. they have met with Ms. Qi on a weekly basis to discuss the matters specified under these conditions; and

f. the number of real estate transactions that the Licensee has conducted and details regarding the principal(s), the agency offered, and any dealings with unrepresented parties.

13) The Report will be reviewed by BCFSA, who will determine if the Conditional Licence Period or any continuation period has provided an adequate opportunity for BCFSA to make a determination that Ms. Qi is providing real estate services in accordance with the Legislation and these conditions and if not, will so advise the Managing Broker and the Licensee may continue the conditions for a continuation period.

14) The Managing Broker must, as soon as reasonably practicable in the circumstances at the time, report to BCFSA anything of an adverse nature with respect to the Licensee’s real estate services, including

a. failure of Ms. Qi to observe these conditions, the requirements of the Legislation or all other applicable legislation; and

b. complaints received by the Brokerage, including the nature of the complaint, the parties involved, and how the complaint was resolved.

15) The Managing Broker must ensure that Ms. Qi receive adequate, appropriate and ongoing training with respect to their obligations under the Legislation and the Brokerage’s policies and procedures

16) If the Managing Broker is absent from the Brokerage:

a. for more than one week but less than one month, the Managing Broker may delegate their duties to another managing broker or an associate broker who confirms their agreement to accept the supervision duties under these conditions to BCFSA in writing; or

b. for more than one month, Ms. Qi must notify BCFSA as soon as reasonably practicable in the circumstances at the time and approval from the Superintendent for a successor managing broker to supervise the Licensee must be sought as set out in paragraphs 1-2 of these conditions.

17) If for any reason the Managing Broker is unable to perform any of the duties imposed herein, they must as soon as reasonably practicable in the circumstances at the time advise BCFSA.

18) If there is a change in the managing broker of the Brokerage, the former managing broker and Ms. Qi must notify BCFSA in writing as soon as reasonably practicable in the circumstances at the time. If the Superintendent determines that the successor managing broker (the “Successor”) is acceptable as a managing broker for the purposes of these conditions, the Successor will be provided with a copy of these conditions and will be asked to confirm in writing to the Superintendent that the Successor has read these conditions, is aware of their duties under these conditions, and agrees to accept these duties. If the Successor fails to provide such confirmation within 14 days of becoming a managing broker at the Brokerage, the Successor will be deemed to be unable or unwilling to perform the duties set out in these conditions.

19) Failure by Ms. Qi to adhere to one or more of the conditions may constitute professional misconduct and the Superintendent retains the discretion to investigate this and any other matter, including matters set out in the Interim and Final Reports reviewed by the Superintendent, pursuant to section 37 of the RESA.

20) Failure by the Ms. Qi to successfully complete components 3 and 4 of the applicable Trading Services Applied Practice Course within 6 months of the effective date of this licence will result in Ms. Qi’s licence cancellation.