Renewal time is now!

All real estate and mortgage broker industry members must have their registration renewed no later than September 30, 2008. The RECA Online system is available for brokers to renew industry members registered with the brokerage. Payment may be made online through Visa or MasterCard and is applied to the brokerage account immediately to begin processing. Payment may also be made by one cheque payable to RECA in an amount to renew all industry members of the brokerage. Please allow 2 working days after receipt by RECA for the brokerage cheque to be credited to the brokerage account.  

All brokers should have received a renewal information package in the mail from RECA. Upon receipt of the package:

• review the renewal instructions and material contained in the package from RECA
• review and complete the Confirmation of Trust Account Information form included in the renewal package
• log-in to the RECA Online system and download auto-populated renewal forms for each industry member registered with your brokerage
• have your industry members complete their renewal forms and ensure they are commissioned by a Commissioner for Oaths and signed by the industry member
• review the application form and complete the broker acknowledgement portion
• process renewals for each industry member registered with your brokerage using RECA Online

Do not wait until the last minute to process renewals. If there are unforeseen issues that cause a delay, an industry member’s registration may not be renewed by September 30th.

Real estate industry member's registration can only be processed when the industry member has completed the required mandatory professional development courses.

Brokers can use the RECA Online system to view the current course completion status for each industry member registered with their brokerage. This Query Education for Brokerage report is accessed at the bottom of the page after you have logged into your brokerage screen. Encourage industry members to complete their required courses in advance of September 30, 2008. Industry members should allow 48 hours in advance of September 30th to ensure that the completion of the courses is recorded in the RECA database for the broker to be able to process their application.

There are no professional development requirements for mortgage broker industry members to complete by September 30, 2008.

If any industry member registered with your brokerage answers ''YES'' to a question in Section C - Information Respecting Suitability, the completed application MUST be sent to RECA for processing along with any and all supporting documentation from the industry member in question. ''YES'' answers should only be given with respect to events and/or situations that have occurred since the last date of application for that industry member.

Please note that licensing fees have remained the same for the 2008-2009 registration year with a reduction of REIX premiums for real estate industry members.

If you have questions about your education requirements or the renewal process, please contact your broker. If your broker cannot answer your question, please have the broker make the inquiry to RECA as broker inquiries are given priority response.

 

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