Under the Real Estate Services Act (RESA) in BC, what is the minimum licence needed to provide trading services for commercial real estate?
Correct Answer
C) Trading services representative licence, nothing more
RESA s. 5(1) sets four licence levels (brokerage, managing broker, associate broker and representative), and the Rules divide licences by service category, not by property type. A representative licensed for trading services, working under a managing broker, may trade in commercial as well as residential real estate; there is no separate commercial licence.
Why This Is the Correct Answer
This answer is correct. The licence categories in Rules s. 2 are defined by the type of service (trading, rental property management, strata management), not by the type of property. A representative licensed for trading services may provide trading services for commercial property under the supervision of the brokerage's managing broker, as RESA s. 5(1)(d) provides.
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