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.
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An Ontario brokerage is signing a written seller representation agreement to list a commercial plaza. Under O. Reg. 567/05 made under TRESA, which requirement applies to the agreement's expiry date?
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