In Ontario, what is the consequence if a real estate salesperson fails to renew their license before the expiry date?
Correct Answer
D) They must immediately cease all real estate activities
Under RECO regulations in Ontario, real estate professionals must immediately cease all real estate activities if their license expires. Continuing to practice without a valid license constitutes unauthorized practice and can result in significant penalties.
Why This Is the Correct Answer
Option D is correct under RECO regulations in Ontario. When a real estate salesperson's license expires, they must immediately cease all real estate activities. There is no grace period or partial permission to continue. The Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Ontario Regulation 567/05 clearly establish that practicing without a valid license constitutes unauthorized practice, which can result in significant penalties including fines and potential prosecution. The law is absolute on this point.
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In Ontario, what is the minimum period for which a real estate brokerage must retain its trust account records, unless the registrar specifies otherwise?
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A former Ontario salesperson has not been registered as a salesperson at any time in the 24 months before applying to register again. What does O. Reg. 579/05 require?