In Ontario, what is the maximum period for which a real estate salesperson license can be issued without renewal?
Correct Answer
B) 2 years
Under TRESA regulations, real estate salesperson licenses in Ontario are valid for a maximum of 2 years before requiring renewal. License holders must complete continuing education requirements and pay renewal fees to maintain their license in good standing.
Why This Is the Correct Answer
Option B is correct because under TRESA regulations in Ontario, real estate salesperson licenses are issued for a maximum period of 2 years. This is specifically outlined in Ontario Regulation 567/05 under TRESA. After this 2-year period, license holders must renew their license by completing continuing education requirements, paying renewal fees, and meeting any other regulatory requirements to maintain their license in good standing with the Real Estate Council of Ontario (RECO).
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- → During its monthly reconciliation, an Alberta brokerage finds trust funds that cannot be accounted for, and it has not yet determined how large the shortage is. Under Rule 89(1) of the RECA Rules, what must the broker do?
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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?
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In Ontario, what is the maximum period for which a real estate salesperson license is valid before renewal is required?