What happens when a RECA-licensed professional changes brokerages in Alberta?
Correct Answer
C) They must notify RECA and transfer to the new brokerage, and cannot trade until registered there
When an Alberta real estate professional changes brokerages, they must notify RECA and complete the transfer process. During the transition, they cannot conduct trades until they are properly registered under the new brokerage. The previous brokerage must also notify RECA of the associate's departure.
Why This Is the Correct Answer
Under the Real Estate Act, changing brokerages requires notifying RECA and completing the transfer process. The associate cannot conduct trades during the transition until properly registered under the new brokerage. The previous brokerage must also notify RECA of the departure. This ensures no gap in regulatory oversight and protects clients whose transactions may be in progress.
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