The 2018 Mandatory Forms Update course begins January 19, 2018.
The NSREC Board of Directors has approved 14 forms brought forth by the forms committee. The approved forms include the new Agreement of Purchase and Sale and other related forms. These forms contain extensive revisions so there has been a course developed to educate licensees on these changes.
All licensees (excluding licensees who solely practice commercial transactions) MUST complete the 2018 Mandatory Forms Update course, which will be offered between January 19, 2018, and June 11, 2018. There will be no cost to licensees for the course fee, as it will be paid by the Commission during this time frame.
The updated forms will be distributed with watermarks to the industry on January 19, 2018, for review only. The official release of the 14 forms for mandatory use is July 1, 2018.
The forms being reviewed in the course are:
Form 400 - Agreement of Purchase and Sale
Form 210 - Equipment Schedule
Form 402 - Resale Condominium Schedule
Form 404 - Vacant Land Schedule
Form 406 - Mini/Mobile Home Schedule
Form 407 - Multi-Unit Residential Income Property Schedule
Form 431 - Well and Septic Schedule
Form 430A - Sale of Buyer’s Property Schedule
Form 430B - Sale of Buyer’s Property Seller Notice to Buyer
Form 430C - Sale of Buyer’s Property Buyer Notice to Seller
Form 410 - Counter Offer
Form 421 - Amendment to Agreement of Purchase and Sale
Form 420 - Addendum Schedule
Form 440 - Termination of Agreement of Purchase and Sale and Release of Deposit
Advertising in the Digital Age
The other 2017-18 mandatory CPE course, Advertising in the Digital Age, must be completed by all licensees. The date to complete this course is June 12, 2018. For this CPE course, licensees are responsible for the course fee.
Per Bylaw 323 (a), all industry member must complete the annual CPE requirements prescribed by the Commission for their licence prior to June 15th of each year. Should an industry member fail to complete the requirements, their licence will not be renewed until proof that the requirements have been met and is provided to the Registrar.