Broker Bulletin: Deposit Clause, CPE Deadline and Licence Renewals
Reminder to Brokers: APS Deposit Clause 1.3
If the agreement in question was not written on the Commission’s Agreement of Purchase and Sale, and it did not contain a similar clause addressing early release of trust funds, per the Audit Policy, page 15, 1-D: "Early release of trust funds must be in accordance with the written agreement of all the parties or the respective lawyers’ written instructions," an amendment is required to release the funds prior to closing.
Mandatory CPE Course Deadline Reminder: June 15
Any licensee who does not complete their course by June 15th will not be able to renew their licence. Their licence will terminate effective July 1st and they must immediately cease all trading activities. The course will be unavailable from June 16th - July 11th.
Broker Reminder: Licensing Renewal Deadline - June 30
Since licence renewals opened on May 10th, 1272 licensees and 118 brokerages have renewed their licences. Another 96 licensees have logged in and responded to the renewal questions, but have not yet applied payment to their account.
Brokers are responsible for renewing the brokerage licence, audit fees, any branch office licences, their broker licence, and, if applicable, their approved sales corporation licence. All other licensees are responsible for renewing their real estate licence and, if applicable, their approved sales corporation licence.
New Brokerage Licensing Report
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