News Bulletin - June 26, 2015
Reminder: New SBA/SDBA & Working with the Real Estate Industry Forms
Reminder: Get your CPE on time!
Licence Renewals: Apply for a licence extension
Licence Renewals: Brokers take note
Reminder: New SBA/SDBA & Working with the Real Estate Industry Forms
Industry members must transition to using the new versions of the Seller Brokerage Agreement, Seller Designated Brokerage Agreement and the Working With the Real Estate Industry Forms (released on May 8th) by July 2nd, 2015. Ensure you are using the correct versions by checking the published date in the top right hand corner of each page of each form. The new forms read April 2015.
Reminder: Get your CPE on time!
Annual continuing professional education (CPE) requirements must be met by June 30th, 2015; failing to do so means that your licence will not be renewed and you will no longer be able to trade in real estate.
The Designated Agency mandatory course is being offered by NSAR on June 30th and is the only course offered before the end of this licensing cycle. At the time this bulletin is released, there are still available spots for this course. Contact NSAR to register at 902-468-2515 or toll-free at 800-344-2001.
Should your licence not be renewed, you will be required to immediately remove all for-sale signs and advertising, which includes updating your social media employment status or fully removing your social media pages (LinkedIn, Facebook, Twitter, Instagram and Pinterest, etc) and real estate websites. Failing to do so may result in disciplinary action.
If you do not intend to remain in the industry, terminating your licence by the end of day on June 30th removes your name from the licence cancellation list that will be published on July 2nd, 2015.
Licence Renewals: Apply for a licence extension
If you have not completed your CPE requirements by June 30th, you may apply to the Commission for a licence extension which will keep your licence active until July 31st, at which time your remaining CPE credits must be completed. Your licence will not be renewed at the end of the 30 days if your CPE is not completed and you must immediately stop all trading activities and advertising until such time as your CPE is complete and you re-apply.
To apply for a licence extension, submit a completed Licence Extension Form with the $1,000 extension fee by no later than noon on June 30th.
Licence Renewals: Brokers take note
As the broker is ultimately responsible for your brokerage’s and industry member's advertising, it is important that you ensure all advertising for industry members who have not renewed or have terminated their licences is removed prior to July 1, 2015. Failing to do so may result in disciplinary action.
The Commission will be reviewing the advertising activity of all newly expired and terminated licence holders, including online advertising and social media, to ensure compliance with the Real Estate Trading Act and Commission Bylaw. Be aware that some websites require several days for changes to go live, so allow yourself sufficient time to process the request. Should you encounter issues with removing advertising in time, including for reasons out of your control, please notify This email address is being protected from spambots. You need JavaScript enabled to view it..
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