RECA has recently proposed a new licensing framework that separates the real estate license into five separate licenses: residential, commercial, agribusiness (rural), and a further division in property management between commercial and residential. 

Currently, our province provides only one real estate license that allows 61 per cent of real estate licensees to practice across multiple sectors.  

So, how would the proposed framework affect real estate practice in Alberta?  

If approved,

• Brokers would be required to create up to five separate brokerage businesses, manage compliance fivefold, and pay fees five times over and,
• Associates would need individual licenses and brokerages for each practice area, including an increase in licensing fees with the potential of relicensing their education for up to five times. 

CREB^® encourages all its members to review RECA’s discussion paper to learn more about the proposal, and to let their voices be heard by responding to RECA’s survey and attending RECA’s Virtual Town Hall on Nov. 2.