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Brokerage Standards Manual

VI. Managing Broker Duties

Overview

The purpose of RESA is to protect the public. One way public protection is achieved is to require that the rights and duties of every brokerage be performed by one or more managing brokers. The role of the managing broker is crucial in the operation of the brokerage to ensure that the brokerage carries out the duties imposed by RESA. The managing broker acts for the brokerage for all purposes under RESA.

A brokerage may only provide the real estate services that the managing broker is licensed to provide. A brokerage may, however, hire more than one managing broker and thus provide the services that the managing brokers collectively are permitted to offer.

RESA and the Rules set out specific responsibilities for a managing broker.