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Brokerage Licensing

 

The following information relates to the initial licensing requirements for corporations/partnerships, branch offices and sole proprietorships.  Please review the appropriate section on this page depending on the type of entity that you wish to license. 

Corporation or Partnership

Step 1

Applicants should seek approval of the intended legal or trade name prior to submitting an application for licensing.  In order to assist applicants, the Council requests that you complete and submit the Request for Brokerage Name Approval form.

Please note, if the brokerage is going to do business under a name other than its legal name, the trade name or franchise name must be registered with the Registrar of Companies in Victoria prior to licensing.  If using a franchise name, please include a copy of your “consent for use of name” from the franchisor.  A copy of your franchise or licensing agreement may also be requested.

Step 2

Submit the Application for Brokerage Licence: Corporation or Partnership form completed by either the officers and/or directors of the corporation, or partner(s) in the case of a partnership, accompanied by the fees referred to below.  If paying fees by credit card, please use our Credit Card Payment form.

Step 3

Submit the Director, Officer or Partner Information form completed by each director, officer or partner.

Please note section 4-5(2)(c) of the Council’s Bylaws requires every new director or officer of a corporate applicant to submit a Director, Officer or Partner Information form immediately following his/her election or appointment.  Please note that a change of partners in a partnership requires an application for a new brokerage.

Step 4

Submit the Application for Representative, Associate or Managing Broker Licence form completed by a qualified managing broker.

Step 5

Click here for Brokerage: Corporation or Partnership licensing fees.

Step 6

Financial Statements (section 4-5(2) of the Council Bylaws):

Submit a current (i.e. within the four months preceding the date of application) certified financial statement as evidence of the total unimpaired working capital requirement as noted on the Application for Brokerage Licence: Corporation or Partnership form.  Completion of Form A – Brokerage Operating Expenses, is also required.  An unconditional subordination agreement must be completed if any capital has been borrowed.

Note:  The Financial Statement must be:

  • verified by the solemn declaration of the proposed managing broker deposing as to the accuracy of the financial statement;

    OR

  • certified by a chartered accountant or certified general accountant as to the accuracy of the financial statement.  (Notice to Reader, Review Engagement Report or Audit Report are acceptable.)

Step 7

Fiscal Year (section 4-4(3)(c) of the Council Bylaws):

The proposed fiscal year of the applicant in relation to brokerage activities must be indicated on the application for licensing.

Step 8

Business Licence (section 4-5(1) of the Council Bylaws):

Submit a copy of the city or municipal business licence.  Please note that the Council is aware there is often a waiting period to receive an original business licence. As a result, a copy of the paid application for business licence showing the brokerage name and address is acceptable to the Council for the purpose of licensing.

If no business licence is required for the brokerage in your area, please submit a letter from the local government authority advising that a licence is not required.

If the licence is for a residential brokerage office under section 2-5 [residential brokerage offices] of the Council Rules, the applicant must provide evidence satisfactory to the Council:

  • that the local government bylaws applicable to the residence permit the brokerage to conduct business from the residence, and

  • of any restrictions established by local government bylaw limiting the persons who may conduct business from the brokerage office.

    In the case of a residential brokerage office, confirmation of the shareholder structure of the brokerage is also required.   Click here for further information regarding a residential brokerage offices.

Step 9

Review the important information contained in the Council’s Real Estate Licensing Guidelines and the Brokerage Standards Manual.


 

Branch Office

Step 1

Submit the Application for Licence: Branch Office form completed by the managing broker, director, officer or partner of the brokerage to the Council, accompanied by the fees referred to below. 

Step 2

Submit the Application for Representative, Associate or Managing Broker Licence form completed by a qualified managing broker. If paying fees by credit card, please use our Credit Card Payment form.

Step 3

Click here for Brokerage: Branch Office licensing fees.

Step 4

Business Licence (section 4-5(1) of the Council Bylaws): 

Submit a copy of the city or municipal business licence.  Please note that the Council is aware there is often a waiting period to receive an original business licence. As a result, a copy of the paid application for business licence showing the company name and address is acceptable to the Council for the purpose of licensing. 

If no business licence is required for the brokerage in your area, please submit a letter from the local government authority advising that a licence is not required. 

If the licence is for a residential brokerage office under section 2-5 [residential brokerage offices] of the Council Rules, the applicant must provide evidence satisfactory to the Council:

  • that the local government bylaws applicable to the residence permit the brokerage to conduct business from the residence, and

  • of any restrictions established by local government bylaw limiting the persons who may conduct business from the brokerage office.

Click here for further information regarding residential brokerage offices.

Step 5

Review the important information contained in the Council’s Real Estate Licensing Guidelines and the Brokerage Standards Manual.


 

Sole Proprietor

Step 1

If you are doing business under a name other than your legal name, please obtain approval of the intended trade name from the Council prior to submitting an application for licensing. In order to assist applicants, the Council requests that you complete and submit the Request for Brokerage Name Approval form. 

Please note, if you are using a trade or franchise name, it must be registered with the Registrar of Companies in Victoria prior to licensing.   If using a franchise name, please include a copy of your “consent for use of name” from the franchisor.  A copy of your franchise or licensing agreement may also be requested.

Step 2

Submit the Application for Brokerage Licence: Sole Proprietor form completed by the applicant, accompanied by the fees referred to below.   If you are a re-licensing applicant or have been unlicensed for more than 90 days, you must submit an original criminal record check along with your application. Click here for information about obtaining a criminal rcord check. If you have never been licensed in British Columbia and this is a first-time application, you must also provide an original criminal record check.

Step 3

If the sole proprietor applicant is not the managing broker, submit the Application for Representative, Associate or Managing Broker Licence form.  If paying fees by credit card, please use our Credit Card Payment form.

Step 4

Click here for Brokerage: Sole Proprietorship licensing fees

Step 5

Financial Statements (section 4-5(2) of the Council Bylaws):  

Submit a current (i.e. within the four months preceding the date of application) certified financial statement as evidence of the total unimpaired working capital requirement as noted on the Application for Brokerage Licence: Sole Proprietor form.   Completion of Form A – Brokerage Operating Expenses, is also required.  An unconditional subordination agreement must be completed if any capital has been borrowed.  In order to assist applicants, copies of the required financial forms have been enclosed for your use. 

  • Note:  The Financial Statement must be:

  • verified by the solemn declaration of the sole proprietor deposing as to the accuracy of the financial statement;

    OR

  • certified by a chartered accountant or certified general accountant as to the accuracy of the financial statement.  (Notice to Reader, Review Engagement Report or Audit Report are acceptable.)

Step 6

Fiscal Year (section 4-4(4)(d) of the Council Bylaws):

The proposed fiscal year of the sole proprietorship in relation to brokerage activities must be indicated on the application for licensing.

Step 7

Business Licence (section 4-5(1) of the Council Bylaws):

Submit a copy of the city or municipal business licence.  Please note that the Council is aware there is often a waiting period to receive an original business licence. As a result, a copy of the paid application for business licence showing the brokerage name and address is acceptable to the Council for the purpose of licensing.

If no business licence is required for the brokerage in your area, please submit a letter from the local government authority advising that a licence is not required.

If the licence is for a residential brokerage office under section 2-5 [residential brokerage offices] of the Council Rules, the applicant must provide evidence satisfactory to the Council:

  • that the local government bylaws applicable to the residence permit the brokerage to conduct business from the residence, and

  • of any restrictions established by local government bylaw limiting the persons who may conduct business from the brokerage office.

  • Click here for further information regarding a residential brokerage offices.

Step 8

Review the important information contained in the Council’s Real Estate Licensing Guidelines and the Brokerage Standards Manual.