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Fees

 

This page contains licensing and assessment fee information for:

All fees may be submitted by cash, VISA, MasterCard, money order or cheque made payable to the “Real Estate Council of BC.”

 


 

LICENSING FEES FOR INDIVIDUALS

FIRST-TIME LICENSING AND RE-LICENSING (licences issued after licence expiry)

Fee of $1250 – Includes licensing fee for the Real Estate Council of BC ($450), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($100).

  • All fees are for a two year period on an anniversary date basis.

  • Licence fees and Compensation Fund assessments are not refundable after licence issuance. If the licence is surrendered in the first year of the licensing period, a refund of the second year errors and omissions insurance premium is available.” If an application is withdrawn for any reason prior to licence issuance, the $50 application fee will not be refunded.

RENEWAL OF LICENCE

Fee of $1225 – Includes licensing fee for the Real Estate Council of BC ($425), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($100).

  • Licence fees and Compensation Fund assessments are not refundable after licence issuance. If the licence is surrendered in the first year of the licensing period, a refund of the second year errors and omissions insurance premium is available.” If an application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.
  • If the renewal application has not been received at the Council’s office by the renewal due date, the application will be treated as a re-licence application. The fee for a re-licence application is $1250.
  • The renewal of a multiple managing broker’s licence does not require an errors & omissions insurance premium. 

 

REINSTATEMENT OF LICENCE (TRANSFER) (currently licensed or inoperative less than 90 days within a licence period)

Fee of $125 (includes $25 application fee). 

  • Please note: if the application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.

 

CHANGE OF LICENCE LEVEL OR CATEGORY

Fee of $125. 

  • Please note: if an application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.

 

REINSTATEMENT OF LICENCE (inoperative more than 90 days within a licence period)

Fee of $125 (includes $25 application fee). 

  • Please note: if the application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.

 

NAME CHANGE

Fee of $25 


 

LICENSING FEES FOR BROKERAGES

All fees may be submitted by cash, VISA, MasterCard, money order or cheque made payable to the “Real Estate Council of BC”.

All fees are for a two year period on an anniversary date basis.

 

INITIAL LICENSING – CORPORATION OR PARTNERSHIP

Brokerage: Fee: $1400 – Includes licensing fee for the Real Estate Council of BC ($450), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($250).

plus

Managing Broker: Fee: $125 if currently licensed or applying within a licence period;

or if licence period has expired

Fee: $1250 – Includes licensing fee for the Real Estate Council of BC ($450), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($100).

  • If the managing broker for the brokerage is also the managing broker for an affiliated brokerage, the fee is: $550 (Includes Real Estate Council licence fee ($450) and Compensation Fund Corporation assessment ($100)).
  • If the application is withdrawn for any reason prior to licence issuance, a $25 or $50 application fee (depending on the type of application) will not be refunded.

INITIAL LICENSING – BRANCH OFFICE

Branch Office: Fee: $450

plus

Managing brokerFee: $125 if currently licensed or applying within a licence period;

or if licence period has expired

Fee: $1250 – Includes licensing fee for the Real Estate Council of BC ($450), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($100).

  • If the managing broker for the branch office is also the managing broker for one of the brokerage’s existing offices, the licensing fee is $450.
  • No errors and omissions insurance assessment or Real Estate Special Compensation Fund assessment is required where a managing broker is licensed in relation to two or more offices of the same brokerage (e.g. head office and branch office, or two branch offices of the same brokerage).
  • If the managing broker for the branch office is also the managing broker for an affiliated brokerage, the fee is: $550 (Includes Real Estate Council licence fee ($450) and Compensation Fund Corporation assessment ($100))
  • If the application is withdrawn for any reason prior to licence issuance, a $25 or $50 application fee (depending on the type of application) will not be refunded.

INITIAL LICENSING – SOLE PROPRIETOR

Fee: $125 if currently licensed or applying within a licence period.

Real Estate Compensation Fund Assessment – Contact the Council regarding the assessment requirement.

or if licence period has expired:

Fee: $1400 – Includes licensing fee for the Real Estate Council of BC ($450), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($250).

NAME OR ADDRESS CHANGES

Fee of $25 for each brokerage or branch office licence to be amended. All licensed offices of the brokerage must have their licences amended in the case of a name change.

RENEWAL OF LICENCE

The fee for the licence renewal of corporations, partnerships and sole proprietors is $1375 – Includes licensing fee for the Real Estate Council of BC ($425), Errors & Omissions Insurance assessment ($700) and the Real Estate Compensation Fund assessment ($250).

  • The fee for the licence renewal of a branch office is $425.
  • Branch offices do not pay the errors and omissions insurance or compensation fund assessments. 

 

PRO-RATED FEE TABLE FOR PERSONAL REAL ESTATE CORPORATIONS 

All fees are for a two year period on an anniversary date basis.

Number of full months between making application and the expiry date of the controlling individual’s licence Licensing & Assessment Fees
1 $52
2 $104
3 $155
4 $207
5 $259
6 $313
7 $364
8 $416
9 $468
10 $520
11 $571
12 $625
13 $677
14 $729
15 $780
16 $832
17 $884
18 $938
19 $989
20 $1,041
21 $1,093
22 $1,145
23 $1,196
24 $1,250