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Fees

 

This page contains licensing and assesment fee information for Individuals, Brokerages and a pro-rate fee table for Personal Real Estate Corporations.  
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 If an application is withdrawn for any reason prior to licence issuance, the $50 application fee will not be refunded.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 If an application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.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  • Please note: if the application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.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  • Please note: if an application is withdrawn for any reason prior to licence issuance, the $25 application fee will not be refunded.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