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Licence Fee Changes FAQ

 

Licensing fees support the direct costs of protecting consumers and regulating the real estate industry in the public interest, including licensing, brokerage audits, complaint handling, investigations and discipline.

As part of our goal to become increase efficiency and enhance consumer protection, we are strengthening our approach to regulation and enhancing our services for both licensees and consumers. To support these changes and to ensure we continue to provide the regulatory effectiveness the public and industry members expect, the Council will be increasing some of its licensing fees. 

To find out more about the fee changes, review the FAQ questions below, and visit the Licensing Fees page.

 


 

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Show/Hide AnswerWhy are fees changing?

As part of our commitment to enhance consumer protection, we are strengthening our approach to regulation and enhancing our services for both licensees and consumers. To support these changes and to ensure we continue to provide the regulatory effectiveness the public and industry members expect, the Council will be increasing some of its licensing fees. 

The Real Estate Council of BC has approved the following fee changes that will take effect April 1, 2018.

  • Application fee increase of $40 for first-time applicants, $20 for renewal applicants
  • Licence assessment fee increase of $100

For a full listing of all fees and changes as of April 1, 2018, please review the Licensing Fee Tables.

Some fee increases will also affect personal real estate corporations, brokerages, and branch offices. For a complete listing of the changes to licensing fees, visit the Council’s Licensing Fees page. 

Show/Hide AnswerDidn’t we have a fee increase last year?

Last year saw an increase in fees the Council collects for the Real Estate Compensation Fund Corporation and the Superintendent of Real Estate. The Real Estate Council’s fees have not increased since January 2016. The fee increases effective April 1, 2018 will allow the Council to become a stronger, more efficient regulator. 

For a complete listing of the changes to licensing fees, visit the Council’s Licensing Fees page. 

Show/Hide AnswerMy licence expires on March 31, 2018. Will I need to pay the increased fees?

Yes. Individuals with licence expiry dates on or after March 31, 2018 must pay the updated fees. 

Show/Hide AnswerHow will these changes affect a personal real estate corporation licence?

Licensees with a personal real estate corporation must maintain two licences – an individual licence, and a licence for the corporation. As a result, the fees apply to both licences separately, and you must pay fees for both licences.

For more information on the licence requirements for personal real estate corporations, please see the Guide to Personal Real Estate Corporations.

For more information on the fees associated with each licence, please visit the Council’s Licensing Fees Page.

Still have questions? Email [email protected]