Realtor’s Insight

November 27, 2007

I received a question from a reader, thank you.

Question: What is a real estate broker? And what does that mean to the buying public?

A real estate broker is an individual that has successfully completed an advanced, higher level of licensing than the entry level representative license. Individuals may wish to become licensed at the broker level as either an Associate broker or a Managing broker. To do so an individual must successfully complete the Broker?s Licensing Course and Examination.

In order to register for the Broker?s Licensing Course, licensees must have not less than six months licensed experience in British Columbia. In addition, an individual must be licensed as a representative for two years in the five years preceding application for licensing at the broker level.

It is a requirement of the Real Estate Services Act that every brokerage (including sole proprietorships) have a managing broker in place at all times. The managing broker provides a ?second look? at the work of all licensees in the brokerage and is a ?built-in? information and advice resource for licensees and members of the public. A managing broker?s responsibilities apply to all activities of the brokerage that require licensing under the Act. In this regard, the managing broker must be in active charge of the business of the brokerage and must ensure that there is an adequate level of supervision of the licensees engaged by the brokerage.

Do you have a question? Feel free to ask, submit questions to B.C. Force Connecting Buyers and Sellers in writing to Brenda Banham RE/MAX Dawson Creek Realty: e-mail BrendaBanham@remax.net fax: 250-242-3256 or mail Box 1769 Tumbler Ridge, BC V0C 2W0 OR Claudette Huber RE/MAX Dawson Creek Realty: e-mail ClaudetteHuber@remax.net fax: 250-242-4410 or mail Box 2106 Tumbler Ridge, BC V0C 2W0

Have a great week everyone and stay warm.