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​​RESA 23-005​ ​​Education ​Requirements for Previously Licensed Individuals

​​RESA 23-005​ ​​Education ​Requirements for Previously Licensed Individuals

Regulatory Statements
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  • REGULATORY STATEMENT NUMBER: RESA 23-005

    LEGISLATION: Real Estate Services Act (“RESA”)

    RELATED FORMS: ​​​​Application for Representative, Associate or Managing Broker Licence; Re-Licensing Application (Unlicensed More than 90 Days from Licence Expiry)​

    DATE: ​​March 22, 2023​

    DISTRIBUTION: ​​All Current and Prospective Licensees​

Purpose

This Regulatory Statement provides the relicensing education requirements under the Real Estate Services Act (“RESA” or “Act”) and Real Estate Services Rules (“the Rules”) for previously licensed individuals seeking to become relicensed.

Background Information

Part 2, Division 3 [Licensing Authority] of RESA provides the legislative requirements for applications for a licence, including those for previously licensed individuals seeking to become relicensed.

If a previously licensed individual voluntarily surrendered their licence, has been suspended (under Section 116(4) [special compensation fund minimum capital requirement] of the Act), has had their licence become inoperative (under Section 22(1) [licence inoperative if licensee ceases to be engaged by brokerage] of the Act), or had their licence expire, and they now wish to apply for relicensing; they are required to requalify by completing applicable licensing education requirements. Education requirements are set out in Part 2, Division 3 [Qualification Requirements] of the Rules and the Education Requirements’ Regulatory Statement.

Under Section 8(4) of the Rules, in recognition of an applicant’s previous knowledge or training, the Superintendent of Real Estate (the “Superintendent”) may waive the education requirements as detailed below in the “Representative’s Education Requalification Waiver Period.”

RESA, the Real Estate Services Regulation, and the Rules provide additional requirements and authorities related to licensing, beyond those contained in this Regulatory Statement.

Education Qualification Requirements

A. Representatives:

Relicensing After Being Unlicensed:

A previously licensed individual who is applying to be relicensed, after a period of being unlicensed – meaning the licence was inoperative, suspended, surrendered, or expired – must meet the requirements for a new licence application, as described in Regulatory Statement: Forms and Content of Applications.

Representative’s Education Requalification Waiver Period

The Superintendent will waive the applicable licensing course requirements for individuals applying for relicensing in the same category(s) in which they were licensed prior to their licence becoming inoperative, suspended, surrendered, or expired, for specified periods known as Education Requalification Waiver Periods. Education Requalification Waiver Periods are calculated from the date on which a licence becomes inoperative, is suspended, or is voluntarily surrendered.

The Superintendent will waive the applicable examination requirements and applied practice course requirements, if any, for individuals who wish to apply for relicensing as representatives in the same category(s) in which they were licensed prior to their licence becoming inoperative, suspended, voluntarily surrendered, or expired, for specified periods known as Education Requalification Waiver Periods.

The Education Requalification Waiver Periods are as follows:

  • After passing a licensing examination, an applicant may apply for relicensing for up to twelve months.
  • If an applicant was continuously licensed for less than a year, they may apply for relicensing for a period equivalent to their unbroken licensed period.
  • If an applicant was continuously licensed for one (1) year but less than five (5) years, they may apply for licensing for up to one (1) year.
  • If an applicant was continuously licensed for five (5) years or more, they may apply for licensing for up to two (2) years.

If the applicant is a former employee of a professional real estate organization – an industry association such as British Columbia Real Estate Association (BCREA) or a local board – their Education Requalification Waiver Period will be calculated using their last or longest continuous licence period and will begin on the date of termination of their employment.

If, during an applicant’s Education Requalification Waiver Period they passed the Brokers licensing course and examination, they may reapply for licensing as a representative for up to five (5) years after passing the Broker’s licensing examination.

If an applicant rewrites the Licensing examination and it has been more than two years since they completed the applicable Applied Practice Course, they are required to take the applicable Accelerated Applied Practice Course.

An applicant who applies for licensing within their Education Requalification Waiver Period but after their previous licence has expired must have completed the continuing education requirements set out in the Education Requirements’ Regulatory Statement.

B. Managing Brokers and Associate Brokers:

Application for Relicensing as a Managing Broker or Associate Broker

The education requirements for reissuing an associate broker or managing broker licence to someone who has been previously licensed as a managing broker or associate broker are as follows:

  • BCFSA will waive the applicable licensing course and examination, Broker’s licensing course and examination, and Applied Practice Course requirements1 for broker relicensing if the applicant has been unlicensed for five (5) or less years before the date of application.  
  • If the applicant is a former employee of a professional real estate organization their Education Requalification Waiver Period will be calculated using their last continuous licence period and will begin on the date of termination of their employment.
  • The Superintendent will waive the applicable service category licensing course and Broker’s licensing course requirements for broker relicensing if the applicant has been unlicensed for five (5) or more years before the date of application.
  • The applicable examination and Applied Practice Course requirements will not be waived.
  • If an applicant rewrites the applicable service category Licensing examination and it has been more than two years since they completed the applicable Applied Practice Course, they are required to take the applicable Accelerated Applied Practice Course. An applicant who wishes to become relicensed for any additional service category will be required to also complete the applicable supplemental examination(s).

Broker’s application for relicensing as a Representative

The education requirements for reissuing a representative’s licence to someone who has been previously licensed as a managing broker or associate broker are as follows:

  • The Superintendent will waive the applicable licensing course, examination, and applied practice course requirements for representative level licensing if the applicant for a representative’s licence has been unlicensed as an associate broker or managing broker for less than five (5) years immediately preceding the date of application.
  • The Superintendent will waive the applicable licensing course for representative level licensing if the applicant for a representative’s licence has been unlicensed as an associate broker or managing broker for five (5) years or more immediately preceding the date of application.
  • The applicable examination and applied practice course requirements will not be waived.
  • If an applicant rewrites the Real Estate Trading Services Licensing Examination, BCFSA will waive the requirement, if any, to complete the Trading Services Applied Practice Course if the applicant has completed the course within two (2) years before the date of the licence application. Applicants who have not completed the Trading Services Applied Practice Course within the two (2) years before the date of the licence application will be required to take the Accelerated Residential Trading Services Applied Practice Course, if applicable.
  • An applicant who wishes to become relicensed for any additional service category will be required to also complete the applicable supplemental examination(s).
  • An applicant who applies for relicensing after their previous licence has expired must have completed the continuing education requirements set out in Regulatory Statement: Education Requirements.

For more information on requirements for managing brokers, please see “Becoming Licensed” on the BCFSA’s website.

Additional Information

For inquiries related to licensing education requirements, please email [email protected].​​​​

As the BC Financial Services Authority, we issue Regulatory Statements outlining how entities must operate, or the form and content required by the Regulator for mandatory regulatory filings identified in the Financial Institutions Act and Credit Union Incorporation Act, Regulations, and other pertinent legislation. While the comments in a particular part of a Regulatory Statements may relate to provisions of the law in force at the time they were made, these comments are not a substitute for the law. The reader should consider the comments in light of the relevant provisions of the law in force at the time, taking into account the effect of any relevant amendments to those provisions or relevant court decisions occurring after the date on which the comments were made. Subject to the above, instructions, definitions, and positions contained in a Regulatory Statements generally apply as of the date on which it was published, unless otherwise specified.