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Legal Update for Real Estate Licensees

Legal Update for Real Estate Licensees

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  • MANDATORY FOR: ALL REAL ESTATE LICENSEES

  • BCFSA’s Legal Update course is a mandatory continuing education requirement for all real estate licensees. Updated annually, the course includes an online, self-paced learning component and a one-day virtual classroom session. You must complete both components of the Legal Update course (online and virtual classroom) before applying to renew your licence.

    Cost: $275
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To register, you need your licence number. Find your licence number using our Licensee Search.

Once your registration has been processed, you will receive a confirmation email with details on how to access the online component of the course.

Course Overview

Who Must Take the Course

All real estate licensees are required to complete the Legal Update course before applying to renew a licence.

The Legal Update course includes:

  • An online, self-paced learning component; and
  • A five-hour virtual classroom session.

You must complete the entire Legal Update course before applying to renew your licence.

You are only required to complete one Legal Update course during your two-year licensing cycle and prior to licence renewal, even if you are licensed to provide more than one service. Licensees are welcome to complete each yearly version of the course for their own professional development.

What You Will Learn

In the Legal Update course, you will gain a comprehensive understanding of the latest legal and regulatory developments relevant to real estate licensees. Topics covered encompass critical areas such as climate change, recent case law, significant disciplinary cases from BCFSA, and valuable insights to integrate into your business practices.

When to Take the Course

We encourage you to take Legal Update as soon as possible within your two-year licensing period. Completion of the course is required in order to renew a licence.

BCFSA strongly recommends that you begin the Legal Update course at least 8 weeks in advance of your licence expiry date, to ensure that you have ample time to complete the course and submit your licence renewal application.

Course cost

The Legal Update course fee is $275. Course fees must be paid upon registration.

Course revenues support the development of further educational resources and courses to enhance real estate licensees’ knowledge and help them to comply with regulatory requirements.

Course Length

The online component of the course is self-paced and must be completed at least one week before the virtual classroom component. There are quizzes and evaluations to ensure that you thoroughly understand the material before going on to a new section. In most cases, it will likely take a total of 10-15 hours to complete the online self-paced component of the course. The virtual classroom component is a full-day, five hour session.

Course Details

In addition to topics applicable to specific licensing categories, there is a comprehensive suite of topics in Legal Update. The Learner Resource Workbook provided to learners includes the following list of topics:

Module 1Personal Conduct
Module 2Fraud and Prevention
Module 3Due Diligence
Module 4The Managing Broker — Management and Supervision
Module 5Selected Issues in Rental Property Management
Module 6Strata Bylaws and Enforcement
Module 7Contracts
Module 8Taxes
Module 9Commercial Transactions and Contract Issues
Module 10Due Diligence on Commercial Transactions
Module 11Climate Change and Natural Catastrophes
Module 12Indigenous Lands

The table below details the mandatory modules required for each version of the course:

  • Trading — Residential

    • Personal Conduct
    • Fraud and Prevention
    • Due Diligence
    • Contracts
    • Taxes
    • Climate Change and Natural Catastrophes
    • Indigenous Lands

  • Trading — Commercial

    • Personal Conduct
    • Fraud and Prevention
    • Commercial Transactions and Contract Issues
    • Due Diligence on Commercial Transactions
    • Climate Change and Natural Catastrophes
    • Indigenous Lands

  • Rental

    • Personal Conduct
    • Fraud and Prevention
    • Selected Issues in Rental Property Management
    • The Managing Broker — Management and Supervision
    • Climate Change and Natural Catastrophes
    • Indigenous Lands

  • Strata

    • Personal Conduct
    • Strata Bylaws and Enforcement
    • The Managing Broker — Management and Supervision
    • Climate Change and Natural Catastrophes
    • Indigenous Land

  • Managing Broker

    • Personal Conduct
    • Fraud and Prevention
    • Due Diligence
    • The Managing Broker — Management and Supervision
    • Climate Change and Natural Catastrophes
    • Indigenous Lands

During the virtual classroom session, you will take a closer look at the content of the modules covered through scenarios, case studies, and group discussions.

Frequently Asked Questions

  • All licensees undertaking the Legal Update program will acquire a comprehensive understanding of essential concepts pertaining to climate change, Indigenous lands, and personal conduct. Those engaged in trading services will delve into in-depth concepts associated with contracts, taxes, due diligence, and commercial transactions. For managing brokers, there is heightened emphasis on management and supervision. Rental and strata property managers will find specialized modules dedicated to selected issues in rental property management and strata bylaws and enforcement.

    Legal Update forms an integral component of the obligatory continuing education requirements for real estate licensees, essential for the maintenance of their licences. The course structure consists of two components: mandatory online components, followed by a full-day classroom session. Participants can anticipate completing online assessments and engaging in classroom activities designed to enhance their practical skills.

    The 2024 iteration of Legal Update introduces a more targeted approach with distinct modules tailored to each licensing category.

  • After registering for the Legal Update course, you will receive access to the online component on the day it is scheduled to start. You’ll find:

    • Self-paced modules, each with a final quiz with multiple choice questions; and
    • Adventures in each module specific to the course you registered for.

    Once you have completed the online component, you can attend the virtual classroom component, which will include:

    • Case scenarios;
    • Interactivity;
    • Group work and class discussions.

  • If you took the 2023 Legal Update during your current licence period, you have satisfied BCFSA’s Continuing Education requirement. You do not need to take another Legal Update course until your next licensing period. Real estate licensees are welcome to take the Legal Update course every year for their own professional development.

  • No. You must successfully complete all the sections in the online component of the course before you will be able to attend the virtual classroom component. If you are not able to complete the online component in time, you will be required to reschedule your course to another available offering, and pay a course rescheduling fee (50% of the course cost).

  • If you do not successfully complete the appropriate Legal Update course by the time your licence renewal application is due, your real estate licence will not be renewed. Register for the next available course and once you have completed it, you can submit a late renewal application form, paying an additional late renewal application fee of $50.

    If you do not renew your licence, you will not be licensed and cannot provide real estate services.