REQUIREMENTS FOR LICENSING

Real estate services is defined in RESA to mean

(a) rental property management services;

(b) strata management services; or

(c) trading services.

Rental Property Management Services

(a) trading services in relation to the rental of the real estate;

(b) collecting rents or security deposits for the use of the real estate;

(c) managing the real estate on behalf of the owner by:

(i) making payments to third parties;

(ii) negotiating or entering into contracts;

(iii) supervising employees or contractors hired or engaged by the owner; or

(iv) managing landlord and tenant matters.

Strata Management Services

(a) collecting or holding strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act;

(b) exercising delegated powers and duties of a strata corporation or strata council, including:

(i) making payments to third parties on behalf of the strata corporation;

(ii) negotiating or entering into contracts on behalf of the strata corporation;

(iii) supervising employees or contractors hired or engaged by the strata corporation; or

(iv) enforcing bylaws or rules of the strata corporation.

Trading Services

(a) advising on the appropriate price for the real estate;

(b) making representations about the real estate;

(c) finding the real estate for a party to acquire;

(d) finding a party to acquire the real estate;

(e) showing the real estate;

(f) negotiating the price of the real estate or the terms of the trade in real estate;

(g) presenting offers to dispose of or acquire the real estate; or

(h) receiving deposit money paid in respect of the real estate.

RESA’s definition of “real estate”

(a) real property;

(b) regardless of whether it is or is not an interest in real property, a cooperative interest, shared interest in land or time share interest, as these are defined in REDMA; and

(c) a right in relation to real property that is defined by regulation to be real estate.

RESA’s definition of “trade in real estate”

(a) a transaction for the purchase or sale of real estate, for the leasing of real estate or for any other form of acquisition or disposition of real estate;

(b) an assignment of a contract for purchase, sale or lease of real estate, or a transaction in relation to such an assignment; or

(c) a prospective trade in real estate within the meaning of paragraph (a) or (b).