What is the Role of a Managing Broker?
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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. Broker licensing is an advanced, higher level of licensing than the entry level representative licence. 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, apply to change their license status and then complete the appropriate Supplemental Course and Examination through the Real Estate Division at UBC to add service categories, such as trading, rental or strata management, if desired. |
