| Interpretation (Rule 1) |
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| Part 1 - Authorizations, Licences & Registrations |
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Division 1 - Classes of Licences (Rule 2-4)
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Classes of real estate brokers |
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Classes of mortgage brokers |
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Classes of real estate appraisers |
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Division 2 - Authorizations (Rules 5-12)
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Real estate brokerage authorization |
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Real estate broker, associate broker and associate authorization |
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Mortgage brokerage authorization |
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Mortgage broker and associate authorization |
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Appraiser and candidate authorization |
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Termination of authorization |
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Withdrawal from industry membership |
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Lifetime licensing prohibition |
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Division 3 - Licence Eligibility (Rules 13-15)
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Registered business office |
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Ineligibility for licence |
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Bankruptcy |
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Division 4 - Licence Requirements for Individuals (Rules 16-23)
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Education, examination and other requirements |
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Real estate and mortgage broker examination requirements |
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Appraiser and candidate examination requirements |
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Suitability review |
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Licence application |
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Notice of changes to information in support of licence application |
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Licence terms, conditions and restrictions |
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Re-Licensing Education Program requirements |
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Division 5 - Registration Certificates (Rules 24-29)
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Registration certificate |
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Expiry |
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Cancellation |
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Registration certificate application |
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Application from previous industry member |
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Registration restrictions |
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| Division 6 - Licence Requirements for Brokerages (Rules 30-33) |
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Brokerage application |
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Registered broker |
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Notice requirements |
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Change of fiscal year end |
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| Division 7 - Refusal, Suspension & Cancellation of a Licence or Registration Certificate (Rules 34-38) |
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Refusal |
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Suspension or cancellation of brokerage, appraiser or candidate licence |
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Temporary continuation of brokerage licence |
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Brokerage ceasing to carry on business |
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Suspension or cancellation of industry member licence |
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| Division 8 - Review of Executive Director's Decision (Rule 39) |
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Review of refusal, suspension or cancellation |
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| Division 9 - Information to Be Provided by Industry Members (Rule 40) |
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Notification by industry members |
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Part 2 - Industry Standards of Practice |
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Division 1 - Standards of Conduct for All Industry Members (Rules 41-46)
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Industry member responsibilities |
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Industry member prohibitions |
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Written service agreements |
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Protection of client information |
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Referral disclosure |
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Support personnel and assistants |
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Division 2 - Real Estate Brokerage Standards (Rules 47-63)
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Definition |
Sole agency with a seller |
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Agency relationship |
Sole agency with a buyer |
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Real estate brokerage responsibilities
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Designated Agency |
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Real estate brokerage prohibitions |
Transaction Brokerage for Common Law |
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Real estate broker responsibilities |
Transaction Brokerage for Designated Agency |
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Delegation by broker |
Customer status |
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Real estate associate broker and associate responsibilities |
Forms |
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Real estate broker, associate broker and associate prohibitions |
Delivery of documents |
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Disclosure requirements |
Personal real estate trades |
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Exclusive agreements |
Guaranteed sale |
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Division 3 - Mortgage Brokerage Standards (Rules 64-75)
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Definition |
Mortgage broker and associate prohibitions |
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Mortgage brokerage responsibilities |
Collection of fees |
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Mortgage brokerage prohibitions |
Verification of information disclosure |
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Mortgage broker responsibilities
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Obligations to lender clients |
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Delegation by broker |
Delivery of documents |
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Mortgage associate responsibilities |
Personal mortgage deals |
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Division 4 - Real Estate Appraisal Standards (Rules 76-80)
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Definition |
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Appraiser responsibilities |
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Appraiser prohibitions |
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Disclosure requirements |
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Appraisal report requirements |
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| Part 3 - Accounting, Records and Reporting Requirements (Rule 81) |
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Definition |
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Division 1 - Interpretation (Rules 82-92)
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Electronic records |
Trust shortage must be funded |
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Electronic copies of trust fund cheques |
Notification of trust shortage |
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Depositing funds electronically |
Year end report |
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Electronic transfer of trust funds |
Brokerage accounting |
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Bank reconciliation |
Absence of trust transactions |
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Negative trust balance prohibited |
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Division 2 - Requirements for Real Estate Brokers (Rules 93-103)
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Definition |
Ledgers |
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Real estate trade records |
Financial statements |
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Brokerage must maintain trust account |
Pooled disbursement account |
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Unauthorized payment from trust |
Positive balance in trust or pooled trust accounts |
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Payment of commission from trust |
Brokerage management fees |
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Written leases |
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| Division 3 - Requirements for Mortgage Brokers (Rules 104-109) |
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Definition |
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Mortgage deal records |
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Brokerage must maintain trust account |
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Unauthorized payment from trust |
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Pooled disbursement account |
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Brokerage management fees |
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| Division 4 - Real Estate Appraisers (Rule 110) |
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Appraisal records |
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| Part 4 - Errors and Omissions Insurance (Rules 111-120) |
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| Part 5 - Fees (Rule 121) |
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| Part 6 - Coming into Force (Rule 122) |
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| Schedules |
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Schedule 1 Real Estate Council of Alberta Forms and Agency Relationships Guide |
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Schedule 2 Fees |
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Schedule 3 Education Code of Conduct for Learners |
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Schedule 4 Education Code of Conduct for Learners: Compliance Process and Remedies |
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