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Real Estate And Business Brokers Act
The ''Real Estate and Business Brokers Acts'' is the legislation regulating the individual brokers and businesses registered to trade in real estate in Ontario, Canada. The most recent version, the ''Real Estate and Business Brokers Acts, 2002'', came into force in Ontario, Canada on March 31, 2006. Sections 50 to 53, dealing with the creation of regulations, were enabled on November 7, 2005. Section 8, dealing with specialist certifications, has yet to be proclaimed. REBBA is administered by the Real Estate Council of Ontario on behalf of the Ontario Ministry of Consumer Services. The ''Real Estate and Business Brokers Act, 2002'', replaces the ''Real Estate and Business Brokers Act, 1990''. Notable changes with the new legislation include: * modernized framework for registering and regulating brokerages, brokers and salespersons * rules of trading moved from previous Act to new Act's Regulations * procedures and programs previously found in RECO by-laws, e.g., insurance, cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Canada, it is Canada's most populous province, with 38.3 percent of the country's population, and is the second-largest province by total area (after Quebec). Ontario is Canada's fourth-largest jurisdiction in total area when the territories of the Northwest Territories and Nunavut are included. It is home to the nation's capital city, Ottawa, and the nation's most populous city, Toronto, which is Ontario's provincial capital. Ontario is bordered by the province of Manitoba to the west, Hudson Bay and James Bay to the north, and Quebec to the east and northeast, and to the south by the U.S. states of (from west to east) Minnesota, Michigan, Ohio, Pennsylvania, and New York. Almost all of Ontario's border with the United States f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Council Of Ontario
Established in 1997, the Real Estate Council of Ontario is a not-for-profit corporation that regulates the trade of real estate in Ontario in the public interest. On behalf of the Government of Ontario, it administers and enforces the Real Estate and Business Brokers Act, 2002 and its regulations. In Ontario, any individual or business trading in real estate must be registered with the council. As of July 31, 2017, there were more than 80,000 real estate registrants (salespersons, brokers and brokerages) in the province. Governance It is governed by a 12-member Board of Directors composed of nine registered real estate professionals elected by their peers and three non-registrants appointed by the Ministry of Government and Consumer Services (Ontario) to represent consumers, business and government. Board members serve a three-year term. The Chair is Glenda Brindle. The Vice-Chair is Rebecca Ryder. The duties of enforcing the Act are the responsibility of the Registrar, Josep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Consumer Services (Ontario)
The Ministry of Public and Business Service Delivery (formerly the Ministry of Government and Consumer Services) is a ministry of the Government of Ontario. It is responsible for ServiceOntario, which, among other responsibilities, issues driver's licenses, health cards, birth certificates and other provincial documents to Ontario residents. Additionally, it oversees the Archives of Ontario, and numerous boards and administrative authorities charged with consumer protection in specific sectors and industries, such as condominiums and travel. The current minister is Kaleed Rasheed, who assumed office in 2022. History Prior to 1972, the ''Department of Public Works'' was responsible for the function of providing and maintaining the buildings and facilities that house the operations of the provincial government. In November 1966, the ''Department of Financial and Commercial Affairs'' was established and acquired the responsibility for the regulation of insurance companies, loan and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legislation
Legislation is the process or result of enrolled bill, enrolling, enactment of a bill, enacting, or promulgation, promulgating laws by a legislature, parliament, or analogous Government, governing body. Before an item of legislation becomes law it may be known as a bill (proposed law), bill, and may be broadly referred to as "legislation" while it remains under consideration to distinguish it from other business. Legislation can have many purposes: to regulate, to authorize, to outlaw, to provide (funds), to sanction, to grant, to declare, or to restrict. It may be contrasted with a non-legislative act by an Executive (government), executive or administrative body under the authority of a legislative act. Overview Legislation is usually proposed by a member of the legislature (e.g. a member of Congress or Parliament), or by the executive, whereupon it is debated by members of the legislature and is often amended before passage (legislature), passage. Most large legislatures enact ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Brokers
A real estate agent or real estate broker is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency. Many states require written disclosures to be signed by all parties outlining the duties and obligations. Generally, real estate brokers or agents fall into four categories of representation: *Seller's agents, commonly called "listing brokers" or "listing agents", are contracted by owners to assist with marketing property for sale or lease. *Buyer's agents are brokers or salespersons who assist buyers by helping them purchase property. *Dual agents help ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Continuing Education
Continuing education (similar to further education in the United Kingdom and Republic of Ireland, Ireland) is an all-encompassing term within a broad list of post-secondary learning activities and programs. The term is used mainly in the United States and Canada. Recognized forms of post-secondary learning activities within the domain include: degree credit courses by non-traditional students, non-degree career training, college remediation, workforce training, and formal personal enrichment courses (both on-campus and online). General continuing education is similar to adult education, at least in being intended for adult learners, especially those beyond traditional undergraduate college or university age. Frequently, in the United States and Canada continuing education courses are delivered through a division or school of continuing education of a college or university known sometimes as the university extension or extension school. The Organisation for Economic Co-operatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethical Code
Ethical codes are adopted by organizations to assist members in understanding the difference between right and wrong and in applying that understanding to their decisions. An ethical code generally implies documents at three levels: codes of business ethics, codes of conduct for employees, and codes of professional practice. Code of ethics or code of conduct? (Corporate or business ethics) Many organizations use the phrases ''ethical code'' and ''code of conduct'' interchangeably, but it may be useful to make a distinction. A code of ethics will start by setting out the values that underpin the code and will describe an organization's obligation to its stakeholders. The code is publicly available and addressed to anyone with an interest in that organization's activities and the way it operates. It will include details of how the organization plans to implement its values and vision, as well as guidance to staff on ethical standards and how to achieve them. However, a code of co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Brokerages, Lenders And Administrators Act
The ''Mortgage Brokerages, Lenders and Administrators Act'', 2006 (the Act) came into force on July 1, 2008, replacing Ontario's ''Mortgage Brokers Act, 1990'', and requires all individuals and businesses who conduct mortgage brokering activities in Ontario to be licensed. The Act is currently administered by the Financial Services Regulatory Authority of Ontario. Notable changes with the new legislation include: * restrict the use of the titles, "mortgage brokerage", "mortgage broker", "mortgage agent", and "mortgage administrator" (and their French equivalents) * application to real estate brokers who act as mortgage brokers in Ontario * adding regulatory oversight to mortgage brokers who administer mortgages on behalf of third parties * exemptions to educational requirements during the transition period for some individuals * two-year licensing cycles * introducing criteria for surrendering a license See also * ''Real Estate and Business Brokers Act The ''Real Estate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate In Canada
The economy of Canada is a highly developed mixed-market economy. It is the 8th-largest GDP by nominal and 15th-largest GDP by PPP in the world. As with other developed nations, the country's economy is dominated by the service industry which employs about three quarters of Canadians. Canada has the third-highest total estimated value of natural resources, valued at US$33.98 trillion in 2019. It has the world's third-largest proven oil reserves and is the fourth-largest exporter of crude oil. It is also the fifth-largest exporter of natural gas. According to the Corruption Perceptions Index, Canada is perceived as one of the least corrupt countries in the world, and is one of the world's top ten trading nations, with a highly globalized economy. , Canada is ranked 15th on The Heritage Foundation's index of economic freedom. Its average household disposable income per capita is "well above" the OECD average. The Toronto Stock Exchange is the eighth-largest stock exch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ontario Provincial Legislation
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Canada, it is Canada's most populous province, with 38.3 percent of the country's population, and is the second-largest province by total area (after Quebec). Ontario is Canada's fourth-largest jurisdiction in total area when the territories of the Northwest Territories and Nunavut are included. It is home to the nation's capital city, Ottawa, and the nation's most populous city, Toronto, which is Ontario's provincial capital. Ontario is bordered by the province of Manitoba to the west, Hudson Bay and James Bay to the north, and Quebec to the east and northeast, and to the south by the U.S. states of (from west to east) Minnesota, Michigan, Ohio, Pennsylvania, and New York. Almost all of Ontario's border with the United States follow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
