Real Estate Council of Alberta (RECA) recently shared that an unlicensed brokerage operated by two unlicensed individuals was charged for offering mortgage and real estate services without a licence.
Consumers and licensees should always be aware of who they are dealing with when making real estate and mortgage transactions.
Using licensed brokerages and individual licensees protects consumers under the consumer protection fund in case of fraud or breach of trust. Licensed individuals have the education and accountability necessary to provide competent service to the public and are required to carry errors and omissions insurance.
Consumers and licensees should verify the licence status of brokerages and individuals on RECA’s website by following these steps:
- Go to RECA’s “Find a Licensee” search tool.
- Click “search by person” or “search by brokerage.”
- Type the full name and click “search.”
- Check whether the status is “active” in the far-left column.
This incident is a great reminder of the importance of lockbox safety and why SentriConnect® should be used instead of one day codes. For a refresher on best practices, please read the articles below.
Lockbox safety
Taking appropriate precautions to protect sellers’ homes is a necessity in this industry. We know our members are aware they must have control of their properties during showings and it’s equally important for listing agents to know who is entering those properties. Click here to read the full article.
SentriConnect® vs. one day codes
What should you do when someone other than a CREB® member needs access to a property? When gaining access to a lockbox, all REALTORS® should be subscribed to use the SentriKey® Real Estate app, but there are other approved individuals who may need access as well. That is where SentriConnect® comes in. Click here to read the full article.
Do your due diligence
Remember, it is your responsibility to verify whether the person you are dealing with is a licensed professional.
For more information, please contact the CREB® Help Desk at 403-781-1379 or helpdesk@creb.ca.
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