2025 Annual Commission Update #110858-2025 ACU

Video Transcription

Video Summary

The 2025 Annual Commission Update offers an overview of essential real estate topics for licensees. This four-hour mandatory course covers compliance, general practice issues, current legislation, and concludes with an exam. In compliance, the focus is on broker competency, continuing education audits, transaction file management, and the complaint process. Broker competency, especially, is scrutinized as issues with effective communication and understanding of regulations, such as short-term rental rules, can lead to complaints. Continuing education is vital, with audits on the rise due to noted competency gaps. Brokers must ensure compliance with cycles and credit requirements, maintaining accurate records to avoid penalties. The importance of brokers retaining transaction files for four years, regardless of brokerage disposal, is emphasized, especially when complaints arise. It's noted that complaints can be initiated by the public or the division, requiring a thorough broker response to avoid disciplinary action. The session stresses regular updates to broker contact information with the Commission and highlights best practices for maintaining necessary documentation. Attendees are reminded of new rules for online meeting attendance credit and encouraged to verify course approvals with the Commission.

Asset Subtitle

Please download and/or print the ACU slide deck in order to follow along with the video.

Keywords

real estate

broker competency

continuing education

transaction file management

compliance

complaint process

legislation