Recently, I have had a number of different conversations with individuals that at the root of the conversation seems to lead back to one HUGE misconception in the property management industry. That misconception is what an unlicensed person can or cannot do for other landlords.
The photos below show 3 main misconceptions when it comes to what a unlicensed individual can do for another owner/landlord.
🚫 #1. 𝗡𝗢, an unlicensed assistant can 𝗡𝗢𝗧 complete showings on a property that is not their own.
🚫 #2. 𝗡𝗢, lease only services are 𝗡𝗢𝗧 a work around for being unlicensed. Just because you are not providing full management services does 𝗡𝗢𝗧 mean it is a service you can legally offer to the public.
🚫 #3. 𝗡𝗢, an unlicensed assistant can 𝗡𝗢𝗧 offer to or actually list real estate for rent for another landlord without being licensed.
All these activities require individuals to be licensed and working under a licensed brokerage as per the Real Estate Act of Alberta. What happens if you don't have a license? See link below directly to RECA's bulletin ( Fines of up to 25K) 😳👇