New Brokerage Registration
Corporate Brokerage
Articles of Incorporation
A copy of the Articles of Incorporation.
Shareholder, Officer, and Director Registers
A copy of Form 1 Initial Return/Notice of Change must be filed with the Ministry of Business Services. A copy of this notification should be forwarded to RECO with the Articles of Incorporation. In lieu of the above document, we will also accept the Confirmation of Electronic Filing.
Master Business Licence
Required if you are registering a trade style name in addition to the legal name of the corporation.
Application for New/Reinstatement of Brokerage/Branch
Section A
- Name, Title, Signature of Authorized signatory and date of signing
Section B
- Business Category
- Legal Business Name
- Ontario Corporation Number
- Trade Style Name (if applicable)
- Business Address
- Contact phone, fax, email
Section C
- Address for service if different from the Business Address and contact phone and fax numbers
Section D
- Broker of Record designation
- Page 8, Corporate Resolution of the Board of Directors is also required to be completed
Section E
- Notice and Consent – signed by the broker of record
Section F
- Name of Financial Institution
- Real Estate Trust Account Number
- Address of Financial Institution
A copy of the signature card on file with the bank/financial institution must also be included. The signature card must reflect the following:
- Real estate trust account number
- Corporate name (Legal Business Name) & Trade Style Name if applicable
- Broker of record name, title, and signature
- Account type – Real Estate Trust Account (not ‘in trust’ or ‘trust account’)
- Signatory instructions – broker of record sole signing authority
The Real Estate Trust Account must be indicated as a ‘Real Estate Trust Account’, and not simply as a ‘trust account’.
Section G
- Name(s) of the shareholder(s) owning or controlling 10% or more of Equity Shares and the percentage of shares owned
Section H
- Name, RECO Registration number, Title, and date of appointment of all Officers and Directors of the Corporation
Section I
- Each officer and director of the corporation is required to complete this section
- Supporting documentation corresponding to any disclosures made is required to be submitted
Section J
- Disclosure questions to be answered by an Officer or Director of the Corporation on behalf of the Corporation
- Supporting documentation corresponding to any disclosures made is required to be submitted
Sections K and L (if applicable)
Notice of Employee Change Form: Termination/Transfer
- This form will be provided during the application review process and is to be completed in full in order to transfer the incoming broker of record from their current brokerage to the new brokerage.
- A copy of the signed and dated termination/resignation letter must be included with the form.
- Termination dates on the form and letter must match.
Should you wish to ensure ease of transition between your current employer and the new corporation, you may ask your current broker to write a letter indicating that the broker of record agrees to terminate your registration with their firm, 1 day prior to the registration of your corporation.
Application for New Broker Registration
If, instead, you are intending to register as a new broker at the same time as the new brokerage is being registered the requirements are as follows:
Once you have successfully completed the courses, and passed the Real Estate Broker Course examination, you will need to apply to register as a broker and provide course transcripts along with your application.
Note that to register as a broker you must have been employed as a salesperson for at least 24 of the 36 months preceding your application date.
The Application for New: Salesperson/Broker must be completed and submitted to RECO accompanied by an original Canada-wide criminal record and judicial matters check (as noted below), the additional elective and broker’s course transcripts, a completed payment form for the applicable fee and a copy of your letter of resignation to your current brokerage.
Credit Card Payment Form
Separate payment forms should be submitted for the New Brokerage fee and the Transfer fee. If the broker of record is someone other than yourself, we will require the same documents detailed above (transfer form and termination letter) from them plus the fee for that transfer. This also applies to any salespersons or brokers who transfer into your corporation.
An Original Canada-wide Criminal Record and Judicial Matters Check
Completed within the six months prior to submission of the application is required at the time of application for the broker of record, each shareholder, and each officer and director. This may be obtained through your local police department.
Once the documentation is compiled, please forward it to the attention of the Registration Department.
Please note that if the brokerage is part of a franchise, you must submit a copy of the fully executed franchise agreement with the application.
