CEA

License estate agents (aka agencies)
Register salespersons (aka property agents)
Every year to renew license, 6h CPD
After taking course, must take exam within 2y
After passing RES exam, must register within 2y
- If not must retake course and exam
Continuing Professionalism Development (CPD)
Annual Renewal $53.50
- 4 Professional Credits + 2 Generic Credits
- 1 module = 2 credits = ~$40 self pay or free
- Every Nov
  - 1st year no need renew
- The credits need to earn between Oct 1 - Sep 30, before renewing in Nov
NEW 2027: 12h Professional (including 4h essentials eg. regulation) + 4h Generic
Code of Ethics and Professional Client Care (CEPCC)
Offenses can be:
1. Court prosecution for criminal offenses
2. CEA Disciplinary Committee up to $100k for RES, $200k for EA
3. Letter Of Censure (LOC) Disciplinary Regime for minor breaches up to $5k
Must NOT represent both parties
- But possible to represent buyer, yet only get commission from seller via a commercial contract (for referring buyers)
If agent self-represent, cannot collect any comm or co-broke from the other party
- Agent buy a property, cannot co-broke (as if no agent)
- Agent sell a property, can either pay buyer agent, or sell direct
- Must disclose
SOHO
- Marketing term
- Either residential or commercial
  - Cannot be BOTH
Disclosures:
- Relations eg. ex-spouse, sibling, employer, biz partner
- Business referral eg. bank
- Same EA + any overriding fee (up line)

Offences and fines

Category	Fine	Offence
Very serious	$75k/3y	Acting as EA
Serious	$50k/3y	Falsify EA documents
Medium	$25k/1y	Acting as RES, dual representation, referral to moneylenders Regulation of Estate Agency Work
Light	$10k/6m	No lanyard, fail to submit document
Very light	$5k, $2k	False representation