The Board is reminding dealers and salesmen, who practice after the March 31 expiration of their current licence, that they are in fact practicing in contravention of the law.

Some practitioners might be minded to take the entire months of April (in this case), and September as the payment period, while still practicing during those months and making payment at some point therein. Dealers and salesmen are also allowed by law to pay the annual licence fee in two instalments, with a deadline of March 31 and August 31. The April 1 instalment covers the period April 1 to August 31, with the second instalment due September 1, covering the period September 1- March 31.

The fact is the full licencing period runs for one year (365 days) and expires on March 31. As per Section 10 (1) of the Real Estate (Dealers and Developers) Act, anyone who conducts business without a valid licence does so illegally.

It is also worth noting for the protection of practitioners, that as per Section 47 of the Real Estate (Dealers and Developers) Act, anyone who engages in the practice of real estate as a dealer and salesman without being the holder of a valid licence, is not entitled to bring any suit or action for the recovery of any fees or compensation for anything done on behalf of another person.    

Recent indications coming to the Board, point to the fact that some practitioners are still not aware of the fact regarding the licensing period.  The April 1-30 window, represents the period in which practitioners may pay their renewal fee, before a 50% late-penalty fee becomes applicable.

The ability to pay via the Board’s Client Portal has made payment of the renewal fee a seamless process.  The Portal is an online payment platform that real estate dealers and salesmen can use to pay their licence or penalty fees using any (debit or credit) Visa or MasterCard.  Since the platform has built-in verification and confirmation processes, it is the payment option of choice for real estate dealers, salesmen and strata corporations.  

Payment may be made in-office using any credit or debit card, as well as the bill payment platforms available by NCB and Scotiabank.  Full details on payment options may be found here.