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Real Estate Agents

The real estate industry is co-regulated by FCNB who administers the Real Estate Agents Act, and the New Brunswick Real Estate Association (the Association) which administers the New Brunswick Real Estate Association Act.

The Association is responsible for the education and discipline of its members respecting their Code of Ethics and Standards of Business Practices.

The Real Estate Agents Act provides FCNB the authority to investigate certain complaints, and to order financial audits when necessary. Penalties are provided for non-compliance.

An agent's licence is issued by Consumer Affairs to the corporate body, partnership, or individual who is legally responsible for contracts, financial accountability, advertising, and the activities of each of its salespeople. The Real Estate Agents Act also requires that each salesperson representing the agency hold a licence and requires that a manager be licensed for each office location. Licensing fees and bond requirements vary depending on the number of salespeople and managers employed and are outlined in the fee tables.

Applying for a license

Agent's licence

Those wishing to apply for an Agent’s Licence under the Real Estate Agents Act must:

  • have a permanent office located in the province New Brunswick
  • if an individual, the agent must be a citizen of Canada or have the status of a permanent resident of Canada
  • provide an address for legal service in the Province
  • submit a completed application for Real Estate Agent’s Licence
  • submit a bond in the prescribed amount, depending on the number of salesmen and managers employed in a form approved by the Director that is payable to the Commission
  • submit applicable application fees, payable to the Financial and Consumer Services Commission

Licences are valid for a term of 12 months. Upon application for renewal, licensees must complete and submit all licensing forms and information requested above with the exception of the bond. At renewal, applicants must submit a bond continuation certificate. Your insurance agent can provide you with this certificate.

Salesperson's licence

Individuals wishing to apply for a Salesperson’s Licence under the Real Estate Agents Act must:

  • be a citizen of Canada or have the status of a permanent resident of Canada
  • provide an address for legal service in the Province
  • submit a completed Application for a Salesperson’s Licence
  • attach a completed Criminal Record Check, conducted at a detachment of the RCMP or a municipal or provincial police force, or an approved background check vendor, which has been issued in the last six months
  • be a member in good standing with the New Brunswick Real Estate Association, which includes the successful completion of the educational programs and examinations required by the Association
  • submit a licensing fee of $50, payable to the Financial and Consumer Services Commission
  • file a declaration by the agent that the salesperson is to act as a salesperson employed by and representing that agent.

Salesperson’s and Manager’s licences are valid for up to one year and expire on the same date as the licence of the Agent they are employed by. For example, if a salesman becomes licensed two months after the Agent has been licensed, the salesman’s licence will be valid for only 10 months. To renew a salesman’s or Manager’s licence, applicants must complete and submit the same items listed above.

Manager's licence

Individuals wishing to apply for a Manager’s Licence under the Real Estate Agents Act must:

  • be a citizen of Canada or have the status of a permanent resident of Canada
  • provide an address for legal service in the Province
  • submit a completed Application for Real Estate Manager’s Licence
  • be a member in good standing with the New Brunswick Real Estate Association, which includes the successful completion of the educational programs and examinations required by the Association
  • attach a completed Criminal Record Check, conducted at a detachment of the RCMP or a municipal or provincial police force, or an approved background check vendor, which has been issued in the last six months
  • have completed the Manager’s course through the New Brunswick Real Estate Association
  • submit a licensing fee of $75, payable to the Financial and Consumer Services Commission

Salesperson’s and Manager’s licences are valid for up to one year and expire on the same date as the licence of the Agent they are employed by. For example, if a salesman becomes licensed two months after the Agent has been licensed, the salesman’s licence will be valid for only 10 months. To renew a salesman’s or Manager’s licence, applicants must complete and submit the same items listed above.

Fees

Agency

0-5 salespeople

$100

6-10 salespeople

$200

11-20 salespeople

$300

20+ salespeople

$500

Branch office

$100

Manager 

$ 75

Salesperson

$ 50

Bond Requirements

0-1 salespeople or managers

$10,000

2-10 salespeople or managers

$20,000

11-20 salespeople or managers

$40,000

21-30 salespeople or managers

$60,000

31-40 salespeople or managers

$80.000

41+ salespeople or managers

$100,000