RECO / TRESA · Business & conduct
The articles expressly permit remuneration from someone other than the employing brokerage
What the rule requires
A referral fee or side payment from a third party for trading in real estate breaks eligibility.
Authority: O. Reg. 536/20, s. 3 ¶¶5 and 6 (remuneration)
What goes wrong
The articles do not limit where remuneration may come from. They expressly permit the corporation to take remuneration or referral fees for trading in real estate from someone other than the employing brokerage, which O. Reg. 536/20, s. 3 paras 5 and 6 do not allow. A single payment on that footing ends the registration exemption.
What good looks like
The articles contain a provision to this effect.
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