The name industry member is used to refer to the industry as a whole. This distinction is due to the different licence/registration types available. The terms Broker, Branch Manager, Associate Broker and Salesperson are names that refer specifically to classes of licence/registration for real estate (residential, farm and commercial) and property management.
The Saskatchewan Real Estate Commission is responsible for licensing/registering and regulating the real estate industry in the province. All industry members (regardless of licence type) comply with The Real Estate Act, its Rules and Regulations.
The following are the licence/registration types for Saskatchewan real estate:
Brokerage: is a legal entity, licensed/registered to trade in real estate. A sole proprietorship, partnership, or corporation can obtain a brokerage license/registration.
Broker: A brokerage must employ a licensed/registered broker to operate the brokerage. Brokers ensure all brokerage business conducted is in compliance with The Real Estate Act. The broker is responsible for the supervision of all staff Ė including associate brokers and salespeople licensed/ registered with the brokerage.
A real estate broker may also represent buyers and sellers in their real estate transactions. In small brokerages, the broker often represents clients in addition to management duties. In larger operations, the broker tends to focus on the management role.
As a consumer working with an industry member, you may have concerns with your industry memberís activities. If you cannot resolve them directly with the industry member, you can consider contacting the industry memberís broker to discuss the matter.
Branch Manager: A brokerage must employ a registered/licensed branch manager to operate a branch office for a brokerage. A branch manager may also represent buyers and sellers in their real estate transactions in addition to his/her duties and responsibilities to manage the branch office and supervise the industry members working at that branch office location.
Associate Broker: An associate broker has the necessary qualifications to become a broker, but currently holds the role and responsibility of an associate broker. An associate broker may also represent buyers and sellers in their real estate transactions.
Salesperson: A salesperson is likely the person you will be dealing with. This individual has successfully completed the pre-registration entry-level educational requirements and is employed by the brokerage to trade in real estate.
While the brokerage is the legal entity, licensees/registrants are the brokerageís representative.
Consumers are cautioned to protect their interests by dealing with licensed/registered individuals and brokerage. To confirm the license/registration status of an individual; visit the Public Inquiries section on the Commissionís website at: https://ols.srec.ca/aspx/pubinquiry.aspx.