It is important to note the new changes to the continuing education program as implemented by RECO.
For anyone requiring a renewal of their registration before 31 July 2013, the existing system applies.
The existing requirement is:
1) RECO Update offered by OREA (worth 6 credits), and
2) 18 additional elective credits offered by Approved Education Providers.
For anyone requiring a renewal of their registration commencing 1 August, the new system applies.
The new system is the completion online of a series of educational modules on the RECO website. This program is expected to take 6 to 9 hours to complete. No additional credits are required.
Although there is a two year transition period where the two programs will run simultaneously, effectively the entire system changes 1 August 2013. After that date, OREA will no longer offer its RECO Update by correspondence, in classroom or online. That program is required in order to make use of the other credits that a registrant may have accumulated.
For those who prefer the classroom format, it will be necessary to take the RECO Update offered by OREA through one of the local real estate boards prior to 1 August 2013.
The previous requirement had been 24 hours of continuing education over a period of two years for renewal of registration. Commencing 1 August 2013, that requirement has been reduced to about 6 hours of online participation in the series of RECO modules.
Registrants who wish to seek additional information, education or training will undertake such interests on their own. Many local real estate boards will continue to offer programs of interest, however, they will no longer be accredited in any way.
The result, of course, is that those who wish to seek it, will obtain it, and others will let it pass. Nevertheless, there is a continuing obligation to stay current in the field from the perspective of professional standards, professional liability and professional excellence.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through RE/MAX West Realty Inc., Brokerage 416-745-2300.