Under REBBA, who is exempt from the requirement to be registered for trading in real estate?

In the context of the Real Estate and Business Brokers Act (REBBA) in Ontario, an important exemption from the registration requirement for trading in real estate involves licensed auctioneers during an auction. This exemption is crucial because during the process of an auction, licensed auctioneers are considered specialists in their field and are conducting specific activities relating to the sale of goods. They are not engaging in the traditional activities of real estate trading that other parties would be involved in. As such, under REBBA, licensed auctioneers are exempt from the requirement to be registered for trading in real estate.

The other options can be quickly ruled out.

• An individual leasing their own property is exempt as they are not acting on behalf of others.

• A property manager leasing commercial space would need to be registered as they are representing the property owner.

• A licensed real estate salesperson needs to be registered as they are directly involved in real estate transactions.

• A lawyer performing standard legal duties is not exempt from registration unless they are solely engaging in legal services without involvement in real estate transactions.

• A financial institution owning the property is exempt as ownership does not equate to trading in real estate.