Real Estate Licensing considerations for EMDs

Exempt Market Update | OCTOBER 30, 2013
David Brown
In the recent editions of Exempt Market Update, in the articles Engagement Letter Best Practices Part One and Part Two, we focused on two topicalfeatures of an EMD's engagement letter: exclusivity and fee-tails. In this edition we consider an oftenoverlooked, but critical aspect of the regulatory environment in which EMDs operate – the broker licensing requirement under the Real Estate and Business Brokers Act (Ontario)(REBBA or the Act). This requirement can certainly have an impact on drafting an engagement letter, as well as much wider implications for the offering of M&A advisory services in the province of Ontario.