22 - Friday, August 2,

1985 - North Shore News

Real estate licence
protects buyer, seller

A REAL ESTATE license is
a requirement for al! people
who make 2 living by
assisting in the buying and
selling of real estate on
behalf of other people. (You
do not need a licence to sell
your own property.)

Licensing exists to protect
the public against
unscrupulous and incompe-
tent people who would
otherwise be attracted to the
real estate industry because
of the large amounts of
money involved.

Buying a home is, usually,
the largest single investment
the majority of people make
during their lifetime.
Business and industrial
property also involve large
amounts of money. Where
there is money, there is
temptation for the
unscrupulous and a_ risk
when the unqualified
become involved.

Because of this, and
because of the number and

complexity of laws and regu-
lations which affect real
property, most people find it
in their best interest to
engage a professional to
assist them.

The key professional in
the real estate agency is the
Agent.

He or she miays be assisted
by one or more salespeople
who must also be licensed.
An agent is reponsible for
every transaction carried out
in the name of the agency.
There may be more than one
agent at an office.

To be licensed as a Real
Estate Salesman, the law re-
quires that the applicant be
of good reputation, com-
plete a course of study
prescribed by the Real Estate
Council, and pass an exami-
nation set and marked by the
University of British Col-
umbia.

This examination is writ-
ten only upon completion of
a four-month cor-

respondence course, or a
four-week in-residence
course, with about 140

classroom hours of instruc-
tion,

To be licensed as an agent,
the applicant must have two
years experience as a
salesman, and must pass two
additional examinations only
after completion of a year-
long correspondence course,
or a six-week in-residence
course at U.B.C.

The Real Estate Council
works closely with the
Faculty of Commerce and
Business Administration at
U.B.C. in developing and
maintaining the pre-licensing
educational programs. Hav-
ing the program ad-
ministered by the University
ensures uniformly high
standards,

To support the establish-
ment of the necessary real
estate educational facilities

See Would
Page 27

High professional standards
a mark of B.C. companies

UNDER OUR province’s
Real Estate Act, each real
estate firm must be supervis-
ed by an agent or nominee,
and must supply a bond in
varying amounts, depending
on the number of licensees
employed,

The minimum bond for a
one-person operation’ is
$10,000. For larger firms it
is proportionately higher. (In
addition, most Iccal Real

Estate Boards also carry
bonds which protect the
public in the event the indi-
vidual agency bonding pro-
ves insufficient).

For many years, our pro-
vince has been recognized as
maintaining one of the
highest standards in the
world, in.terms of real estate”
licence laws, standards of
education and practice, and
protection for the public.

Because of the importance
of real estate to society, the
need to regulate real estate
practices was recognised
many years ago. In Canada,
B.C. led the way with the
passing of the country’s first
Real Estate licence law, in
1922. In 1950, a significant
amendment to the Act came
into force with the creation
of the B.C. Real estate
Agents Licensing Board.

VERY SPECIAL HOME

Dundarave, % blk. to beach. 4 beds. with in-law
Raccom. and betier than new. Location. Ir

replaceable at 2595 Bellevue.
ELLEN GREGG 985-2045

fm Choice beach front property, vendor motivated
# and may assist in financing. $244,000. asking.
PAUL COLLINS 922-1619

: EAGLE HARBOUR VIEW
Semi-watertront, 3 bedraom home overlooking
Marina plus view of Georgia Straits.

MICHAEL MOLE 921-8226

BUY THE SEA .
2070 MARINE DRIVE W. VAN.
1 block to seawalk from this bedecked twnh, 2-3
bedrooms, lounge. family sized kitchen & dining.
Quiet shaded courtyard. $179,000 (p.s. maint, on-

ty 44,50)
SHIRLEY JOY 980-8585

NORTH VANCOUVER
Ideal starter, 3 storey character home. Central
location — useable basement.
MICHAEL MOLE 921-8226

MOVE IN IMMEDIATELY

“$94,000 1st mort. no qualifying. Spotless. Exten-

sively refurbished in & out. Lge. Private sunny
yard. Great family home & area. $130's. Call
anytime

IVAR FOSSEN 926-0473

WE SPELL VALUE
_OQ- R- W-E-L-L

AFFORDABLE
+ $17,055 downpayment
e $879 / mo. O.A.S.

' FEATURES:
e suite potential (income)
-@ thermo windows
totally insulated
e vinyl siding
«5 YEAR WARRANTY
® NO TRAFFIC + MORE

BENEFITS:

* lower owners costs

lower heat/cool cost

* lower maintenance
«SAFE FOR KIDS + MORE

EVE or BILL
985-1321
980-8619

10,000 DN.
NEST & INVEST
Who says you can’t afford to Own your ~
9 yr. old full basement home even’
Fenced yard and handy to ev
SHIRLEY JOY :

DESIREABLE “CAPILANO HIc
685 BEACONSFIELD
City, ocean & min. view, meticulous!, —.stain-
ed, spacious, 3 bdrms. & family roon: up. Full
bsmt., 3 baths, level sunny back yard.
VAR FOSSEN 926-0473

OUTSTANDING WATER VIEW
Spacious corner suite, 2 BRs, insuite laundry, six
appliances. $199,500.

PAUL COLLINS 922.1619, 980-8585

Saturday
Sunday
Monday

10:00 - 1:30
2:00-5:00
6:00 - 8:00

aos : a
~IKE STANLEY PARK
:ear grounds landscaped to perfection, f
oor sauna & shower. $146;900 — new kit-
chens, covered sundeck, siding and windows on &
an immaculate 16 yr. old home. j
SHIRLEY JOY 980-8585

WEST VAN $106,000
1 bedroom, great area for children on quiet §
cul-de-sac.
MICHAEL MOLE 921-8226

2 bdrm. maisonette at 2064 Purcell. Excellent §
starter! ,
ELLEN GREGG 965-2045