Law & Policy

March 5, 2008

TO ALL REAL ESTATE BROKERS,
AUTHORIZED OFFICIALS AND SALESPERSONS

PRESENTATION OF OFFERS PRACTICE DIRECTIVE

The Manitoba Securities Commission (the “Commission”) together with the Manitoba Real Estate Association (the “MREA”) is issuing a practice directive pertaining to the presentation of offers. This directive, a copy which is attached to this notice, comes into effect March 31, 2008. The directive will also be covered in the upcoming Mandatory Continuing Education course (MCE 8) however it is also advisable that all brokers make their authorized officials and salespeople aware of this directive prior to March 31, 2008.

This directive replaces the multiple offer directive issued on July 5, 2007.

Note: Failure to comply with this directive may result in disciplinary proceedings by both the Commission and the MREA.

MANDATORY CONTINUNG EDUCATION (MCE 8)

This is the eighth year of Mandatory Continuing Education (MCE 8) which will commence on April 1, 2008. The program this year is back to a one day course dealing with legal issues and practice guidelines together with the multiple offer practice directive.

Registrations renewed on, from and after April 1, 2008 will be conditional on completing MCE 8 before the next renewal date.

A copy of the registration form can be obtained from the Commission’s web site, www.msc.gov.mb.ca. Please ensure that all registrants obtain a copy of this form. Registration is made through the MREA as indicated on the form.

There are two sessions, May 29th and September 4th being offered for commercial realtors.

Anyone who has not taken MCE 7 and is required to do so should note that further seminars are not being scheduled and it will be necessary to take MCE 7 by passing two exams which are not open book. If this applies to you contact the MREA.

Please note: All new salespersons that became registered as of January 1, 2008 will be required to take MCE 8 before their next renewal date.

Brokers should advise all registered authorized officials and salespeople of the schedule of courses and encourage them to enroll in MCE 8 as soon as possible to avoid a lapse of registration on the next renewal date.

W.D. Baluk
Registrar
The Real Estate Brokers Act