In the real estate world in BC, there are three levels of license that an individual can hold. New real estate agents start with a Representative license, and most remain with that level throughout their career. This is the most common level of licence is use in BC real estate.
After two years of experience working as a Representative and completing a very extensive training course covering everything from real estate law and liability, to human resources and management, to financial statements and trust accounts, Representatives can write an exam in order to become qualified for the other two levels of license, either Associate Broker or Managing Broker. Every real estate office must have a Managing Broker who is responsible for the day to day operations of the office and takes on a fairly high level of liability for the transactions and business dealings that office participates in. The Associate Broker is qualified to that same standard, and can fill in for the Managing Broker during their absence. Both Associate and Managing Brokers remain fully licensed to perform the duties of a Representative.
In late October, I wrote my Broker's Business Licensing and Financial Management exam. Two weeks later I received my result and immediately applied for my Associate Broker's license, which was granted two weeks after that. As of November 25, 2020, I am an Associate Broker for RE/MAX Discovery Real Estate in Creston, BC!