A branch office, as defined in the regulations, is any place where the public is invited to attend to transact business. Brokers and agents who maintain separate offices must list those offices as branches to be noted with FSCO. Any change of address for branch offices must be notified to FSCO within five days.
Brokers or agents who do not work out of a specified office, but invite the public into their home to do business must list their home address as a branch office.
A broker or agent who does not invite the public into their home, but simply runs a home-based office, is not required to notify FSCO of a branch. However, that address may not be listed on any marketing materials.
Supervising Branch Offices
Recommendations for supervising of branch offices include the following;
Each branch to be staffed at least one agent with a minimum 5 years of experience
Real Mortgage Associates will require a senior broker to conduct monthly face to face meetings and weekly telephone updates with assigned agents at branches to review transactions.
