Regulating Industry

How do I become a broker agent?

Becoming a broker agent

 

Individuals promoting themselves as consumer’s agents or brokers must be licensed by the VSA as of April 1, 2018.  To be sure that the agent or broker is acting in the best interest of a buyer:

  • A consumer’s agent or broker must be charging the buyer a fee for their services and not collecting any payment from the dealer
  • If an agent or broker is collecting a fee from the dealer they are breaking the law
  • Brokers and consumer’s agents cannot own or have an interest in the vehicles they are selling.

When an agent or broker is involved in a purchase, the dealer remains primarily responsible for any improper practices that might occur before, during and after the sale.  The agent or broker may be jointly responsible in some situations.

If you are interested in becoming a licensed broker agent, please contact VSA Licensing at 604-575-7253 or licensing@mvsabc.com for more information and/or to obtain an application. The VSA will determine if a broker agent licence is needed.

To become a licensed broker agent, certain conditions need to be met.  Contact the licensing department to inquire about these conditions.


Who needs a broker agent licence?

A person acting as a business including a sole-proprietor, who assists another person to purchase, lease, exchange or otherwise acquire a motor vehicle for that person’s personal use.  The broker-agent can be a corporation, partnership, joint venture, an individual acting as a sole proprietor or any other type of company arrangement. 

Individuals promoting themselves as consumer’s agents or brokers must be licensed by the VSA.  To be sure that the agent or broker is acting in the best interest of a buyer:

  • A consumer’s agent or broker agent must be charging the buyer a fee for their services and not collecting any payment from the dealer
  •  If an agent or broker is collecting a fee from the dealer they are breaking the law
  • Broker agents and consumer’s agents cannot own or have an interest in the vehicles they are selling.

When an agent or broker is involved in a purchase, the dealer remains primarily responsible for any improper practices that might occur before, during and after the sale.  The agent or broker may be jointly responsible in some situations.

Broker agent licence fees

In accordance with the Fee Setting Criteria Regulation, B.C. Reg. 342/2007, take notice that the Vehicle Sales Authority of British Columbia has established the broker agent fee schedule found here.
 

Broker agent licensing general requirements

See the broker agent licensing general requirements here.
 

Still have a question?

Contact VSA Licensing at licensing@mvsabc.com