Top Oak Bay Real Estate Brokerages, Companies, and Firms
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Stats on Oak Bay Real Estate Companies
There are 39 registered Real Estate Agents in Oak Bay, who are members of the 3 brokerages listed above.
The Oak Bay, BC agent stats below include Realtors, Mortage Brokers and Insurance Agents.
| Total Agents | 39 |
| Reviewed Agents | 20 |
| Reviews on File | 841 |
| Average Overall Rating | 4.93 |
Oak Bay Real Estate Companies: Questions & Answers
Re/Max Camosun Oak Bay is the best in Oak Bay. This is based on an average rating of 4.9 from 19 reviews of 1 agents.
Centruy 21 Royal Victoria is the largest brokerage with 22 agents and a total of 5 reviews in Oak Bay.
A real estate brokerage is a special kind of company that is licensed to facilitate real estate transactions. Real estate brokerages are required to have Managing Broker registered on their license. The Managing Broker is responsible for reviewing and signing off on all real estate transactions facilitated by agents who are registered with their brokerage. This makes brokerages responsible for training agents and holding them accountable to legal standards. In return, brokerages receive a fee from agents. If you can see a conflict of interest here, you’ve identified a common critique of this system.
In practical terms, a broker can manage a brokerage, while an agent cannot. A broker can still act as an agent, but an agent cannot act as a broker.
The technical definition follows:
There are different licensing levels. Licensed Agent is the first level and is a prerequisite to getting a broker license. A broker license is required to become an Associate Broker or Managing Broker. Every brokerage requires a Managing Broker or Broker of Record to be registered on their license. An Associate Broker is optional, but would still be required to be registered if they are operating in that role.
Here are the average brokerage fees in Canada?
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Last Updated: May 20, 2024