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Toronto Business Brokers – Qualifications Required

There are many ‘professionals’ who advertise that they are business brokers in Toronto, Ontario. These ‘business intermediaries’ offer services to assist business buyers and sellers in the business sale process. However many credentials and qualifications or experience they may have, if they are not properly licensed real estate and business brokers (or “sales representatives”) in the province of Ontario then they are not legally allowed to trade in businesses. This article is a quick overview of the licensing required to trade in businesses as per the Real Estate and Business Brokers Act, 2002.

Guidelines to Trade in Businesses
The RE & Business Brokers Act, 2002 states that in order to trader in businesses or real estate (under the Act, businesses are treated as ‘real property’) that a person must have a realtors license. They must be properly licensed and be working under a registered brokerage in order to legally trade in businesses in the Province of Ontario. When a person receives their realtors license that allows them to trade in businesses and real properties, only then can they start working with buyers and sellers and taking on clients. To call oneself a sales representative or business broker in Toronto without the proper licensing is not allowed. The correct nomenclature is business broker or sales representative or salesperson. There are far too many “business professionals” in Toronto that are not properly licensed that still trade in business so please deal only with a properly licensed and qualified individual. When in doubt, ask to see a ‘brokerage’ registration card if you need clarification.

Advantages to Dealing with Licensed Sales Representatives or Business Brokers in Toronto
Besides being the law, there are many advantages to dealing with licensed sales representatives or brokers in Toronto. In order to receive licensing a person must pass three 3-hour examinations in order to qualify for the educational training. The advised time frame to complete these studies is six to twelve months of rigorous study. In order to pass, a person must obtain at least a 75% passing grade on each examination. The selection process is quite intense. The body of knowledge that is covered includes such topics as agency law, ethics, dealing with clients/customers and an intense survey of the Real Estate and Business Brokers Act. Dealing with a properly licensed registrant means that you are dealing with a professional that has invested the time and effort to do things properly.

Registrants Must Work Under a Brokerage
Properly licensed real estate and business brokerage professionals must be affiliated with a brokerage in the Province of Ontario. There are several major advantages to the registrant for being affiliated with a brokerage but there is a major one for clients and customers. Real estate brokerages and business brokerages must have a Real Estate Trust Account at a Canadian bank. Funds that are deposited here are protected by statute for issues like bankruptcy, default, and fraud. Dealing with a properly licensed professional and brokerage should give you some significant piece of mind.

Please be aware that in order to trade in business in the province of Ontario that one must be properly licensed under the real estate & business brokers act, 2002. There are far too many ‘business brokers’ in Toronto so when you’re in doubt ask for their registration card or, better yet, ask to speak directly to their properly licensed and registered brokerage.

Business Networking at Its Best

Just like in any organization even offline, the best way to make people interested in joining and to finally seal the deal is to come up with additional benefits they can avail of when they become members.

Doing business is not a simple matter, that’s why it’s understandable for novices to find difficulties in having a secure spot in the field. This is contrary to experts who already earned tons of experiences to learn or deviate from. For the novice, there is no easy way to become an expert unless there are professionals who can teach you right away. For the experts, they could continue to progress by exchanging referrals with one another or by creating partnerships. Entrepreneurs have developed a way to make both of these conditions possible. Through business networking novices can have contact with the experts for support while experts have an effective way to communicate with others who could be possible clients or partners.

This has been done by different business communities in the different parts of the world across generations. In such system, an entrepreneur can create personal ties with other entrepreneurs so as to share whatever business plans he has in mind, or discuss matters pertaining to accomplishment of company goals and how another business can help. Since business networking introduces business minded people to each other, it allows open communication and easier access to different businesses. Moreover, business networking groups work to check on business marketing styles and strategies. The suggestions for improvements or examples to follow come from the members themselves. Online, business networking groups have also spread for the benefit online businesses.

Online businesses just won’t survive without the internet. But like any other business, a network of support is still of use. There could be hundred of business networking groups online, any business could start it; the problem rests on how to attract other businesses to join your own group. One effective means of doing this is to advertise the group online through a business networking website. Aside from making the process of joining a lot easier as websites can be the jump off point for a business to become a member, forums could also be discussed and a post could be made to introduce members to their co-members. The latter is an approved way for businesses to promote whatever product or service they offer not just for random visitors of the business networking website but also for co-members who could give you leads or avail of your services and products. A list of the members also makes it possible and easier for contacts, information, and communication. Still, through these online businesses networking groups business marketing techniques particular to online businesses are exchanged. Finally, because the power of the internet is huge, any business whether online or not can have for their business networking group a website which members can access for faster and easier ways to come together.

Building a group that has excellent members can be hard work so business networking groups rely much on their websites. However, attractive as they may seem, entrepreneurs interested in business networking must be critical in looking not just at websites but the benefits the group has for its members. The ABC Listing website contains names of its members in a categorized list depending on the type of products they sell or services the offer. This is aside from giving free memberships and a chance at winning amazing prizes.