How to Set-Up your PREC in the Real App

If you have a Personal Real Estate Corporation you need to update your agent profile in our system so all reporting and tax information is added to your PREC and payments are processed correctly.

1. Ontario
2. Alberta
3. BC
4. Manitoba 

ONTARIO

1. Verify your PREC meets RECO - PREC Checklist
2. Sign your portion of the Brokerage PREC Agreement
3. Send the following to supportcad@therealbrokerage.com 
   1. Signed PREC agreement
   2. Articles of Incorporation
4. Once our team approves everything that has been sent, we will then send you back a fully signed copy of the PREC Agreement
5. Once you receive a fully signed copy of the PREC agreement, you need to update your tax information in reZEN.

ALBERTA

To be paid as a corporation in Alberta, you must have documentation that shows: 

• Name of Corporation (this must match entity name in reZEN profile)
• You listed as a 50% or more shareholder. 

Per RECA, your documentation must be updated annually to ensure compliance.

If you incorporated in the last year, you can send:

• Articles of Incorporation - the incorporation date must be within the past year.

If you have been operating more than one year, you must send:

• Current Annual Corporate Return; or

  • Note the annual return is not your corporation's tax return filed with the CRA. The Corporate Annual Return must be submitted every year to Corporations Canada within 60 days of its anniversary date How to file and pay for an application.

• Current Corporate Registry Search.

Once you have the required documentation:

1. Send documents to:  supportcad@therealbrokerage.com
2. We will review your documentation and let you know if it is approved.
3. Once approved, you need to update your tax information in reZEN.

BC

1. CLICK HERE for the BCFSA-specific guidelines for moving a license to a PREC as well as advertising guidelines.
2. Once approved for the change you need to update your tax information in reZEN.

Manitoba

1. Agents need to notify MSC of the transfer of their PREC using the template available here.
2. Complete and submit the PREC application form with a local member board, if required (WRREB or BAR)
3. Send a copy of the Articles of Incorporation for the PREC to supportcad@therealbrokerage.com to be kept on file with the Brokerage.
4. Once complete, you need to update your tax information in reZEN.

How to update reZEN with your PREC (desktop):

Desktop instructions are below - click here for in-app instructions.

• Login to reZEN. Click My Dashboard on the left side of reZEN. Then click Overview. 

• The Personal Tax ID section must be filled out - even if you want to be paid as a business entity. Click show next to your Social Insurance Number (SIN) to make sure your SIN is correct. If you need to make a change, click + Add or + Edit.
• To be paid as a PREC / Corporation, you must fill out the Business Entity Tax IDs section. Click + Add or Edit.

• A module will open. Enter the information for your business and click Save. You will need - 
  • Your Business Entity Name - exactly as it appears on your registration documents
  • Your Business Number - exactly as it appears on your registration documents
  • Your GST/HST/PST/QST number for your business (you can copy/paste the same one if you are only registered in one province). 

• Once your reZEN profile is updated, click Tipalti Account on the left side. This will open Tipalit, our third party payment processor, in a separate tab. Please update Tipalti with your PREC information - How to setup your Banking (direct deposit / eCheck) in Tipalti

How to add your PREC to reZEN - In-App Instructions

In-app (mobile) instructions are below - click here for desktop instructions.

• Open the Real reZEN app on your phone
• Click the hamburger menu (three lines in bottom right corner), then click See Profile and scroll down to click on Tax Information. 

• Click the pencil icon next to Business Entity Tax IDs to edit your corporation / PREC information. You will need to enter your Business Number (BN) and corporate GST/HST/PST (if you only have one number you can enter the same for every field). Click Save when finished. 

• Back in your profile (click the three lines in bottom right corner, then click See Profile), scroll down and click on Payments (Tipalti). This will open Tipalti, our third party payments processor. Please fill out information for your PREC here: How to setup your Banking (direct deposit / eCheck) in Tipalti