How to become Real Estate Agent in Ontario Canada

Опубликовано: 20 Июнь 2021
на канале: UpskillTalks

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How to become real estate agent in Ontario

In this video I talk about process to become real estate agent in ontario. You can read it here as well.

Step 1: Fulfill the Admission Requirement
Option 1:

Starting in July 2019 (registration starts), all applicants wishing to become a real estate salesperson must take the real estate educational courses (1st course starts September 2019) through Humber College:

To be granted admission, you must:

Have a Canadian secondary school diploma, or GED certificate, or an acceptable equivalent credential.
Or if you do not have the above then below are the acceptable equivalency credentials:

Option 2

If you do not satisfy any of the above, then you can simply write the “Salesperson Program Admission Exam”.

Applicants should register and successfully complete the exam before applying to the Real Estate Salesperson Program.

There is a 75$ fee for registering for the exam.

For details on how to register for the admission exam please click here.

Okay! What now that I’m qualified for admission?

Step 2 Pre-Registration Phase
Congratulation for fulfilling the admission requirement! Now you can start taking the Humber College Real Estate Program!

You’ll have to take the following courses in order to complete the program:

Course 1: Real Estate Essentials – eLearning (525$)

Course 2: Residential Real Estate Transactions – eLearning (595$)

Course 3: Additional Residential Real Estate Transactions – eLearning (315$)

Simulation Session 1: Residential Real Estate Transactions (750$)

Course 4: Commercial Real Estate Transactions – eLearning (315$)

Simulation Session 2: Commercial Real Estate Transactions (600$)

Course 5: Getting Started eLearning (90$)

There will also be an exam for courses 1-4 that comes with an exam fee of 100$ for each course totaling 400$.

Therefore, you should expect to have a budget of minimum 3590$ for the pre-registration phase.

Step 3: Registration with RECO
Upon completing the Pre-Registration Segment, you have 12 months to register with RECO.

To become registered as a salesperson with RECO, you must:

Be a resident of Canada

Be at least 18 years of age

Complete the Pre-registration segment courses within 18 months

Obtain employment with a registered brokerage

Make an application for registration with RECO within 12 months of completing the Pre-registration segment

Apply for registration within one year of completing your last Pre-registration course

Complete and submit the forms approved by Registrar under REBBA 2002, along with the relevant fee

Please note that you’ll need to purchase insurance from RECO as well. More details here.
Step 4: Post Registration Phase
This is the last and final phase where you’ll need to stay compliance and demostrate your knowledge by taking additional elective courses.

Compliance – eLearning – 300$
Elective Courses (two electives @ $135 each)
Wrap-up Session – 200$
At the last and final phase, you’d expect to spend about 770$.

RECO Fees Associated with New Real Estate Agent
New Salesperson $590 ($390 + $200 application review fee)
New Salesperson – Interprovincial $590 ($390 + $200 application review fee)
$200 application review fee for a change during a registration cycle (no fee if processed with a renewal of registration)
Other Fees
There are also other fees such as local real estate board, fees you’ll need to pay to your broker etc. A good ballpark figure is close to 10,000$ when you take everything into account and give yourself a little wiggle room.

Links :
1. https://realestatelicensehq.ca/licens...
2. https://www.reco.on.ca/real-estate-pr...
3. https://www.royallepageinfinity.com/r...
4. https://humber.ca/realestate/

#realestateagent #howtobecomerealestateagent