To become a registered real estate salesperson in Ontario, you must complete registration education courses administered on behalf of RECO by the Ontario Real Estate Association Real Estate (OREA) College. You start by contacting the OREA College. This is the only school in Ontario that people can become a REALTOR with. (Any other “schools” you see online are for people already licensed and looking for designations).
THERE ARE FIVE STEPS YOU MUST FOLLOW:
- Complete your pre-registration education requirements (see below)
- Obtain your Police Check
- Choose your Brokerage
- Register with RECO
- Purchase Insurance Coverage
REGISTRATION EDUCATION REQUIREMENTS
You can become licensed rather quickly…or choose to take your time (you have 18 months from registration to complete the courses listed below). You do not pay for all courses up front. It’s pay as you go! Here are the courses you will need to complete in the 18 months:
- Real Estate as a Professional Career
Real Estate as a Professional Career is offered in the Classroom and by Correspondence or e-Learning, allowing students to proceed independently. This course introduces basic real estate concepts, details the Salesperson/Broker relationship, explains market dynamics, and includes various mathematical calculations.
- Land, Structures and Real Estate Trading
This course examines detailed statutory requirements, accepted trading practices, and technical requirements concerning representation relationships. This program is available through correspondence, e-Learning and classroom instruction (a 60 hour course).
- The Real Estate Transaction - General
This course provides a detailed overview of the real estate transaction, from listing agreement through to the final sale.
- The Residential Real Estate Transaction
This course provides a detailed overview of a residential real estate transaction, from listing agreement through to the final sale, and explores current trends and issues that impact residential real estate.
- The Commercial Real Estate Transaction
This course provides a detailed overview of a commercial real estate transaction, from listing agreement through to the final sale, and explores current trends and issues that impact commercial real estate.
- Real Property Law
Real Property Law provides students with a clear understanding of legal issues concerning property ownership and in-depth knowledge of a number of legislative acts.
Courses - Pre-registration Segment Fee [ Subject to change ]
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Real Estate as a Professional Career $ 525.00
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Land, Structures and Real Estate Trading $ 545.00
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The Real Estate Transaction - General $ 425.00
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The Residential Real Estate Transaction $ 425.00
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The Commercial Real Estate Transaction $ 425.00
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Real Property Law $ 505.00
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Total cost $2,850.00
OREA is the starting point and they have staff ready to help you understand the time and cost involved. Below is the colleges contact info:
OREA Real Estate College
- For all OREA Real Estate College queries, please call:
- Tel: 416-391-6732 or 1-866-411-6732
- Fax: 416-445-2113
- Monday - Friday, 8:30 a.m. - 7:00 p.m.
RECO REGISTRATION
When you have successfully completed the courses above, you have 12 months to obtain employment with a brokerage and apply to RECO for registration as a salesperson.
- Register with RECO
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RECO (for two years) $350.00
- Insurance (annual)
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Purchase insurance coverage $400.00
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Total Fees $750.00
- You will need to sign up with a Real Estate Brokerage Company
- You will sign an Independent Contractor Agreement
Please feel free to contact us for additional information on signing up with a brokerage company as well as understanding the business and tax requirements and benefits of becoming an Independent Contractor. And we will assist with your Real Estate Board Registration.
ARTICLING
Once you have registered with RECO, you must complete articling courses administered by the Ontario Real Estate Association Real Estate College to become a permanent salesperson. You have two years to complete your articling courses.
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Principles of Mortgage Financing $505.00
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Principles of Property Management $505.00
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Real Estate Investment Analysis $505.00
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Total Cost $505.00
MANDATORY CONTINUING EDUCATION
As of August 1st, 2015, registrants who are renewing or reinstating their registration must meet their continuing education requirements using RECO’s online program.
To meet the mandatory continuing education requirements, registrants must complete:
- The Residential Update Course or the Commercial Update Course, plus
- Two elective courses
To learn more about the program and get started, log into MyWeb (https://myweb.reco.on.ca), click the purple “Online Continuing Education” button and make a $44 payment using Visa or MasterCard.
EARNINGS POTENTIAL
Real Estate is a very lucrative career but the earnings potential can vary. We can better explain the potential of real estate and how the business works if we can have a quick chat. Our Broker of Record will be able to discuss sales strategy, business approach and, not only what you can do to be successful in your Real Estate Career, but what Homewwod Real Estate Inc. Brokerage can do for you. You have made the first step in looking at Real Estate as a career. Now, let’s talk about your earnings potential. Just give us call at 1 877 607 7222 and ask for Sardool Bhogal SRES or email @ HomewoodRE@gmail.com