3 Easy Steps to Get Your Real Estate License Ontario in 2022

3 Easy Steps to Get Your Real Estate License Ontario in 2022 1

Real estate license Ontario is not tough to get, but it indefinitely requires lots of hard work, commitment, and investment. If you think that you are a people person, have decent communication skills, negotiation skills, and want to work independently without any boss and at your own pace, then being a real estate agent can be a “the one” career.

Now that you have decided to become a real estate agent, you will require a real estate license Ontario to work as a real estate professional in Ontario.

Let us look at what you need to do to get your real estate license Ontario.

Anyone seeking to make a career in Real Estate in Ontario will have to get a real estate license in Ontario. To get a real estate license Ontario, you will have to be registered under the Real Estate Council of Ontario (RECO). On behalf of the Ontario Government, the Real Estate Council of Ontario enforces the rules on the real estate professionals by enforcing the Real Estate and Business Brokers Act.

To register under RECO, you must take up the Real Estate Salesperson Program delivered by Humber College. This course will give you basic theoretical knowledge and practical practice, case studies, simulation sessions, and how it will work in real estate once you get your real estate license Ontario.

Admission requirements for Real Estate Salesperson Program

1. The applicant must use their legal name, as required by RECO, for registration as a real estate salesperson at the time of applying to a Real Estate Salesperson Program.

2. The entire curriculum is in English, so the applicant should be well versed in English to complete the program. All the applying candidates are asked to declare they meet the English proficiency requirement to apply to a Real Estate Salesperson Program.

3. The education-wise requirement is a Canadian secondary school diploma, General Educational Diploma (GED), or equivalent credential.

4. All the applicants have to pay a $75 non-refundable application fee.

In case of applying with a diploma or equivalent

It’s mandatory to have a Canadian secondary school diploma or General Educational Diploma (GED) to be eligible for admission to the Real Estate Salesperson Program.

If you do not have the Canadian secondary school diploma or General Educational Diploma (GED), then you can provide any equivalent credentials that are acceptable.

List of the acceptable equivalencies

  • A secondary school diploma from the United States
  • A post-secondary diploma or degree from the United States or Canada
  • A certificate of completion of an Ontario academic upgrading program accepted by an Ontario College of Applied Arts and Technology to allow entry into an Ontario post-secondary program (Basic Traning and Skills Development Level IV, Ontario Basic Skills Level IV ).
  • A certificate of completion of an academic upgrading program from a different Canadian jurisdiction is well accepted by an Ontario College of Applied Arts and Technology for entry into an Ontario post-secondary program.
  • A certificate of qualification or a certificate of apprenticeship in any trade from Ontario or any other Canadian jurisdiction.
  • Any transcript, certificate, or diploma (from any country other than Canada or the U.S.) earlier evaluated at an Ontario Secondary School Diploma level by a universally recognized assessment service, such as World Education Services.
  • A post-secondary diploma or degree (from any country other than Canada or the U.S.) is evaluated as equivalent to a Canadian post-secondary diploma or degree by a universally recognized assessment service, such as World Education Services (WES).

Accepted institutions that offer credential assessment services:

  1. World Education Services (WES)
  2. International Qualifications Assessment Service
  3. International Credential Assessment Service
  4. University of Toronto School of Continuing Studies
  5. International Credential Assessment Service of Canada (ICAS)

If you have a diploma or equivalent, you can start the application process here.

In case applying without a diploma or equivalent

Real Estate license Ontario

By: IQoncept on Shutterstock

If you do not have a diploma or equivalent, you can give a Salesperson Program Admission Exam offered by the Real Estate Education Program Office. All the applicants should complete the exam successfully and apply for the Real Estate Salesperson Program.

You pass the exam, you will receive the confirmation certificate, which you have to upload as proof of your successful completion of the Salesperson Program Admission Exam.

Upon completing the Salesperson Program Admission Exam, it will be considered an equivalent for admission to the Real Estate Salesperson Program. The exam is available online and will be delivered through Accuplacer Next-Generation tests, and these tests will evaluate the examinee’s knowledge and skills in three areas:

  • Reading
  • Writing
  • Arithmetic

Reading

Reding section evaluates the applicants’ capability to determine the meanings of words, sentences and phrases from short and long contexts.

You will be judged on four categories:

  1. 1 Information and Ideas
  2. Synthesis
  3. Rhetoric
  4. Vocabulary

For sample reading questions, click here.

Writing

The writing section evaluates the applicant’s ability to edit and revise multi-paragraph text.

Questions come from two categories, and each contains three subcategories.

Expression of Ideas

  1. Effective use of Language
  2. Development
  3. Organization

Standard English Conventions

  1. Usage
  2. Punctuation
  3. Sentence Structure

For sample, writing questions click here.

Arithmetic

The arithmetic section evaluates the knowledge on mathematical calculations like estimation and rounding, computation, percentage, etc.

Your skills and knowledge in the following categories will be assessed:

  1. Per cent
  2. Fraction Operations
  3. Decimal Operations
  4. Whole Number Operations
  5. Number Comparison and Equivalents

For sample, arithmetic questions click here.

You have to achieve a minimum score of 250 in each area; only then can you get admission to the Real Estate Salesperson Program. You can take the test multiple times, but you will be charged $75 to retake the exam.

The test does not have a time limit, but most candidates complete the test in less than 90 minutes. You have to answer each question, and you can go back to the previous question once answered.

How to apply for the Salesperson Program Admission Exam

  1. For the first step, click here to register and pay for the  Salesperson Program Admission Exam.
  2. Now, click on the proceed button on the disclaimer pop-up window.
  3. You will be redirected to the ETS portal by clicking the continue button.
  4. Complete the checkout.
  5. Book your exam with Accupltionacer Next-Generation. You will receive an official confirmation certificate when you pass the exam.
  6. Now click here and start your Salesperson Program Admission Exam application process.

So now that you are registered for the Real Estate Salesperson Program, this program is divided into three sections.

  1. Pre-Registration Phase
  2. Register with RECO
  3. Post-Registration Phase

Step 1. : Pre-Registration Phase in getting your real estate license Ontario

This is the first step toward becoming a real estate salesperson in Ontario. You have to complete this Real Estate Salesperson Program phase before applying for registration with the Real Estate Council of Ontario (RECO).

Ontario’s pre-registration phase to get a real estate license consists of 5 courses,2 simulation sessions, and 4 exams. You have a timeframe of 2 years to complete the phase. You have to complete the course and give exams online. It is a self-paced course, so you can take your own time to complete it.

Download the Learning Path

Pre-registration phase includes

Course 1 – Real Estate Essentials  $525.00

Exam 1  Invigilated Theory Exam   $100.00

Course 2 – Residential Real Estate Transactions $595.00

Exam 2 Invigilated Theory Exam   $100.00

Course 3 – Additional Residential Real Estate Transactions $315.00

Exam 3 Invigilated Theory Exam   $100.00

Simulation 1 – Residential Real Estate Transactions $750.00

Remediation Day

Course 4 – Commercial Real Estate Transactions $315.00

Exam 4  Invigilated Theory Exam   $100.00

Simulation 2 – Commercial Real Estate Transactions $600.00

Remediation Day

Course 5 – Getting Started $90.00

The total cost of the Pre-registration cost is  $3,590.00

Get employed by a Brokerage

As you have completed the pre-registration now, the next step is to find a brokerage to get employed.

What to look for in the brokerage

You might have an idea about what kind of brokerage you want to work for. People tend to think that Real estate agents should go with the brokerage that provides a good commission split, but there are dozens of factors to look out for when looking out for a brokerage to work under.

Namely, there are three types of brokerages: National franchise brokerage, Boutique brokerage and the latest edition is Virtual brokerage.

Other aspects to watch out for could be if the brokerage is owned independently or franchise, do they provide training and mentoring, credibility, listing or selling, commission plans, do they charge fees such as desk fee, franchise fees, advertising fee, what different support services they have, its reputation, what kind of tech tools they are using, other miscellaneous expenses, etc. It differs from individual to individual, what type of brokerage they want to work for.

Research

You can research appropriately now that you know what kind of brokerage you are looking for. You can research the various brokerages near you, look at their website for all the information, and talk to professionals already. Once you select the brokerages, you want to work for and schedule the interviews.

Start your employment with the brokerage.

Step 2: Register with RECO to get your real estate license Ontario

The next step in getting your real estate license Ontario is to register yourself with RECO. After you are done with the pre-registration stage, and you associate yourself with a brokerage, you will be eligible to register with RECO.

You have 12 months starting from the completion date of the pre-registration phase to register yourself with RECO. If you don’t complete the registration within 12 months, you will retake the entire course.

You will have to pay $590 to apply to become a new salesperson with RECO.

Once you are registered with RECO, you can start real estate trading.

Note
  1. You have to be a Canadian resident.
  2. It would be best if you were at least 18 years old.
  3. You should have completed your pre-registration phase within 18 months for the start date of your first course and associated yourself with a brokerage.
  4. Apply for the registration within 12 months of completing your last pre-registration course ((The Real Estate Transaction-General and either The Residential Real Estate Transaction or The Commercial Real Estate Transaction)
  5. Transcripts of your completed courses of the pre-registration.
  6. Criminal record check
  7. RECO application
Helpful Resources

Criminal background check

RECO application

Once your application is approved and registered with RECO, you will finally have your Real Estate license. You are officially a licensed real estate salesperson and a new addition to the real estate industry.

Step 3 – Post-registration phase after getting your real estate license Ontario

As a real estate agent in Ontario, you must renew your license every 2 years. So to be eligible to renew your license, you have to complete the post-registration phase.

You can choose two of five electives and a compliance course in the post-registration phase. This is the last step in your Real Estate Salesperson Program learning path.

The post-registration phase to get your real estate license Ontario includes:

Compliance Course ( Mandatory ) $300

(15 hours)

Elective Course 1 $135

(10 hours)

Elective Course 2 $135

(1o hours)

The total cost of the post-registration phase is $770

You can select two of the five electives from the below:

  • Working in Real Estate – Ownership Alternatives and Complexities
  • Real Estate as an Investment Strategy: Residential Properties
  • Real Estate as an Investment Strategy: Commercial Properties (Fundamentals)
  • Working in Real Estate – Rural, Recreational, Waterfront Properties
  • Real Estate as an Investment Strategy: Commercial Properties (Advanced)
Reminder
  • If you want to select Real Estate as an Investment Strategy: Commercial Properties (Advanced), you must first complete the Real Estate as an Investment Strategy: Commercial Properties (Fundamentals).

Additional Cost

RECO E & O Insurance fee (yearly) : $400

RECO licensing fee (to be paid every two years) : $350

CREA membership (one-time) : $840

CREA fees (yearly) :$475

TREB registration (one-time) :$460

TREB Membership (yearly) : $860

Now that you are done with the following steps, you can start crushing in real estate.

For detailed information, visit here. If you would like to become a real estate broker, click here and if you would like to take up the role of a licensed real estate agent, click here.

If you have any questions, check out the FAQs here.

Stay tuned to Icy Canada for more informative articles. Do let us know your thoughts on this article. Also, if you have any experience in this field, do share a few details in the comment section.

We would love to hear from you.

 

 

 

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