A real estate license in Ontario is not tough to get, but it indefinitely requires lots of hard work, commitment, and investment.
Now that you have decided to become a real estate agent, you will require a real estate license in Ontario to work as a real estate professional in Ontario.
If you think you are a people person, have proper communication and negotiation skills, and want to work independently without any boss and at your own pace, then being a real estate agent can be “the one” career.
Let us look at what you need to do to get your real estate license in Ontario.
What you need to know
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 in Ontario, you must 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 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 in Ontario.
1. 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 applicants 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 HS (higher secondary) school diploma, General Educational Diploma (GED), or equivalent credential.
4. All applicants must pay a $75 non-refundable application fee.
1.1 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 a Canadian secondary school diploma or General Educational Diploma (GED), then you can provide acceptable equivalent credentials.
1.2 List of the acceptable equivalencies
- A school diploma (secondary school) 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 apprenticeship in any trade from Ontario or another 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).
2. Accepted institutions that offer credential assessment services:
- World Education Services (WES)
- International Qualifications Assessment Service
- International Credential Assessment Service
- University of Toronto School of Continuing Studies
- International Credential Assessment Service of Canada (ICAS)
You can start the application process here if you have a diploma or equivalent.
2.1 In case you are applying without a diploma or equivalent
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.
If you pass the exam, you will receive the confirmation certificate, which you must 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:
The Reding section evaluates the applicants’ ability to determine the meanings of words, sentences, and phrases from short and long contexts.
You will be judged on four categories:
- 1 Information and Ideas
For sample reading questions, click here.
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
- Effective use of Language
Standard English Conventions
- Sentence Structure
For sample writing questions, click here.
The arithmetic section evaluates the knowledge of mathematical calculations like estimation and rounding, computation, percentages, etc.
Your skills and knowledge in the following categories will be assessed:
- Fraction Operations
- Decimal Operations
- Whole Number Operations
- 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.
3. How to apply for the Salesperson Program Admission Exam
- For the first step, click here to register and pay for the Salesperson Program Admission Exam.
- Now, click on the proceed button on the disclaimer pop-up window.
- You will be redirected to the ETS portal by clicking the continue button.
- Complete the checkout.
- Book your exam with Accupltionacer Next-Generation. You will receive an official confirmation certificate when you pass the exam.
- 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.
- Pre-Registration Phase
- Register with RECO
- Post-Registration Phase
3.1 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, two simulation sessions, and four 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 time to complete it.
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, the next step is finding a brokerage to get employed.
What to look for in the brokerage
You might know what kind of brokerage you want to work for. People tend to think that Real estate agents should go with a 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.
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. Once you select the brokerages you want to work for and schedule the interviews.
Start your employment with the brokerage.
3.2 Register with RECO to get your real estate license in Ontario
The next step in getting your real estate license in Ontario is registering with RECO. After you are done with the pre-registration stage and 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.
- You have to be a Canadian resident.
- It would be best if you were at least 18 years old.
- You should have completed your pre-registration phase within 18 months of the start date of your first course and associated yourself with a brokerage.
- 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)
- Transcripts of your completed courses of the pre-registration.
- Criminal record 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.
3. 3 – Post-registration phase after getting your real estate license in Ontario
As a real estate agent in Ontario, you must renew your license every two years. So to be eligible to renew your license, you must 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 in Ontario includes the following:
- Compliance Course ( Mandatory ) $300 (15 hours)
- Elective Course 1 $135 (10 hours)
- Elective Course 2 $135 (1o hour)
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)
- If you want to select Real Estate as an Investment Strategy: Commercial Properties (Advanced), you must complete the Real Estate as an Investment Strategy: Commercial Properties (Fundamentals).
4. 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.
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, share a few details in the comment section.
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