Step By Step: How to Get a Real Estate License in Ontario
Real estate sales is hard work. But for those who are willing to put in the effort to succeed, real estate sales combines a flexible schedule, the opportunity to be your own boss, and the realistic potential to earn six figures per year and more.
That said, the career isn’t for everyone. Many people struggle – especially in their first years. But if you’re focused, disciplined, and motivated, real estate sales is one of the most exciting and potentially rewarding careers out there.
If you have what it takes, we look forward to seeing you in the field! Here's a step-by-step guide to obtaining a real estate license in Ontario, Canada.
1) Meet the prerequisitesTo enroll in pre-license real estate sales training in Ontario, you must either have a diploma from a Canadian secondary school or a GED, or pass the Salesperson Program Admission Exam at Humber College.
2) Take the required courseworkBefore getting licensed, you must complete the approved “Pre-Registration Learning Path” at Humber College, which you can do online.
The program consists of five courses:
- Real Estate Essentials. The first course in the program covers the role of the agent and the basics of the Real Estate and Business Brokers Act, or REBBA for short, as well as other applicable laws and regulations.
- Real Estate Transactions. This course focuses on the basics of residential real estate transactions, contract preparation, and basic marketing strategies.
- Additional Real Estate Transactions. This course expands the residential real estate content to include condominiums, new construction, rural properties, apartments, and residential leasing.
- Commercial Real Estate Transactions. This course prepares future agents to work with clients in buying, listing, and selling commercial properties and businesses.
- Getting Started. The final course in the Pre-Registration program is designed to help new agents apply what they've learned and build a foundation for success in their new careers. The course also helps guide future agents on how to select a brokerage to work for.
You must also complete two simulation sessions: Residential Real Estate Transactions (35.5 hours) and Commercial Real Estate Transactions (28 hours).
Individuals vary, but most people take between nine months and one year to complete all the coursework. The fee for the Pre-Registration Phase of the program is $3,590.00, and the total cost for the Post-Registration Phase is $570.00.
3) Complete a Canadian Criminal Record and Judicial Matters Check (CCRJMC)You should begin this process at least three or four months before you are ready to register. More information here.
4) Connect with a great BrokerageBrokerages vary widely. But choosing a brokerage is possibly the most crucial decision of your real estate career. For new realtors, especially, the support your broker provides can make or break your real estate career.
The best broker to start your career with is one that:
- Has an organized training program for new salespersons
- Invests in marketing and practice management technology to support agents and clients
- Offers strong mentorship from experienced and dedicated managers and trainers (who aren’t selling in competition with you)
- What is the company's majorly focused direction?
- Does the company have a published service commitment?
- What are the company's major goals, and how do you plan to achieve them?
- What market share does your company hold?
- What do you use to measure your success?
- What do you see yourself as? A buying or listing company?
5) Register with RECOIn Ontario, all real estate agents must register with the Real Estate Council of Ontario. To do so, complete and submit an application. You’ll have to pay a RECO registration fee of $590, payable via MyWeb.
Warning: Once you complete your Pre-Registration Learning Path coursework at Humber College, you only have 12 months after your final examination to connect with a broker and complete the RECO registration process.
If you miss this timeline, you’ll have to repeat the entire program.
6) Purchase insuranceAll Ontario real estate salespersons must participate in the RECO insurance program.
As of 2022, the estimated annual cost of insurance is $500. Pay via MyWeb. More information here.
7) Complete “Post-Registration Phase” trainingOnce you are licensed and operating under a brokerage, you enter your two-year “articling period.” During your articling period, you must complete the Post-Registration Phase of your real estate training. This training consists of three courses: the mandatory compliance course and two other elective courses.
If you don't complete the three courses within two years, your registration will lapse.
So if you have an interest in real estate as a career and a positive attitude, commitment, and drive to put in a full-time effort, Web Max Realty is looking for you!
Click here to find out more about working with Web Max Realty.