Interested in becoming a Real Estate Salesperson?
It’s necessary, as with any field you choose, that you make an informed decision so that half way through the process there are no surprises that could potentially set you back. Find out all you can prior to starting out about the costs associated with the necessary courses, licensing fees, real estate board dues, and insurance etc. so that you can plan your budget accordingly.
The Ontario Real Estate Association (OREA) and Orea College (www.oreacollege.com ) develops and administers the educational courses that are required to become a registered real estate salesperson on behalf of the Real Estate Council of Ontario (RECO). Courses are offered as e-learning, classroom or correspondence. This website will also give you the costs associated with each course, the dates available and the location at which the courses will be held
To become registered as a salesperson in Ontario, you must successfully complete the three courses in the pre-registration segment of the Program within 18 months from the start date of course 1.
Course 1 – Real Estate as a Professional Career
Course 2 – Land, Structure and Real Estate Trading
Course 3 – The Residential Real Estate Transaction or The Commercial Real Estate Transaction
• Course 3 General – The Real Estate Transaction
• Course 3 Advanced – The Residential Real Estate Transaction or Course 3 Advanced – The Commercial Real Estate Transaction
You must complete the general component and either the advanced residential or advanced commercial course prior to being eligible for salesperson registration.
Within two years following registration as a salesperson with RECO you must complete The Articling segment. You are required to complete the following mandatory courses:
• Real Property Law
• Remaining Course 3 Advanced
Plus one of the following electives:
• Principles of Appraisal
• Principles of Mortgage Financing
• Real Estate Investment Analysis
• Principles of Property Management
Licensed, what’s next?
To have a successful career in real estate you have to know that it doesn’t just happen or come easily. Real estate sales can often be very demanding therefore a personal commitment to excellence is essential through-out your career. You should be prepared to invest time and money in what will become a life-long learning exercise.
Completing the required courses and obtaining your license is just the beginning of a journey that requires continuous education to maintain current up to date knowledge of the market as well as your professional credentials. The real estate market is dynamic and experiences many ups and downs, laws are constantly changing and new technologies continuously emerge that you may require for your business practices. Knowledge is power in the real estate marketplace!
It’s good to know that personal sacrifice is also a reality. During negotiations most buyers and sellers have little regard for the time of day. Many Real Estate Salepeople point to long hours, high stress levels, and reduced social life. Routine is not something you can necessarily count on with a career in real estate!
Successful Real Estate Salespeople however, are the first to say it’s a matter of perspective and balance. Trade-offs must be made, but the personal freedom, a self-directed satisfying career, income potential that depends on your own talent and effort, and the long-term benefits are well worth the effort!
Want to take a trial run?
Go to Prudential Canada’s corporate head office online at www.prudential.ca the select “Careers in Real Estate”, scroll to the bottom where you will see the “Real Estate Simulator”. Click on the box and take the test!
This will provide you with a detailed report of your over-all suitability to the industry.