People
often get over-excited when they plan to land a real estate salesperson job. It
usually seems quite a simple process to get this job. In contrast, it is the
other way around.
To
help you get to this level, I will share the process as explained by the Real
Estate Council of Ontario (RECO). The process consists of three phases.
Phase
1 - Pre-registration
Course
Completion Phase
The
pre-registration phase is the beginning point for anyone wanting to become a
professional real estate agent in Ontario. This is the phase required to be
completed prior to registering with RECO.
The
process involves the completion of courses, successful examination attempts,
and simulation sessions within a period of 24 months, from the date you access
Course 1.
Note (1) Since September 2019, Humber College is
entitled to deliver the real estate registration education courses on behalf of
RECO.
The image below explains how your 24-months are planned:
Course
or Program Extensions
If
learners are unable to complete the course within the maximum time allowed
(i.e. 24 months), they may submit a course extension request. The extension
request is supported with relevant documentation.
The
authority is fully entitled to approve or disapprove of the extension. In case
your extension is not approved, you may have to repurchase the course.
For
more information regarding extensions and courses, visit HUMBERβs
website.
Phase
2 - Registration with RECO
After
the successful completion of phase one (pre-registration phase), you would be
allowed to register with RECO. The registration time is one year of completing
phase one.
The
basic criteria involved in this phase, include:
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The learnerβs age must be 18 years or above.
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A resident of Canada.
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Fulfilling all the requirements guided by Real Estate and Business
Brokers Act, 2002 (REBBA 2002).
Once
you complete all the basic requirements, you would be required to fill the application
form to register as a salesperson with RECO.
Phase
3 - Post-registration
Once
you are registered with RECO, you would be required to complete additional
courses within the first two years of the registration process.
Here, you would be completing the compulsory compliance course and then any two of the remaining five elective courses.
Average
Salary of a Real Estate Salesperson
Once
you have completed all three phases of becoming a real estate agent in Ontario,
you could start your hunt for related jobs.
According
to Payscale, the average
salary of a real estate agent is around $60,427 per year.
While the maximum amount they earn in a year goes above $169,000.Β
A more precise breakdown based on the number of years spent in the sector is given in the image:
Pro
Tip - Learn from Professional Real Estate Agents
While
the journey of becoming a real estate agent is quite long and stressful, it is
highly recommended to network with professional real estate agents near you.Β
While
you plan to become a real estate professional, you must also learn what the
experts are doing. Learn how they survived the pandemic period, what they say
about the real
estate trends for the year, and so on.