How to Be a REALTOR® in 3 Steps
We’re counting down our top blogs of the year! The hot market, space to reimagine career goals and added appreciation for loving where we we call home likely all contributed to rocketing this blog to the #1 most read of 2020. Updated with new information, here’s a step-by-step guide on how you can be a Realtor®.
What does it take to become a real estate sales partner?
- Financial investment: Approximately $5,600 including all course fees, registration, insurance.
- Practising costs: most REALTORS® will need to bankroll all of their own marketing and administrative costs, as well as brokerage and franchise fees, so having a cushion of $2-4K set aside for this purpose is recommended.
- Practising costs include:
- Brokerage fees
- Franchise fees
- Contact management system
- Closing Gifts
- Advertising/marketing & supplies
- Cell phone
- Time: the licensing process varies greatly, depending on your availability.
(Approximate time investment required outlined below.)
- Canadian resident
- Minimum age: 18
- Have an Ontario Secondary School Diploma or Equivalent
Step 1 – Pre-registration: approximately 208 hours & $4,175
The Pre-Registration Phase is your first step towards becoming a real estate salesperson in Ontario. You must complete this first phase of the Real Estate Salesperson Program before applying for registration with RECO. This phase comprises of 5 courses, 4 exams and 2 simulation sessions which must be completed sequentially as shown below. You will have a maximum of 24 months to complete pre-registration.
Click here to apply to Humber College’s Real Estate Sales Person Program – $75 application fee.
Step 2 – Register with RECO
- Cost: $590 + $475 Errors & Omissions (E & O) Insurance
- Timeline: must be completed within 12 months of completing step 1
- Obtain Salesperson Registration with RECO:
Step 3 – Post-registration – approximately 55 hours & $770
Interested in transforming the real estate industry with Faris Team?
Faris Team Real Estate Brokerage is the #1 real estate team in Simcoe County and is currently seeking highly motivated sales professionals to join our rapidly expanding team. If you’re a team player who is passionate about real estate, has a sales background, a tireless work ethic, lives to serve others and works well under pressure, we’re looking for you!
- A real estate license is not necessary to apply, but you are required to be in the process of obtaining it.
- Training and mentorship provided
- Potential for earning $150,000 within your first full year
- Sales skills and a love for the real estate industry is a must.
Visit our Careers Page and apply now!