We would be discussing How to Become a Real Estate Agent in Canada. A real estate agent has the obligation to meet with buyers, listen to their choices and preferences, and then help them find the ideal property for their specifications. Though this is a rigorous process, it can be made a fulfilling and enjoyable experience with an organized work schedule and proper client management skills.
Below, we will be discussing steps to take in order to get into the real estate business in Canada.
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Table of Contents
- 1 How to get into the real estate business in Canada
- 1.1 Start your Real Estate Certification
- 1.2 Join a Brokerage Agency
- 1.3 Apply for Licensing and sit for the Licensing exam
- 1.4 Get errors and omissions insurance
- 1.5 Completion of an articling/professional practice
- 1.6 Get your first client
- 1.7 Make use of the tools provided by your real estate association
- 1.8 Advertise your services
- 1.9 Become recognized and loved in your community
- 2 Frequently Asked Questions (FAQs) about becoming a Real Estate Agent in Canada
- 3 Conclusion
How to get into the real estate business in Canada
There are 6 steps involved in becoming a real estate agent with the legal authority to buy and sell property in Canada. However, you must meet these 3 prerequisites before you can start a real estate business. Firstly, you must have attained the age of 18. You must have graduated grade 12 and you must be a citizen of Canada. These steps will now be discussed in detail below.
Start your Real Estate Certification
Completing the basic real estate licensing course in your province is the first step needed. You should note that every province has its own certification courses through association boards or sanctioned real estate councils. Therefore, this entails that different manner is administered by each province in handling educational certification. However, the basic real estate licensing requirement seems to be fairly consistent even though requirements vary between provinces.
Join a Brokerage Agency
After the completion of your real estate licensing course, you will need to find an agency to sponsor your license application. In order to achieve this, you must meet with different brokers to find the perfect match. Make sure questions are asked about their workstyle and brokerage fee structure before you join. This is because you will like to ensure that you flow well with the staffs since you might work in the agency for your first couple of years. Address and resolve any issue that you are unsure about to avoid dealing with them in the future.
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Apply for Licensing and sit for the Licensing exam
Indeed, it is right to submit your application for a real estate license with your newfound agency to sponsor your application. In order to receive your real estate license, most provinces require a written licensing exam even though this varies across provinces. You will be required to pay your licensing fee if your application is approved. Though, you could also be required to pay applicable dues as you become a member of a professional organization in some provinces.
Get errors and omissions insurance
Ensure to use your province’s real estate association to get errors and omissions insurance in order to become a fully licensed real estate agent. In the event of any damage or mishaps, this will cover you against any mistakes while on the job.
Completion of an articling/professional practice
Note that many provinces expect certain articling educational requirements to be completed upon approval of your real estate license. This is because it is a period of supervised training where the new real estate agent is mentored by a senior professional.
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Get your first client
It is time to hit the market and get your first real estate client once you are done completing your articling period. We would be discussing some helpful tips that would help you achieve this easily.
Make use of the tools provided by your real estate association
In order to post properties online, you will need access to your local multiple listing service (MLS) portals. In addition, you can provide easy access to your listed properties by renting several lockboxes from your realty association.
Advertise your services
You will be required to invest in some basic advertising no matter how tight your budget may seem. At a minimum, this should include business cards, a functional website, and property signage. Furthermore, you could invest in online ads and even search engine optimization if you have a larger budget.
Become recognized and loved in your community
Relationship marketing is the best kind of marketing. This is because people are more inclined to trust you to provide an efficient service when they know you more. Therefore, there is still the need to invest time in becoming recognized in your community even when you have active marketing strategies. In order to become recognized, you can host a community BBQ or sponsor a sporting event. As a result of this, your brand will be the first to come to mind when people want to move or buy.
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Frequently Asked Questions (FAQs) about becoming a Real Estate Agent in Canada
How long does it take to become a real estate agent in Canada?
9 to 12 months of training is required to become a real estate agent in Canada. Note that you will be required to register first with your provincial real estate board as real estate agents are a regulated profession in Canada. You can start taking courses known as pre-licensing training once your provincial real estate board has approved you. These courses can be taken online or in person and most of them allow you to complete the course schedule on your own time. This means, therefore, that the amount of effort you put in determines how fast you can become a real estate agent. Apply for the licensing exam after completion of the pre-licensing exam. The licensing exam is a 9 to 12-month process though this depends on your province. Within your province, you can search for employment at any real estate brokerage if you pass the licensing exams.
What education is needed to become a real estate agent in Canada?
There is no requirement for any college degree in order to become a real estate agent in Canada. As long as you have your grade 12 diploma, you can begin your career as a real estate agent. Your academic training should be furthered by completing the pre-licensing training. Once you have passed the pre-licensing exam, you are entitled to apply for the real estate licensing exam. Indeed, you can now seek employment at any real estate brokerage in your province once you pass the licensing exam.
How much does it cost to get a real estate license in Canada?
Though the price varies, getting a real estate agent license in Canada will cost between $3000 to $7500. The province you live in and the educational institute you attend for training also determine the cost of acquiring your real estate license in Canada. In addition, you will be expected to pay for the pre-licensing training and the licensing program. Furthermore, you will be required to pay to attain membership in your provincial real estate association. Members of the local real estate board also have a yearly premium that is paid to them. If you need a better understanding of how much it will cost to get a real estate license in your province. Then, you can contact your provincial real estate board.
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Conclusion
We have discussed as well as learned the necessary steps and actions to take in order to become a real estate agent in Canada. However, you can carry out your individual research if you need extensive information on how to become a real estate agent in Canada