Buying a home or acquiring commercial space can be a daunting task for the average person. Contracts, appraisals, insurance and legal issues are often overwhelming for people who are not familiar with the real estate industry. Registered real estate salespeople are trained, insured and accountable and provide consumers with professional service and guidance in real estate transactions. Real estate salespeople, who are also referred to as real estate agents, register with the Real Estate Council of Ontario (RECO), the provincial regulatory agency for real estate professionals in Ontario.
Complete preregistration courses. You must complete four real estate courses administered and delivered by the Ontario Real Estate Association (OREA). The courses are Real Estate as a Professional Career; Land, Structures and Real Estate Trading; The General Real Estate Transaction; and, The Residential or The Commercial Real Estate Transaction. Take the courses online or by correspondence. You must be at least 18 years old and have an Ontario high school diploma, or equivalent, to take these courses. Fees for each course range between CA $330 and CA $470.
Ontario Real Estate Association College 99 Duncan Mill Road Don Mills, ON M3B 1Z2 416-445-9728 orea.com
Apply for initial registration as a salesperson. Once you have completed your preregistration courses, you can apply to the RECO for initial salesperson registration. You must include your personal information, employment history and proof of completion of preregistration courses with your application. You must also include a fee payment of CA $350 along with your application.
Real Estate Council of Ontario 3250 Bloor St. W., East Tower, Suite 600 Toronto, ON M8X 2X9 416-207-4800 reco.on.ca
Complete your articling requirements. Once you receive your initial salesperson registration, you can work as a real estate salesperson but must complete three more courses within 24 months of being granted your registration. These three courses that the OREA offers are The Residential or Commercial Real Estate Transaction, Real Property Law and one elective course from Property Management, Appraisal, Mortgage Financing or Investment Analysis. Course fees range between CA $330 and CA $430.
Apply for renewal of salesperson registration. Once you have completed your articling requirements, you can apply to the RECO for your permanent real estate salesperson license. The fees for renewal of salesperson registration are CA $350.