A real estate agent is a fun and lucrative job with many opportunities for career advancement. To become an agent, one must be at least eighteen years of age and have a Canadian high school diploma or equivalent, and speak English. Each province in Canada is responsible for licensing real estate agents in that province. However, there is a three-step process common to most, with a unique Board exam for each province. British Columbia will not issue a license to anyone with summary convictions until two years after reinstatement is made. Quebec will not issue a license to someone who has committed a criminal offense in the previous five years. Check with your province of residence for specific local requirements. They can be found in most cases under the provincial Real Estate Commission or Council.
The first step is to complete the requirements for the Initial License. This must be completed within eighteen months. The program is available by correspondence or online. The first phase covers the benefits and limitations of a career in real estate, a summary of the requirements to register as a representative, an overview of the necessary math skills, and an indication of specializations and career options. Phase two introduces the technical aspects of the profession and covers the statutory laws, rules and regulations governing real estate transactions. Phase three offers a choice of two aspects of real estate; Residential and Industrial Commercial Investment (ICI).
The residential course is completed during eighty class hours. The practical aspects are presented through workshops covering the topics of listing acquisition, marketing, buyer qualification, preparation and submission of offers. The ICI course requires eighty hours of class time. A wide variety of workshops cover topics including office practices, retail, industrial, multi-unit, and vacant land.
The next step in becoming licensed is to complete a two-year trading period with a licensed broker. During these two years, one must complete three additional courses. Real Estate Law is a required course, with optional courses including Principles of Appraisal, Principles of Mortgage Finance, Principles of Property Management, or Investment Analysis. There is also a required Phase 3 course. One can renew a license after completing the articulation stage and completing these courses.
To maintain a license, one must complete twenty-four hours of Compulsory Continuing Education (MCE) every two years. Other career advancement opportunities are available at Continuing Education Units (CEUs). CEU courses offered include: Agency Courses, Practical Agency Focus, For-Profit Agency, Agency for Practice, Dealing with Buyer’s Agency in Purchase and Sale Agreement, Real Estate Profession Disclosure, The Broker’s Toolkit: Standards and Compliance, Conflict Resolution Skills, Valuing Diversity; Increase profits with multicultural clients, home tech, and for-profit tech.
If one wishes to be designated in a specialty, the Real Estate Institute of Canada offers several professional certification programs. These include certifications for property management, condominium management, appraisal specialist, and land planning and development.
Real estate is a wide and varied profession with many opportunities for specialization and advancement.