Ontarios Real Estate industry has made some big changes this year by implementing the new Real Estate Salesperson Program in hopes that it will have a positive impact on the legitimacy and professional standards of the industry. The program is based out of Humber, one of Canada’s largest colleges, with courses designed by actual real estate experts, teaching key legal elements, as well as theory, practical knowledge, and more.
What’s great about the program is that it’s offered online, it’s flexible, and you can apply and get started at any time of the year! All applicants are required to pay the non-refundable $75 application fee, and should be aware of all of the admission requirements. To qualify, you must be proficient in reading, writing and comprehending English, be a Canadian Resident, at least 18 years of age, and have a Canadian Secondary School diploma, a GED, or an acceptable equivalent.
The full time, semester based program is completed in three steps, starting with the Pre-Registration phase, in which students are given up to a maximum of 24 months to successfully complete all of the courses, exams and simulation sessions. Overall, the amount of time spent on each, should sum up to roughly 143 hours of courses, 11 hours of exams, and 65 hours of simulation sessions. A total of 219 hours. The Pre-Registration phase will cost about $3,590 not including additional fees such as the application fee, examination retake fees, simulation assessment retake fees, review sessions, etc. All of this information is directly from Humber’s website. You can find all of the Pre-Registration Phase details here.
After successfully completing the Pre-Registration Phase, students are given up to 1 year to complete the 2nd step; Register with RECO, the Real Estate Council of Ontario. You can find the application here on their website. There is a $590 “New Salesperson fee” ($390 + $200 application review fee), and after this step is the Post-Registration Phase, step 3. This is a necessary step in order to be eligible to renew your registration with RECO once your 2 year registration cycle is over. The Post-Registration phase consists of one mandatory course (15h / $300), as well as 2 electives (10h each / $135 each), and once those are complete there is one final wrap up session (15h / $200).
To sum it all up, program fees should cost roughly $4,950. This includes $3,590 for the Pre-Registration phase, $590 for the RECO registration fee, and $770 for the Post-Registration phase. This does not include any additional fees such as the $75 program application fee, examination retakes, simulation session retakes, review sessions, etc. Because the program is self- paced, the amount of time spent on each course will differ with each learner. Therefore the times given are just an estimate, but should total to approximately 269 hours.
Once all of these steps are complete, congratulations! You can officially consider yourself a Real Estate Agent! Hopefully we were able to answer all of the questions you may have. This program embarks an exciting new chapter for Ontario’s Real Estate Industry and we hope you’re looking forward to it just as much as we are!
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