As of July 2019 how you go about becoming a REALTOR® in Ontario is changing, and we’re going to break it all down for you so there’s no mystery.

What does it take to become a real estate salesperson in Ontario?

• 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
• Signage
• Website
• Staging/photography
• Closing Gifts
• Advertising/marketing & supplies
• Cell phone
• Computer/tablet
• Car
• Time: the licensing process varies greatly, depending on your availability.
  (Approximate time investment required outlined below)

Prerequisites:

• Canadian resident
• Minimum age: 18
• Have an Ontario Secondary School Diploma or Equivalent

Here’s how to become an Ontario REALTOR® in three steps:

Step 1 – Pre-registration – approx* 208 hours & $4,175

Click here to apply to Humber College’s Real Estate Sales Person Program – $75 application fee.

Click here to purchase HUMBER and OREA study guides to aid you in passing the exams.

Step 2 – Register with RECO

• Cost: $590 + $445 Errors & Omissions (E & O) Insurance
• Timeline: must be completed within 12 months of completing step 1
• Obtain Salesperson Registration with RECO:
  • Fulfill prerequisites and complete step 1 (above)
  • Obtain employment with a registered brokerage firm
  • Complete and submit the registration forms including paid fee and criminal record check

Step 3 – Post-registration – approx 50 hours & $770