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
- Closing Gifts
- Advertising/marketing & supplies
- Cell phone
- Time: the licensing process varies greatly, depending on your availability.
(Approximate time investment required outlined below)
- 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:
Step 3 – Post-registration – approx 50 hours & $770