In this current market
of real estate, it is as if all the buzz is in the sales of residential real
estate. The housing market in BC is booming and prices are on the rise. Every year, more and more realtors
complete the licensing course and successfully pursue a career in real estate
and earn the right to call themselves ‘REALTOR®’. Real estate careers can be
rewarding, but they come with a lot of challenges. To become a licensed real
estate professional, one must fulfill several requirements.
Real Estate Agent
sounds like a good career, but it comes with a lot of hard work and challenges.
If you are a hard worker, problem solver, and good learner then this industry is
for you, and you will get rewarding results.
You will not be bored
because unlike other typical fields you will learn every day. Depending on your
personality, desires, needs, and challenges, you'll meet different people.
It's an ideal career
for people who prefer flexible work schedules. You can make all your schedule
by yourself according to your availability. I believe if you have a small kid,
this job gives you the flexibility to spend time with them and to work
according to your availability.
Some of the Basic
Requirements.
As a real estate
professional, the onus and burden fall on the licensee to ensure they uphold
professionalism and keep their clients’ interests always first at heart. For an
application to be successfully approved by BCFSA (formerly known as RECBC), the
applicant first must meet some basic requirements.
They are:
- Have a good reputation.
- Meet the eligibility age of 19.
- Meet and fulfill the educational requirements for the
required licensing level, as well as the English Language Proficiency exam
(CELPIP-General).
- No license refusal, conviction, discipline, or other conduct by
a professional body that demonstrates unfitness as a real estate
professional/licensee.
For applicants to be
eligible to work in Canada they must also meet one of the following employment
criteria:
- Citizenship in Canada
- Permit for Permanent Residence
- Having a valid work permit/visa
- Are a landed immigrant
Some of the Mandatory
Requirements…
After these
requirements, there is one more obstacle to Canadian English Language
Proficiency (CELPIP- General). The person needs to get a minimum of level 7 in
all sections i.e., Reading, Writing, Speaking and Listening, OR person needs to
get credentials for a bachelor’s degree or higher at a recognized institute or
university, where English is the primary language, and the university is
outside Canada.
Step 1: Now if you have passed your CELPIP exam
you are already halfway. Now next step is to register for Real Estate Licensing
Course. University of British Columbia’s Sauder School of Business is the most
common place where people take admission.
There are different
options like Property Manager, Real Estate Trading Services, Mortgage Broker,
or Strata. Real Estate Trading Services is the one that needs to be chosen for
Real Estate Agent. After registering UBC will send you two books
1. Real Estate
Trading Services Licensing Course Manual and
2. Real Estate Trading Services
Licensing Course Examination Practice Questions. You have to self-study the
books to prepare for the exam. UBC gives two years to complete the course. All
the Assignments need to be submitted during the first year.
Some students complete
their course within 4-6 months. So, It depends on you. 70% marks are required
to successfully pass the Examination.
Step 2: Apply for the
applied courses after passing your exam. Choose a residential or commercial
applied course in whatever field you are interested in. This is important
because that is the specialization field where you will be pursuing your
career.
Step 3: Now after
completing at least two components of the applied course you can start looking
for Real Estate Brokerage that suites for you. Where your values resonate with
each other. When you find your broker then you can apply for a
license.
Step 4: Cheers! After
this much hard work now you have a license in your hands. You are eligible to
work real estate agent. Make sure to complete your applied course within the
first year of your registration.
Step 5: Make sure to
renew your license after every two years.
Now that we’ve got the
basic introductions out of the way, we can move on to the real deal. As a first
step, you will now need to register for the required licensing course. The most
common institute students take the course is through the University of British
Columbia’s Sauder School of Business. This course is offered to anyone that has
met the basic requirements.
When registering, you
will choose “Real Estate Trading Services Licensing Course”. The course is
meant to be completed at your own pace, meeting the requirements of busy adult
learners. UBC gives you up to two years to finish the course and you will have
to complete the assignments within the first year. There are twenty
assignments, none too long. Upon successful completion of the licensing course,
with a passing mark of 70% or higher, you will now need to register yourself
for the applied course.
With the applied
course, you will decide whether you will focus on residential real estate or
commercial real estate. You should choose carefully because your focus in the
beginning (or in general) will be what you learn in the applied course.
Overhead Cost
To jumpstart your
career in real estate will take a hefty toll on your bank account. Aside from
the licensing course which will cost you $1150, you will need to diligently
save for the future expenses that you will incur after successful completion of
the course.
Namely, they
are…
- BCFSA Licensing & Assessment Fees ($2000)
- CELPIP-General ($300~)
- Criminal Record Check ($90~)
- Real Estate Board Fees ($1000~)
- Advertising Costs (Free - $$$)
- Smartphone, computer, printer, website, internet
access, car lease, car insurance, business clothing, etc.
Brief Summary
To briefly overlook
all the steps, let us briefly recap. After you have met the basic requirements
you’ll need to work in steps before you can successfully become a
REALTOR.
Step 1: Register & Complete the Licensing Course
& Exam
The Real Estate Trading
Services Licensing Course is offered by the UBC Sauder School of Business, Real
Estate Division.
Step 2: Begin talking to real estate brokerages that
are a good fit for you to join when you have your license in hand. Make sure
this brokerage is a member of your local real estate board.
Step 3: Register for BCFSA’s “Applied Practice Course”
for either residential or commercial trading services. Once you begin the
course, submit your licensing application to BCFSA. Make sure all the relevant
information is correctly understood as part of your application. (Including an
original criminal record check and brokerage certification).
Step 4: Congratulations! If your application is
approved, you are now a real estate agent. But… not quite a realtor yet. Once
you have received your license, you must complete all remaining components of
the applied course within six months.
Step 5: To officially become a Realtor, your next step
is to join your local real estate board. Joining a board also makes you a
member of the BC Real Estate Association (BCREA) & Canadian Real Estate
Association (CREA).
Step 6: Maintain your real estate license and Realtor
designation by completing BCFSA’s mandatory licensing courses, like Legal
Update, and 18 hours of professional development through BCREA and/or your
member board every subsequent two years after first-time licensing.
If you’re looking to
become a Licensed Realtor in BC but don’t know where to begin, I’d be more than
happy to give you advice about what you need to become a successful licensed
realtor agent in BC. I can also give you advice on "The Most CommonMistakes People Make When Selling Without an Agent"
If you’re looking for
a dedicated agent to handle the sale of your home or help you purchase your next
one, look no further. My former clients can attest to how hard I’ll work on
your behalf. Contact me today to find out how much your home is worth, and I’ll
send you a free copy of my book that shows home sellers how to get top dollar
for their homes in the shortest amount of time!
By FSBC.ca
With contributions of Pushpinder Kaur Chana and Hammad Gondal (Rental Property Managers)
