Category Archives: Real Estate Career Mentor

Thoughts on how to become a real estate professional in Ontario.

Should real estate sales agents use the “.realtor” domain name and other trademarks of “organized real estate”?

It’s important to note that:

1. The license to work as an Ontario sales agent or carry on business as an Ontario broker is governed by REBBA (“Real Estate and Business Brokers Act”). It is REBBA that prescribes the rules for getting the license and maintaining the license. RECO (the Real Estate Council of Ontario) is the organization that administers REBBA.

2. Membership in “organized real estate” is voluntary. If you are NOT part of “organized real estate” you may keep your real estate license as long as you are affiliated with a broker who is NOT a member of “organized real estate”.

Some real estate professionals may wish to temporarily cease employment as a real estate sales person but keep their real estate license active. This can be done by “parking”, “keeping” or “shelving their license” with a broker who is NOT affiliated with “organized real estate”. (The requirement to meet the REBBA requirements continues.)

What if you cease to be a member of “organized real estate”? All you need do is “stop paying the fees”.

There is “good news” and there is “bad news”.

First, the “good news”: You will avoid all the fees required to be member of “organized real estate”.

Second, the “bad news”: You must cease using all the trademarks owned by “organized real estate”!

The trademarks owned by CREA “Canadian Real Estate Association” and “organized real estate” include:

– the word “realtor”. The word “realtor” is a trademark owned by “organized real estate”. Nobody can use the word “realtor” unless they are a member of “organized real estate”.

Examples of prohibited uses of the word “realtor” include:

– the word “MLS”. “MLS” is a “trademark” owned by “organized real estate”.

Conclusion

Those real estate sales and agents and brokers who wish to take a vacation or sabbatical from their real estate careers by “parking”, “shelving” or “keeping” their license with a broker who is NOT part of “organized real estate” should NOT use the CREA trademarks. In particular, they should NOT use the “.realtor” domain name as their email address! It would be unwise to be in a situation where the continued use of an email address would infringe the trademarks of “organized real estate”!

What is “organized real estate” and why you would consider becoming a voluntary member

In a previous post I discussed “The acronyms” of “organized real estate“. The purpose of that post was twofold:

1. to explain what is meant by the phrase “organized real estate”; and

2. to emphasize that one can be licensed as either a “sales person” or “broker” under the Ontario Real Estate and Business Brokers Act” (“REBBA”) and NOT be a member of “organized real estate”.

Who you are (a licensed broker under “REBBA”) is different from the organizations to which you may belong (“CREA”, “OREA”, “TREB”, etc.). As you consider how to best build your real estate career, you will certainly consider which of the many associations of “organized real estate” to which you wish to belong.
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New Ontario Real Estate Licensing fees from @RECOHelps – Effective January 1, 2017

The cost of becoming an Ontario real estate agent or broker and the cost of remaining an Ontario real estate agent or broker

The real estate industry in Ontario (and every where else) is a “licensed profession”. There are costs to becoming a licensed real estate agent. There are costs to maintaining your real estate license. That said, the costs are far less than the costs associated with other professions.

The licensing costs are subject to change. Effective January 1, 2017 the “Real Estate Council of Ontario” (“RECO”) has increased the “licensing fees”.

RECO’s announcement is here and a chart of the new fees is here.

Notice-of-Fee-Changes-and-New-Fees3

Taking a break from Real Estate? Don’t let your license lapse! Keep your license active!

You worked hard to earn your license. If you take a break from your real estate career you should keep your license active.

Here is how to both:

  1. Take a break from real estate; and
  2. Keep your Ontario Real Estate License active.

 

 

“Real Estate As A Career” – Workshop led by Real Estate Career Coach @ChillaRiddle

What: Real Estate As A Career Workshop

When: Saturday September 16, 2017 – 2:00 p.m. – 4:00 p.m.

Where: University of Toronto Downtown

Investment: $50 for those those who participate in the “Real Estate Math Workshop” and $100 for others

Who: Real Estate Career Coach Chilla Riddle

Everything you should know about a “Career In Real Estate”, but didn’t know to ask!


Course description:

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Becoming a Real Estate Professional in Ontario: New rules and a new school are coming @RECOHelps

 

A bit of advice: If you want to become either a real estate sales agent or a real estate broker in Ontario you should earn these licenses NOW!! The rules are changing and I don’t think it is going to get easier.

I received the following email from RECO on December 15, 2014

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Should #TorontoRealEstate sellers use: No broker, a discount broker or a full service broker

The Toronto Real Estate market continues to be strong. It’ relatively easy to sell a relatively well priced house in the Toronto market. That said, how should sellers go about the process of selling? Do the service of a “full service” broker add value in such a market?

Toronto Real Estate agents who want to build their careers in real estate need to consider how real estate commissions are perceived from the perspective of the client.

On May 9,  2014, The Toronto Star ran articles with differing perspectives.

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Welcome to your career in real estate!

 

Welcome to your career in real estate!

You have just taken your first step towards a rewarding career in real estate. The real estate industry and profession in Ontario (and other jurisdictions) is heavily regulated.  You can achieve  your license to sell real estate in as little as four months.

The mission of Real Estate Prep is to help you:

– make the decision to enter the real estate industry

– offer you independent tutoring for the OREA real estate exams

– provide you with training as a newly licensed real estate agent

We also offer Real Estate University which is a series of short courses for the general public to help them buy and sell their homes.

We offer you independent real estate preparation courses and study aids, for the exams required to become licensed to be a real estate agent in Ontario. These courses include: OREA real estate mathOREA exam tutoring, the OREA admissions test, and Ontario Real Estate Career Coaching.

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