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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. Continue reading →
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.
Those who are seeking to become or maintain their license as a salesperson or broker should read the statute and the rules. In addition, you must understand the REBBA code of ethics (they are the source of many OREA exam questions).
Your Ontario real estate is valuable. You worked hard to get it. You have worked hard to provide value to your real estate clients. It has been the key to your real estate career. It takes money and time (in the form of continuing education) to maintain it. In order to maintain your registration with RECO you must: