How Do You Get your Real Estate License in Ontario – 2020 Process
There have been some recent changes made in the education program to becoming a licensed realtor in Ontario. When I first got my license about 15 years ago the process was MUCH different. I completed 3 classes, wrote 3 exams and was sent off into the world of Real Estate.
Over time, 3 classes transformed to 5 and then 6. This year the entire program was restructured and Humber college has now taken over and there are 6 classes that must be completed to pass. Two of these classes require mandatory in-class simulations which will be discussed below.
Download a pdf version of the study kits at www.humberrealestate.net
Why the Change?
It is key to note that the evolution of this education process has been pivotal in producing Realtors with better knowledge and understanding of Real Estate transactions and markets. RECO (Real Estate Council of Ontario) has an obligation to keep the education up to date, relevant and most importantly to ensure newly licensed realtors are informed and ready to enter the Real Estate world.
What Makes Humber’s Program Amazing?
Humber taking over the Real Estate Education program has so many benefits. The program offers students 24 months instead of 18 to complete the program. This gives student the opportunity to slow down and study within their schedule. Students are also able to register for their next course right away rather than waiting for the next class to open up. However, there are 2 standout amazing things about the new Humber program!
Virtual Online Support:
Each class offers online virtual support if students have questions or concerns. The greatest part of this is that for a small fee, additional virtual supports can be added!
Online in-class Simulation:
In the old OREA program, everything could be completed independently online. Now there are 2 courses with mandatory in-class simulations! These simulations take what you have been learning and tested on and apply it to real-life scenarios. In-class simulation can be completed over a 5-day period or in 2 weekends. While there are currently limited locations, having these classes available in small community colleges throughout Ontario is something that is in the works!
What Does the Course Breakdown Look like?
1. Real Estate Essentials Key Concepts: -fundamentals of real-estate -role of a salesperson -overview of transactions -OREA -code of ethics
2. Residential Transaction Key Concepts: -diving into agency -property types -preapprovals -structural components -steps to listing a home -working with clients -closings
3. Residential Transaction 2 ** in-class simulation portion Key Concepts: -build on concepts and apply to transactions -condos -new constructions -leases -rural properties
4. Commercial ** in-class simulation portion -offices -retail buildings -industrial -agreement of purchases of sale -leasing commercial land
5. Getting Started -maintaining registration -insurance -selecting a brokerage, etc.,
Becoming a realtor is such an exciting process! Although the tests and materials may be stressful at times, it is all worth is the first time you help someone find their dream home! If you have any questions about this process or any of your course materials please reach out and I would be happy to offer my advice!