With the recent post-recession boom in housing prices you might be thinking of joining the rants of the Newmarket Real Estate Agents who are making a killing off of this rise in prices. However, there's more involved in becoming a real estate agent than simply making up signs with your name on it. There are training courses to take and certification tests to write and registry with the Ontario Real Estate Association to do first. In fact, your first stop, if you're considering real estate as a career, should be the OREA website at www.orea.ca to find out more about what you need to do.
What is the OREA?
The Ontario Real Estate Association is like a union for realtors. It is a representative organization for the 45,000 people who sell property across the province, from luxury condos in Toronto to small quiet lakeside cabins in Lake Scugog. It administers all of the real estate licensing done in Ontario and also provides access to resources and continued training for already licensed members. The organization also exists to improve the reputation of realtors among the public and to help protect customers from scammers.
What is involved in becoming a Realtor?
The OREA runs the Ontario Real Estate College, a private career college that trains individuals in the necessary topics to pass the provincial real estate licensing exam. In order to be accepted to the college you have to have completed high school or a GED either in Canada or in a comparable international system. Additionally applicants should show some aptitude in math, research, planning, and communication, as these skills will be required to sell an Edmonton condo for sale. Proficiency in English is a must.
Training begins with an introduction to the real estate profession and moves on land use and municipal regulations concerning real estate exchanges, and then to a choice of specialties in real estate transaction making: either residential or commercial. After this comes an articling phase in which your mentors will teach you the practicalities such as the use of Markham MLS and let you "ride along" on sales. Classroom work is done in modules and is available as e-learning.
How can being involved with OREA help?
The OREA provides access to resources to members only. This might include access to discounted training to update your knowledge, access to pre-made forms concerning the more common legal and administrative aspects of real estate transactions, membership in housing listings databases, and simple mentoring help like resume writing services. Without your license from the OREA, you will find it difficult to get customers to trust you with their money, and you will find yourself alone if you ever get into legal hot water over it.