Going into real estate has always been a good career option for some people. The flexible hours and boundless earning opportunities are especially attractive, especially if you have a knack for selling. Add to this the hot Toronto real estate and you really have a lot of good reasons to work in Ontario’s housing industry.
However, unlike other sales positions in other industries, you can’t just start selling houses the moment you decided you want to become a real estate agent. Not a lot of people know this, but you have to qualify and get a license. The process is very specific, so a good deal of research would do you a lot of good too.
But before you head out and learn the steps in becoming a real estate agent in Ontario, you might want to know what to expect first before exerting some serious effort in the process. To help you, here are a few key points that can help you decide whether this field is right for you.
Do not expect that the process will be quick or easy.
The very first thing that you need to know if you want to work as a realtor is that the licensing process can be a challenge. You can’t expect to start selling houses in two months because that there are three parts in obtaining a license. It can take you a couple of years if you’re not going to fast track the procedure or try to be efficient in any way.
In the simplest of terms, here are the things you need to do to get a license:
- Sign up for classes with the Ontario Real Estate Association or OREA. There are five lessons that you can take to qualify for the second phase of the process. You need to pass all of the exams provided with the courses so you can be eligible to move to the next one.
- Work as a real estate salesperson for a registered brokerage.
- Apply to become a registered real estate salesperson to the Real Estate Council of Ontario or RECO.
- Enroll in at least one elective course for the Articling Segment.
- Apply to renew your real estate registration with RECO to fully become a real estate salesperson.
Some folks can complete all of these in a couple of months to a few years. It all depends on how you can fit all of the courses into your current schedule.
Be ready to invest.
Expect for your real estate to charge you fees – it’s a part of the process. This is why you should be ready to invest as these can cost a couple of thousand of dollars. At minimum, you’ll have to spend about $3,355 for all of the course and exam fees. You’ll also need to pay for a licensing fee of $350 on top of that.
You also have to be ready to pay for promoting yourself as a real estate agent. Not every brokerage company will be willing to pay for all of the marketing techniques you might have in mind to tell everyone around the city that you can help them buy or sell their homes. This can be another costly measure, so prepare for this as well.
A mentor can really help you out.
Having someone experienced to help you learn the ropes and point you in the right direction can be very useful in becoming a real estate agent. They can give you valuable tips that will come in handy in your transactions and sales.
Prepare to become a public personality.
You’ll need to promote yourself if you want to be a successful real estate agent, so you also have to be ready to get your name and face out there. You’ll need to take professional photos, have some business cards made, and get some advertisements made. You’ll also need to announce your new status and line of work to friends, relatives, and acquaintances. With these, you can already establish yourself as a real estate agent.
Aside from Toronto, there are several other areas in Ontario that’s starting to warm up. Pursuing a real estate career in other cities can be a good idea, too, so make sure to look into them as well.