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A Real Estate Career With Royal LePage Wolle Realty

Educational Requirements

Residential Sales involves the Real Estate Sales Person in assisting a Buyer or Seller with the buying and selling process of resale housing, new home sales, condominium sales, rural and recreational sales, and vacant land sales.

In order to become a Real Estate Sales Person certain educational programs must be completed in order for an individual to legally be able to help others buy and sell real estate in the Province of Ontario.

In order to become a successful Real Estate Sales Person and build a worthwhile career it is essential that the individual entertaining a Career in Real Estate possess the following attributes. The classroom educational process is not enough to ensure your success.

  • The candidate should have a basic knowledge of MATH

  • Be able to understand the RESEARCH process.

  • Be ORGANIZED and know how to PLAN

  • Possess CONFIDENCE and be PERSISTENT

  • Have the ability to PROBLEM SOLVE

  • Be proficient in the ENGLISH LANGUAGE and the comprehension of the language

  • Have a fundamental understanding of COMPUTERS

  • Possess NEGOTIATING ABILITIES

  • Be able to conduct an INTERVIEW by being able to ask the right questions at the right time

  • Possess the ability to easily establish RAPPORT and a trust level with strangers

  • And, last but not least, the candidate must BE A SELF-STARTER which encompasses the ability to get the job done by being disciplined, self-motivate and having a personal commitment to succeed!

On behalf of the Real Estate Council of Ontario (RECO), OREA (Ontario Real Estate Association) develops and administers the educational courses required to become registered as a licensed Real Estate Sale Representative in the Province of Ontario.

REAL ESTATE AS A PROFESSIONAL CAREER

PHASE I:

$440.00

May be taken through correspondence or on-line through the Internet.

Students must have a pass mark of 75% or greater to continue to Phase II

PHASE II :

$470.00

May be taken through correspondence or on-line through the Internet, or in the classroom environment

Students must have a pass mark of 75% or greater to continue to Phase III

PHASE III RESIDENTIAL GENERAL:

$330.00
PHASE III RESIDENTIAL ADVANCED: $330.00

May be taken through correspondence, or on-line through the Internet, plus 40 hours of classroom time, or 80 hours of classroom time

Students in the pre-registration segment of the program must complete Course 3 General and either Course 3 Advanced Residential OR Course 3 Advanced Commercial. The remaining Course 3 Advanced not selected must be taken during the Articling segment. Please note: Course 3 General need not be repeated during the Articling segment.
Students must have a pass mark of 75% or greater to apply for a real estate license (residential

OR

PHASE III COMMERCIAL GENERAL:

$330.00
PHASE III COMMERCIAL ADVANCED: $330.00

May be taken through correspondence, or on-line through the Internet, plus 40 hours of classroom time, or 80 hours of classroom time.
Students in the pre-registration segment of the program must complete Course 3 General and either Course 3 Advanced Residential OR Course 3 Advanced Commercial. The remaining Course 3 Advanced not selected must be taken during the Articling segment. Please note: Course 3 General need not be repeated during the Articling segment.

Students must have a pass mark of 75% or greater to apply for a real estate license (commercial).

**If a pass mark of 75% cannot be obtained in any of the 3 phases, you can re-write the exam for that phase and you must achieve a pass mark of 75% or greater. If the 75% or greater mark cannot be achieved in the second exam, then you will have to re-register and take that phase over again.

Upon successful completion of these courses, Royal LePage Wolle Realty will apply for your license to the Real Estate Council of Ontario. Upon receipt of your Real Estate license, you will be able to assist buyers and sellers in their buying and selling real estate needs.

Note: Your probationary license is in effect for two years.

Mandatory Courses
(During the first two years of being licensed as a Real Estate Sales Person)

During your first two years of being licensed as a Sales Person and actively trading in the Real Estate Industry, it is a mandatory requirement by RECO that you complete 3 of the following 6 courses, one of which is an elective course.

REAL PROPERTY LAW:

$430.00

May be taken through correspondence, on-line through the Internet, or on-line through the Internet.
 

PHASE III ADVANCED RESIDENTIAL OR COMMERCIAL:

$660.00
Residential or Commercial: whichever course was not taken in the Real Estate as a Professional Career.

May be taken by correspondence, on-line through the Internet, plus 40 hours of classroom time, or 80 hours of classroom time.

 

3rd COURSE CAN BE ONE OF THE FOLLOWING ELECTIVE COURSES:

PRINCIPALS OF APPRAISAL:

$430.00

May be taken through correspondence, on-line through the Internet, or  40 hours in the classroom environment
 
 

Principles of Mortgage Financing:

$430.00

May be taken through correspondence, on-line through the Internet, or  40 hours in the classroom environment
 
 
Real Estate Investment Analysis: $430.00
May be taken through correspondence, on-line through the Internet, or  40 hours in the classroom environment
 
 
Principles of Property Management: $430.00
May be taken through correspondence, on-line through the Internet, or  40 hours in the classroom environment

If these 3 courses are not completed in the first 2 years of licensing, then when your license comes up for renewal after your first 2 year period, you will not be able to become licensed for a second 2 year term and all trading must cease. After this time there is a grace period of 18 months in which you can complete the courses, but, you cannot actively trade in Real Estate.

RECO REAL ESTATE UPDATE
ALL registrants are required to complete this 6-hour course AND take an additional 18 hours of other RECO approved courses every 2 years. In other words, to renew your Real Estate registration every two-year cycle, you must complete a total of 24 hours of continuing education. (Not required in the first 2 years of being licensed).
These continuing education courses are offered through the Internet; through the Royal LePage University site; and at your local Real Estate Board. The costs of these courses will vary from $25.00 and up, depending on what you are taking. Note there is no pass or fail for these courses.

For more detailed information contact OREA at the following:

Website:  www.orea.com               Phone:  1-866-411-6732