>> Why Choose Buckingham >> Careers in Real Estate >> FAQs and Resources

Frequently Asked Questions and Resources Q.            How do I become licensed to sell Real Estate in Ontario? A.            Requirements - Education: All real estate practitioners in Ontario must pass a comprehensive program of study to ready them for the complex business of trading real estate.  The OREA Real Estate College offers this licensing education as the nominee of the licensing body, the Real Estate Council of Ontario. Students must complete three pre-registration courses within 18 months of the Phase 1 start date. Phase 1: Real Estate as a Professional Career. Phase 2: Real Estate as a Professional Career. Phase 3: Residential Real Estate as a Professional Career or Commercial Realtor as a Professional Career. To register or read more online, visit: http://www.oreacollege.com/index.cfm/ci_id/7294.htm Both licensing and continuing education courses are offered in three formats, online, by correspondence and in the classroom. Requirements - Licensing: Salespeople in Ontario must be employed by a real estate brokerage and be registered with the Real Estate Council of Ontario in order to receive commissions.  Upon completion of the pre-registration courses, the student may obtain provisional status as a salesperson. A student must pay a two-year registration fee with RECO along with the mandatory insurance program premium. You may access www.reco.on.ca for additional information. Q.  How long does it take to start earning? A.  The earning cycle in real estate is largely driven by the time and effort you invest, and the speed with which you develop clientele.  You will wait 30-90 days from the date of a firm deal until the sale closes and you are paid.  Earnings can also be affected by area, property type and local conditions.  Ideally an individual should have sufficient capital available to be financially independent for six months.  Q.  How much can I make in Real Estate? A.  Predicting income is always a difficult task.  Earnings are typically related to personal sales ability, people skills and a persons commitment.  This is why joining a sales team with a proven track record, strong training and support is essential.  Several years experience is often necessary before accurately predicting income levels.  Many real estate professionals earn six-digit incomes.  Your income should increase substantially as you grow your client base and earn referrals from happy customers.  You will also notice a direct effect between the time and care you devote to your profession and the returns you generate. Q.  How will I be paid? A.  Compensation is usually based on a commission structure.  Commission plans vary and may depend on the number of properties sold or leased.  Earnings can also be affected by area, property type, local market conditions, specific brokerage policies and costs you will incur. These costs include licensing and board fees, advertising costs and any franchise fees a broker may charge. Resources A good place to learn about a career in Real Estate is with the governing national and provincial real estate associations.  Below are links to the Canadian Real Estate Association and the Ontario Real Estate Association. OREA - http://www.oreacollege.com CREA - http://www.crea.ca You may want to talk to other real estate sales professionals to learn what a day-in-the-life of a successful agent is like.  At Buckingham Realty our team is our core asset.  Contact us to learn more and to find out how we can help you get on track to a successful career.

4573 Tecumseh Road East. - Windsor, ON N8W 1K6
Toll Free: 877.443.4153 - Phone: 519.948.8171 - Fax: 519.948.7190

Home | Career Opportunities | Our Properties | Online Services | Our Team | Info Centre | Commercial ICI
Contact Us | Privacy Policy

Website Designed and Hosted by The Imagination Factory