How to become a Realtor in Canada

Anybody interested in buying or selling of properties in British Columbia should have a license for doing real estate sales. All the real estate professionals are connected to a Brokerage and the brokerage manager has to keep track of the real estate professional activities. A person with various kinds of immigrant status can become a real estate professional in Canada. The status can vary from a Canadian citizen to permanent resident work permit. The various steps involved in “How to become a Realtor in Canada” are described below.

STEP 1 :

Enroll and complete the Real Estate Licensing course from UBC ‘s Sauder school of business.

The licensing course is offered by university of British Columbia’s Sauder School of Business. The course can be started at anytime of the year and is self paced. The course has to be completed within one year of registration and the students have to secure a minimum of 70% marks in order. In the course students are provided with tutorial assistance and online resources.

If somebody has any previous experience or education in the field of real estate then the need to do the licensing course can be exempted asper BCFSA’s  guidelines.

STEP 2 :

Connect with brokerage which is fit for you as per your style of working, distance and familiarity.

STEP 3 :

Apply for applied practice course of BCFSA and complete within next 6 months.

Applied practice course is an additional course which has to be done in addition to the licensing course. The applied practice course can be taken either for the residential properties or for the commercial properties and it has to be completed within six months. The license to sell and purchase real estate properties is only issued after the applied course has been completed.

The applied course can be simultaneously started along with the licensing course and  students can study for both the courses at the same time if they are able to.

 

STEP 4 :

Submit licensing application signed by the brokerage manager mentioned in step 3 , to BCFSA , and continue doing the applied practice course mentioned in step 2.

On starting the applied practice course the candidates can send their completed applications for license, signed by their brokerage to the appropriate office. The license will be issued even before the applied course has been completed, but with the condition that the applied course will be completed within six months from the start date .If the applied course is not completed within six months then the license is cancelled.

 

STEP 5 :

Get approved license and keep on working to complete the applied practice course mentioned in step 2.

STEP 6 :

Maintain license by doing mandatory training at required intervals.

Licensing Fee for Realtors as in 2021:

Type of Application	Fee
First-Time Licensing Application	$2,000
Re-licensing Application(unlicensed for more than 90 days from licence expiry)	$2,000
Licence Renewal Application	$1,650
Late Renewal (unlicensed less then 90 days from licence expiry)	$1,700
Licence Transfer or Reinstatement Application	$250
Change of Licence Level or Category	$250
Secondary Managing Broker Licence Application	$1,000
Secondary Managing Broker Licence Renewal	$950
Name Change	$50

 

Personal Real Estate Corporation First Time Fee :

Full Months*	Fee**
1	$71
2	$141
3	$213
4	$284
5	$354
6	$425
7	$496
8	$566
9	$638
10	$709
11	$779
12	$850
13	$921
14	$991
15	$1,063
16	$1,134
17	$1,204
18	$1,275
19	$1,346
20	$1,416
21	$1,488
22	$1,559
23	$1,629
24	$1,700