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Thread: Becoming a Real Estate Agent/Associate

  1. #1
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    Default Becoming a Real Estate Agent/Associate

    I'm in the process of researching how to become a real estate agent for my dad. He speaks alot of languages and what not so I think he'd do good in it..

    As I said, I'm still researching what is needed etc.. but posted here in hopes of the community giving a helping hand making my job quicker. (sooner i figure this stuff out, the better... for reasons that will remain anonymous)

    I've found so far that you need to:

    - complete a pre-licensing course
    - score at least 70% on a provincial qualifying exam
    - establish a relationship with a license real estate brokerage and apply for registration with RECA (Real Estate Council of Alberta) through that brokerage

    Where do you take these courses?
    How much does it cost?
    How long does it take?
    Is it possible to do this while working a full time job?
    Any tips on the forming of a relationship with a license brokerage?
    Any other tips in general?

    Thanks

    one last thing... what's the difference between a real estate associate and a broker?

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    Default Re: Becoming a Real Estate Agent/Associate

    Originally posted by stefan.bounket
    I'm in the process of researching how to become a real estate agent for my dad. He speaks alot of languages and what not so I think he'd do good in it..

    As I said, I'm still researching what is needed etc.. but posted here in hopes of the community giving a helping hand making my job quicker. (sooner i figure this stuff out, the better... for reasons that will remain anonymous)

    I've found so far that you need to:

    - complete a pre-licensing course
    - score at least 70% on a provincial qualifying exam
    - establish a relationship with a license real estate brokerage and apply for registration with RECA (Real Estate Council of Alberta) through that brokerage

    Where do you take these courses?
    How much does it cost?
    How long does it take?
    Is it possible to do this while working a full time job?
    Any tips on the forming of a relationship with a license brokerage?
    Any other tips in general?

    Thanks

    one last thing... what's the difference between a real estate associate and a broker?
    You can take the course through Mount Royal College or the Calgary Real Estate Board. I am not sure what the current cost or length of the course is. I do believe they still offer a part-time evening and weekend course.

    In terms of finding a brokerage, interview with as many as possible. Find out from people in the industry why they are with the office they are (franchises are independently owned) and if they like it where they are. He has to feel comfortable where he is and as a new Realtor he'd probably want to find an office with hands on training. Probably have to avoid most RE/MAX offices since most of them only want experienced Realtors. I started with Royal LePage and they had a great training program. I have heard good things about Maxwell's as well.

    A Broker carries the licensing requirements to run his/her own brokerage and have associates working under them basically. Last I checked, to qualify for a broker's license you'd have to be licensed as an Associate for 2 years and then complete the required courses.

    You should check out CREB, RECA and AREA they should be able to answer your questions.

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    Default

    I finished less than a year ago. Basically, just over 3 months, roughly 10000, maybe a bit more. 4 sectiong, intro, commerical, residential, rural. Each section has a exam at the end that 70 is the min pass score. You also need 80% attendance through the courses. The tests can actually be pretty tough. Ill be honest and admit to taking 2 over. The questions are not the essentials to real estate but more so stuff that may have been in fine print and they try and stump you on.(not fair in my oppinion).
    Creb and MRC has the courses.

    Once your done all that you go interview as many brokerages as possible as HRD2PLZ said. I ended up signing on with the first broker i met with due to the style that our brokerage has.

    Then you pay CREB your licensing fee and you take a 1 day course through them.

    Then plan on spending at least 3 months with no pay cheque.(they say this is the average)

    And months to come can be tough as building clientelle is the hardest part of the job. Im sure all the Realtors on the forum will agree with me on that.

    Good luck to your father...

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    Default

    I do believe the course is also available through correspondence - internet. The exams are taken at the same time all the other students write their exam though.


    You can take the evening/part-time courses, but I think it'll take 8-12 months to finish all the courses?

    expect to make less than 20k in your first year, meaning, have moneys/work to suppliment
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    Default Re: Re: Becoming a Real Estate Agent/Associate

    Originally posted by HRD2PLZ
    ....... Last I checked, to qualify for a broker's license you'd have to be licensed as an Associate for 2 years and then complete the required courses.

    You should check out CREB, RECA and AREA they should be able to answer your questions.
    I thought you had to be an associate broker for at least a year before becoming a broker,.. needing your realtor license at least 2 years to take the brokers course to become an associate broker.

    I could be wrong though.
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    Default Re: Re: Re: Becoming a Real Estate Agent/Associate

    Originally posted by barmanjay


    I thought you had to be an associate broker for at least a year before becoming a broker,.. needing your realtor license at least 2 years to take the brokers course to become an associate broker.

    I could be wrong though.
    An Associate Broker is someone who carries the qualifications to be a Broker but isn't registered as a Broker for the purposes of the Brokerage. A brokerage can only have one Broker, anyone else with the licensing qualifications to be a Broker is registered as an Associate Broker

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    wow... i didn't realize it would take that long to do this...

    Lets say after the courses and everything and my dad becomes a realtor... Would it be possible to work as a realtor in the evening and a full time job during the day? or would that not work out so great... I know that of course it'd take longer to get established sicne you've got less time working with real estate... but is it even possible? Or do you have alot of other things to do during the day etc?

    Don't know if it'd be possible for him to quit his full time job to start real estate with no pay for the first few months and possibly very little pay in the first year. Family of 5 to support... with all 3 kids in post secondary... (all 3 of us work but probably not enough to cover his job if he were to quit)

    I'll check out the sites... inform my dad.. see if he's up for it... thanks for all the great info guys. Appreciate it more than you probably think.

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    Originally posted by stefan.bounket
    wow... i didn't realize it would take that long to do this...

    Lets say after the courses and everything and my dad becomes a realtor... Would it be possible to work as a realtor in the evening and a full time job during the day? or would that not work out so great... I know that of course it'd take longer to get established sicne you've got less time working with real estate... but is it even possible? Or do you have alot of other things to do during the day etc?

    Don't know if it'd be possible for him to quit his full time job to start real estate with no pay for the first few months and possibly very little pay in the first year. Family of 5 to support... with all 3 kids in post secondary... (all 3 of us work but probably not enough to cover his job if he were to quit)

    I'll check out the sites... inform my dad.. see if he's up for it... thanks for all the great info guys. Appreciate it more than you probably think.
    Most REALTORS start out part-time and build up a customer base before switching to full-time.

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    ^^^^ Very untrue.

    as a new realtor you need to be available any time your client wants you. My class of close to thirty had nearly everyone quit there job to get into this. In order to make it you need to spend 8 hours a day as a newbie just marketing and what not.

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    Originally posted by tm88
    ^^^^ Very untrue.

    as a new realtor you need to be available any time your client wants you. My class of close to thirty had nearly everyone quit there job to get into this. In order to make it you need to spend 8 hours a day as a newbie just marketing and what not.

    What sort of education requirments are there ?
    Say I just graduated , looking into realty instead of going to mount royal for my bachelor of arts, I understand im young but
    would it be a good Idea to try and jump into it right away given I complete the associate broker courses.

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    Originally posted by tm88
    ^^^^ Very untrue.

    as a new realtor you need to be available any time your client wants you. My class of close to thirty had nearly everyone quit there job to get into this. In order to make it you need to spend 8 hours a day as a newbie just marketing and what not.
    I disagree with you. I've been in the industry for nearly 9 years and have dealt with thousands of new licensee's. It's my experience that most new licensee's keep their full-time job and work part-time until they get a couple of deals under their belt and establish some confidence. I find that once people get their license and return to their full-time employer and spread the word about their new status, they find themselves listing fellow co-workers or clients homes for sale or helping them buy. Networking is key to your success in this industry as I am sure you are aware. On the other hand, if a new licensee has very little training or experience in real estate they might be forced to enroll in a full-time training program depending on their arrangement with their brokerage. My experience is that it all depends on the individual, their financial situation, their risk tolerance, their knowledge, etc....

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