Real Estate as a Professional Career
Fee: $440 (includes Learning Package)

This course will provide:

• A general overview of the real estate profession and how it interacts with other elements of our society.
• An overview of how the real estate profession works and what skills will be required.
• An exploration of the importance of economics, demographics and geography on real estate values.
• An investigation of consumer buying habits and marketing methods.
• A basic overview of mathematics.

The Real Estate as a Professional Career Learning Package includes a course text for correspondence students. E-learning students use an online course text. A complimentary carrying case is provided

Land Structures & Real Estate Trading
Fee: $470
Pre-requisite: Successful completion of Real Estate as a Professional Career.

The student will:

• Be provided with an overview of how land and property is registered and how ownership occurs.
• Examine municipal planning and land use regulations.
• Identify the key elements in the construction of home and buildings.
• Review the process of determining the value of a property.
• Review the process of trading in real estate, including appropriate legislation (REBBA 2002), as well as the concept of representation relationships.

The Real Estate Transaction - General

Pre-requisites: Successful completion of Real Estate as a Professional Career and Land, Structures and Real Estate Trading.

This course will provide a detailed overview of the real estate transaction, from listing agreement through to the final sale.

Students in the pre-registration segment of the program must complete The Real Estate Transaction - General and either The Residential Real Estate Transaction OR The Commercial Real Estate Transaction. The remaining course not selected must be taken during the Articling segment. Please note: The Real Estate Transaction - General need not be repeated during the Articling segment

The Residential Real Estate Transaction

OR

The Commercial Real Estate Transaction

Pre-requisites: Successful completion of Real Estate as a Professional Career and Land, Structures and Real Estate Trading.

This course will provide a detailed overview of the real estate transaction, from listing agreement through to the final sale.

Students in the pre-registration segment of the program must complete The Real Estate Transaction - General and either The Commercial Real Estate Transaction OR The Residential Real Estate Transaction. The remaining course not selected must be taken during the Articling segment. Please note: The Real Estate Transaction - General need not be repeated during the Articling segment.

Registering with RECO

To become registered as a Salesperson with the Real Estate Council of Ontario (RECO), you must:

• be a resident of Canada
• be at least 18 years of age
• complete the Pre-registration Segment courses within 18 months of the start date of the first course (Real Estate as a Professional Career)
• obtain employment with a registered brokerage and make application for registration with RECO within 12 months of completing the Pre-registration Segment
• apply for registration within one year of successfully completing your last Pre-registration course (The Real Estate Transaction-General and either The Residential Real Estate Transaction or The Commercial Real Estate Transaction)
• complete and submit the forms approved by the Registrar under REBBA 2002, accompanied by the relevant fee

You may begin trading in real estate upon obtaining Salesperson registration with RECO.

Registration Renewal

You must renew your registration every two years.

To renew your registration as a Salesperson with RECO, you must successfully complete the Articling Segment of The Salesperson Registration Education Program within 24 months of the start date of your initial registration with RECO.

Maintaining Your Registration

Following completion of your first registration cycle (Articling Segment courses), you must complete the continuing education requirements in every two-year cycle thereafter to maintain your real estate registration, including the RECO Real Estate Update Course (Residential or Commercial). The continuing education requirements apply to all registered real estate brokers and salespersons.

Articling - first two year segment

Once registered as a salesperson with RECO, the two-year articling segment begins. Salespeople must complete three additional courses to be eligible to renew their salesperson registration. The courses include Real Property Law, the remaining Residential Real Estate Transaction or Commercial Real Estate Transaction course, and one of the following elective courses:

• Principles of Appraisal
• Real Estate Investment Analysis
• Principles of Mortgage Financing
• Principles of Property Management

Note:
If a student chooses to take an Articling segment course before completing all the required courses in the Pre-Registration Segment and attaining Salesperson Registration, the Real Estate Council of Ontario will not recognize the credit unless the student re-writes and passes the examination.

Broker Course (optional)

Fee: $830
Pre-Requisites: Completion of the Salesperson Registration Education Program plus one additional elective.*

This is an optional course registrants must take should they wish to pursue registration as a broker. The registrant must have completed the Articling segment plus one additional elective prior to taking this course. This course covers the establishment, operation and management of a real estate brokerage.

To become registered as a broker, an applicant must:

• Be at least 18 years of age.
• Be a resident of Canada.
• Include supporting documentation as required with the application, and pay appropriate fees.
• Have been registered and employed as a salesperson for at least 24 of the 36 months immediately preceding the date of application, or have equivalent experience.
• Have completed courses of study and passed written examinations all as approved by the Registrar with a pass mark of not less than 75%. The final examination must have been completed within the one year preceding application.
• Make an application for registration as a broker within one year of the Real Estate Broker Course examination date. If an application is made after one year from the examination date, please contact RECO’s Education Department at education@reco.on.ca for further clarification. The application must be made on the prescribed form.
• Submit an original Canadian criminal record check, along with the application, to RECO.
• Have a good past record of financial responsibility and conduct.

The Real Estate Broker Course must be completed within 12 months of the original e-learning or correspondence start date. If necessary, re-write examinations must be completed within one year of the original examination date. No extensions are granted.

* Effective April 1, 2009, registrants who have not completed Phase 3 Commercial, must complete The Commercial Real Estate Transaction as the additional elective requirement.

** Course Fees and information subject to change without notice.  To verify current pricing and course information please visit www.orea.com and click on "Becoming a Realtor" **