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Ontario

Ontario is the most populated province in Canada and its capital, Toronto, hosts the largest real estate market in the country. Real Estate licences here are regulated by the Real Estate Council of Ontario (RECO). All education and required courses that are required to obtain a licence are provided by the Ontario Real Estate Association (OREA).

How to get a Real Estate Licence in Ontario

Licencing Prerequisites

Before getting a license in Ontario, the candidate must have the following:

  1. Be a landed immigrant or have lived in Canada for at least 12 months.
  2. Be at least 18 years of age.
  3. Have an Ontario post-secondary school diploma or equivalent
  4. Completed their educational curriculum through OREA

 

Getting the Licence

There is a two-part licensing process in Ontario:

  1. A Basic Licence which expires after 2 years.
  2. An articling period with educational requirements you must complete within the first two years of getting the Basic Licence.

 

Part 1 – Receiving a Basic Licence

To receive a Basic Licence, you are required to complete the following courses within 18 months of each other;

  1. Real Estate as a Professional Career
  2. Land Structures and Real Estate Trading
  3. The Real Estate Transaction – General

AND choose one of,

  1. The Residential Real Estate Transaction (RRET); OR,
  2. The Commercial Real Estate Transaction (CRET)

See the Costs & Fees section for more details.

 

Part 2 – Articling Phase

Within one year after completing the Basic Licence, the prospective realtor must have registered with a real estate brokerage. Click here for suggestions for finding a brokerage. This begins the articling phase.

 

 

 

 

Before two years have passed since receiving the Basic Licence, the Realtor must complete the following courses to maintain their license:

  1. The Residential Real Estate Transaction or The Commercial Real Estate Transaction
  2. Real Property Law
  3. One of the following:
  • Real estate Investment Analysis
  • Mortgage Financing
  • Principles of Appraisal
  • Principles of Property Management
  • The choice between the RRET or CRET courses (#1) is whichever course was not chosen during the Basic Licence phase
  • After the articling phase is complete, the realtor has a permanent licence
  • To maintain the licence after the articling phase, the Realtor must:
    • complete 24 hours of continuing courses every two years to maintain the Basic License
    • pay all annual or biannual fees (see Costs & Fees to get Licenced in Ontario)
    • confirm registration with a real estate brokerage in the province

Licencing Bodies and Organizations

There are two bodies responsible for licensing real estate agents in Ontario:

  • The Real Estate Council of Ontario (RECO) is the body responsible for implementing the Real Estate Business Broker’s Act that creates the legal responsibilities of real estate agents

Real Estate Council of Ontario

3300 Bloor Street West

Suite 1200, West Tower

Toronto, ON M8X 2X2

1-800-245-6910

416-207-4800

http://www.reco.on.ca/professional/industryprofessional.html

 

Ontario Real Estate Association

99 Duncan Mill Road

Don Mills, ON M3B 1Z2

T: 1-800-265-6732

T: 416-445-9910

F: 416-445-2644

info@orea.com

http://www.orea.com/

Costs & Fees to get Licensed in Ontario

The following is a breakdown of the fees that will be necessary to become a Realtor in Ontario:

Course Fees
Description

Cost

Frequency

Notes

Basic LicencePhase Real Estate as a Professional Career

$440

One time only

Required

Land Structures and Real Estate Trading

$470

One time only

Required

The Real Estate Transaction – General+ applicant course option 1

$660

One time only

Required

Articling Phase Applicant course option 2

$330

One time only

Required

Real Property Law

$430

One time only

Required

Elective course

$430

One time only

Required

Continuing Education Courses

TBA**

Every two years

Required

Licencing/Registration Costs
RECO E&O Insurance

$400

Annually

Required

RECO Licence Fee

$350

Every 2 years

Required

CREA/OREA Registration

$400

One time only

Required

CREA/OREA Fees

$474

Annually

Required

Local Real Estate Board Registration

Dependent on area

One time only

Broker-dependent

Local Real Estate Board Annual Fee

Dependent on area

Annually

Broker-dependent

Additional Costs**                                                                                                                         
Franchise Fees

$150-400

Monthly

Broker-dependent

Advertising/Marketing

$250-500

Monthly

Optional

Smart Phone

$50+

Monthly

Optional

Computer

$500

As required

Broker-dependent

Car (budget $10,000)

Dependent on model

As required

Broker-dependent

Total Course Costs $2760
Total Required Costs to Start Your Business $5334  (one month/year)
Total Ongoing Annual  Costs $6449

* TBA new CEU course cost not yet announced

**All Additional Costs are estimates.  HST is in addition to all amounts.

Schools that Provide Real Estate Courses

Training in Ontario is provided by the OREA Real Estate College. They are a direct arm of OREA as instituted by law.

The required courses are provided by OREA Real Estate College at various locations throughout Ontario. These locations are searchable on the OREA website and vary depending on the date and available venues

Please see the below list of the primary locations of courses in major Ontarian cities. For more information and to search OREA course schedules, please visit http://www.orea.com/OREA-Real-Estate-College/CourseCalendar

*All locations subject to change

City OREA Course Location
Brampton Brampton Real Estate Board, 60 GILLINGHAM DRIVE, BRAMPTON, ON, CA, L6X 0Z9
Burlington Realtors Association of Hamilton-Burlington, 505 YORK BOULEVARD, HAMILTON, ON, CA, L8R 3K4
Hamilton Realtors Association of Hamilton-Burlington, 505 YORK BOULEVARD, HAMILTON, ON, CA, L8R 3K4
Kitchener Kitchener-Waterloo Association of Realtors, 540 RIVERBEND DRIVE, KITCHENER, ON, CA, N2K 3S2
London London and St. Thomas Association of Realtors, 342 COMMISSIONERS RD.W., LONDON, ON, CA, N6J 1Y3
Markham OREA Don Mills Education Centre, 99 Duncan Mill Rd, DON MILLS, Ontario, CA, M3B 1Z2
Sudbury Cambrian College of Applied Arts & Technology, 1400 BARRYDOWNE RD., SUDBURY, ON, CA, P3A 3VB
Toronto York University Rexall Centre, 1 SHOREHAM DRIVE, TORONTO, ON, CA, M3M 1S4
Vaughan OREA Don Mills Education Centre, 99 Duncan Mill Rd, DON MILLS, Ontario, CA, M3B 1Z2

 

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