Business

8 Steps on How to Become a Real Estate Agent

A career in real estate is one of the most rewarding. Becoming a real estate agent, however, takes time; and there are steps to follow before you are allowed to practice. First off, you need to meet a few requirements before you can proceed. You must be a Canadian citizen aged at least 18 years and possess not lower than Grade 12 education.

The journey to becoming a licensed real estate agent is not an easy one, especially when it comes to managing the uncertainty of your real estate commissions. Nonetheless, it is highly rewarding in terms of monetary compensation and flexible working hours. Besides, you get to do business with a variety of interesting people.

Below are some of the steps you need to follow to become a real estate agent in Canada.

1. Know the Practicing Requirements for your Area

If you want to become a real estate agent, you should do plenty of online research. This step will only cost you time, and here is where you make Google your friend. Most of the requirements you will need to meet to legally practice as a real estate agent in your area can be found online.

It is important to go through this exercise since requirements vary from one location to another, and from province to province. Find out what the licensing requirements are for your area since these are uniform for all provinces.

2. Get a Real Estate Certificate

There are a host of real estate classes you can take online. You begin by completing a licensing course in basic real estate in your province. Every province has its own course, conducted via sanctioned association boards and organizations.

The key thing to note is that each province administers their own certification, which may be slightly different than that offered by other provinces. However, the basic real estate license is almost the same in all provinces.

3. Join a Brokerage Agency

Your real estate application must be sponsored by a brokerage agency in the province you are applying from. For this, get in touch with various brokers in your area to identify one who is an ideal fit for you. Find out what their work ethic is like, the fee structure and how they are set up.

Here, you are looking for an agency that accommodates your work ethics and charges a reasonable fee for their service. Since this is the brokerage firm you will be working with for a couple of years, you want to be certain it’s the kind of place you would enjoy working in.

4. Apply for Licensing

To become a real estate agent, a license is required. This stage involves your identified brokerage agency sponsoring your application. Apply for a license to practice in real estate. As you do this, remember that different provinces have different licenses, but in almost all of them, you will be required to sit a written real estate exam before being granted a license.

Should your application be approved, you will be asked to pay a licensing fee. In certain provinces, you may be asked to register with a professional organization, which may involve payment of extra fees.

5. Apply for Errors and Omissions Insurance

To practice as a full-fledged, licensed real estate agent, you are required to apply for errors and omissions insurance via the real estate association in your province. The policy insures you against potential mistakes, mishaps, or damages that arise in the course of your work.

6. Complete an Articling Education

During this period, you will be trained and supervised by a qualified mentor. As a freshman real estate agent, you will be mentored by an experienced real estate professional, mainly within the brokerage agency you have chosen.

7. Time to Get your First Client

After the articling period is over, you are now a fully-fledged real estate agent with the requisite training and mentorship to get your first client. While this may not be as easy since you are doing it for the first time, there are a number of tools provided by the real estate association in your area you can take advantage of.

You may also require permission to MLS (multiple listing services) where you can post your properties for the online audience. You may also want to rent a couple of lockboxes from the realty association or your brokerage for easy access to your listed properties.

8. Advertise Your Services

To scale up your hunt for those first clients, go all out and advertise your services online and in your local classifieds if you can. Although you may not have the budget for it, advertising your properties is key to getting that first client. Some inexpensive advertising outlets you can use include property signage, business cards to pass along during networking events, and a working website that is SEO-ready.

Having a strong social networking presence increases your chances of making that first sale. If your budget allows, invest in radio spots and online ads. Whatever you can do to expose your listing to potential audiences, wherever they are, do it and you will soon land your first client.

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