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A Real Estate
Career With Royal LePage Wolle Realty
Educational Requirements
Residential Sales involves the Real Estate Sales
Person in assisting a Buyer or Seller with the buying and
selling process of resale housing, new home sales, condominium
sales, rural and recreational sales, and vacant land sales.
In order to become a Real Estate Sales Person
certain educational programs must be completed in order for an
individual to legally be able to help others buy and sell real
estate in the Province of Ontario.
In order to become a successful Real Estate
Sales Person and build a worthwhile career it is essential that
the individual entertaining a Career in Real Estate possess the
following attributes. The classroom educational process is not
enough to ensure your success.
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The candidate should have a basic knowledge
of MATH
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Be able to understand the RESEARCH process.
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Be ORGANIZED and know how to PLAN
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Possess CONFIDENCE and be PERSISTENT
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Have the ability to PROBLEM SOLVE
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Be proficient in the ENGLISH LANGUAGE and
the comprehension of the language
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Have a fundamental understanding of
COMPUTERS
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Possess NEGOTIATING ABILITIES
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Be able to conduct an INTERVIEW by being
able to ask the right questions at the right time
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Possess the ability to easily establish
RAPPORT and a trust level with strangers
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And, last but not least, the candidate must
BE A SELF-STARTER which encompasses the ability to get the
job done by being disciplined, self-motivate and having a
personal commitment to succeed!
On behalf of the Real Estate Council of
Ontario (RECO), OREA (Ontario Real Estate Association) develops
and administers the educational courses required to become
registered as a licensed Real Estate Sale Representative in the
Province of Ontario.
REAL ESTATE AS A PROFESSIONAL CAREER
The Real Estate as a Professional Career
educational courses are as follows:
| PHASE I: |
$390.00 |
| May be taken through correspondence
or on-line through the Internet. |
Students must have a pass mark of 75% or
greater to continue to Phase II
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| PHASE II: |
$420.00 |
| May be taken through correspondence
or on-line through the Internet, or in the classroom
environment |
Students must have a pass mark of 75% or
greater to continue to Phase III
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| PHASE III RESIDENTIAL: |
$620.00 |
| May be taken through correspondence,
or on-line through the Internet, plus 40 hours of
classroom time, or 80 hours of classroom time |
Students must have a pass mark of 75% or
greater to apply for a real estate license
(residential
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OR |
| PHASE III COMMERCIAL: |
$620.00 |
| May be taken through correspondence,
or on-line through the Internet, plus 40 hours of
classroom time, or 80 hours of classroom time. |
Students must have a pass mark of 75% or
greater to apply for a real estate license
(commercial).
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**If a pass mark of 75% cannot be obtained
in any of the 3 phases, you can re-write the exam for that phase
and you must achieve a pass mark of 75% or greater. If the 75%
or greater mark cannot be achieved in the second exam, then you
will have to re-register and take that phase over again.
Upon successful completion of these courses,
Royal LePage Wolle Realty will apply for your license to the
Real Estate Council of Ontario. Upon receipt of your Real Estate
license, you will be able to assist buyers and sellers in their
buying and selling real estate needs.
Note: Your probationary license is in
effect for two years.
Mandatory Courses
(During the first two years of being
licensed as a Real Estate Sales Person)
During your first two years of being licensed as
a Sales Person and actively trading in the Real Estate Industry,
it is a mandatory requirement by RECO that you complete 3 of the
following 6 courses, one of which is an elective course.
| REAL PROPERTY LAW |
$405.00 |
| May be take through correspondence,
or on-line through the Internet or in the classroom
environment. |
| PHASE III |
$620.00 |
| Residential or Commercial: whichever
course was not taken in the Real Estate as a
Professional Career. May be taken by
correspondence, on-line through the Internet, plus
40 hours of classroom time, or 80 hours of classroom
time. |
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3rd COURSE CAN BE ONE OF THE
FOLLOWING ELECTIVE COURSES: |
| Principles of Appraisal |
$405.00 |
| May be taken through
correspondence, on-line through the Internet, or
in the classroom environment |
| Principles of Mortgage
Financing |
$405.00 |
| May be taken only in the
classroom |
| Real Estate Investment
Analysis |
$405.00 |
| May be taken through
correspondence, on-line through the Internet, or
in the classroom environment |
| Principles of Property
Management |
$405.00 |
| May be taken only in the
classroom |
If these 3 courses are not completed in
the first 2 years of licensing, then when your license
comes up for renewal after your first 2 year period, you
will not be able to become licensed for a second 2 year
term and all trading must cease. After this time there
is a grace period of 18 months in which you can complete
the courses, but, you cannot actively trade in Real
Estate.
RECO REAL ESTATE UPDATE
ALL registrants are required to
complete this 6-hour course AND take an additional
18 hours of other RECO approved courses every 2 years. In other
words, to renew your Real Estate registration every two-year
cycle, you must complete a total of 24 hours of continuing
education. (Not required in the first 2 years of being
licensed).
These continuing education courses are offered
through the Internet; through the Royal LePage University site;
and at your local Real Estate Board. The costs of these courses
will vary from $25.00 and up, depending on what you are taking.
Note there is no pass or fail for these courses.
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