How to get started in ontario real estate |
| Date Added: May 19, 2008 01:30:40 AM |
| Author: Ahmer Shuja |
| Category: Education: Real Estate |
| It takes most candidates about six months to study for and complete the three sets of exams required to obtain a real estate license in Ontario. Within two years of becoming licensed, agents must also successfully complete two additional “articling” courses, and thereafter must acquire 24 professional development credits every two years for the remainder of their career (a credit is roughly equivalent to an hour of classroom study). The costs associated with the three exams and the two articling courses are about twenty-four hundred dollars. The exams can be done through the Toronto Real Estate Board (TREB) or by correspondence. The Ontario Real Estate Association (OREA) is the governing body for the profession. Its website is an excellent place to start your research www.orea.com. Follow the heading - Careers in Real Estate (the subheading titled “Assessing Personal Potential” may be a particularly useful starting point). Of course, no amount of on-line information gathering is ever a substitute for good old-fashioned face-to-face research. Regardless of whether your interest in real estate reflects a change of direction or a first career, you would be wise to ask as many people as possible for their insights. What are the pleasures and pitfalls of the profession? Where are your best chances for success? How quickly can you expect to generate an income after obtaining your license? Your first task when conducting this research is to determine whether real estate would be a good fit for you. Susanne Hudson of Chestnut Park Real Estate Ltd. (a good friend who very generously offered to help me prepare this column) believes that excellent people skills are fundamental to success and, within that, the ability to listen and really understand is particularly important. Susanne points out that almost everyone finds buying or selling a house to be a stressful experience. A good agent needs to be able to coach and support his or her clients throughout the entire process. Patience is another essential character trait, as clients often change their minds and, if two people are buying or selling a house together (as is usually the case) they may not always have the same criteria or expectations. Facility with math, a depth of experience in sales, and being a good negotiator are obvious strengths - and it pays to simply love and know a lot about houses. I’d add flexibility and high energy to the list. It’s been my experience that really good real estate agents (Susanne being an example) are constantly on the go and need to be able to change gears at a moment’s notice. Most real estate agencies are lean operations, which means that the opportunities to work in the industry while pursuing your license may be limited. Large agencies have staff to manage the office, schedule appointments, and so on. Individual top agents may hire assistants, and you might be able to persuade someone to let you job shadow them (although you will be barred from actually getting involved with any aspect of the sale until you’ve completed your license). Susanne suggests that novice agents might consider starting in the condominium market. Prices tend to be lower in this sector and the deals are generally less complicated. She also cautions job seekers to expect up to 12 months of study and hard work before making the first sale. This usually means finding some alternative means of income while you are building your business. www.StudyReal.com |
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