Cost To Get Your Real Estate Licence In Ontario, Canada 2023+

How much does it cost to get your Real Estate Licence in Ontario, Canada. If you’re watching this in 2023 beyond, there have been some changes to the cost of getting your Real Estate licence in Ontario. The educational portion has increased in price by about 10% or so but there are some decreases in registration. In this video we’ll go through exactly that. The cost of the educational portion to get your Real Estate licence followed by the registration phase to now be officially licenced as a realtor here in Ontario Canada. How much does it cost to become a Real Estate Agent here in Ontario is a question that comes up often and you have to know what you’re getting into before you start. I really hope it helps! 👍
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Real Estate and Business are my passion but more than that just providing great client service. I started working with my partner in Real Estate late 2017 doing all of our lead generation, digital marketing, personal branding and follow up. I am now a Real Estate Broker working with eXp Realty. Using everything I have learned over the past years, plus with an always learning mentality I can really help people in Real Estate. With this channel and the KZbin community I'm hoping to meet some like minded people that I can hopefully connect with or maybe even do business with. 👍
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[@CallumMoorekw]

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[@bonjour3597]

Thank you so much very informative!!

[@CallumMoorekw]

Glad it helped!

[@liambroad5530]

Thanks for the awesome video. This video came just in time for me. Starting the application process tomorrow. Keep up the good work.

[@CallumMoorekw]

Too good Liam glad it helped! Reach out anytime as you progress through it and good luck!

[@matthewgiffin9305]

Thank you for being so informative and realistic. Very helpful.

[@CallumMoorekw]

Glad it helped Matthew!

[@geetplaying7144]

Amazing video keep up the good work 👍

[@CallumMoorekw]

Thank you and glad it helped!

[@anmolarora5286]

Thank you so much for this informative video.

[@CallumMoorekw]

Glad it helped Anmol!

[@ankitkhanna6880]

Very helpful! Thanks Callum

[@CallumMoorekw]

Glad it helped Ankit!

[@ruthlewisfitness]

I've been licensed for under a year. It's not an easy business! I've done 8 deals including a bunch of leases....I get down on myself for not doing more! So thanks for the reminder that I'm doing alright!

[@homayonmaher1335]

Hi, can I ask you how much did you make in a month or so. And what was like your biggest profit yet? I am new into this filed so I want to get to know from your perspective if it is good to stick on it or not.

[@karenrowe4872]

@ruthlewis8899 I think you need to build your new home builder network. There is a HUGE demand for new homes even with the interest rate

[@madhviswonderland]

Thanks, Nice video

[@CallumMoorekw]

No problem!

[@michaelnicolosi]

Thanks for the information / I think I will sign up for the course - I really want to be able to work from home is a big part of it as well as many reasons (meeting new ppl and getting deals that are beneficial for everyone and getting to know investors ect.. I did a mortgage agent course and tried that for awhile wasn't for me - I'd fit in were I can work and meet with clients or even working in an office helping realtors - more doors for myself to walk in

[@loselacoustics5605]

Great video! what have your sales and experience been like since getting your license? Maybe do a video about it?

[@CallumMoorekw]

Hey! Things have been great. But I did start over 5 years ago and am now a Broker. But a lot of the fundamentals I talk about in these videos can help you kill it in your first year, thats for sure!

[@sofiasofia8726]

Great video with exact calculations! What about Calgary, could you provide comparison to the education and licensing costs there, or maybe you know someone / can refer me to them for such exact info? Will search KZbin on my own as well, obviously. Many thanks! :)

[@djdestroyer]

What's the average for monthly fees from a brokerage? Seems like some are only $100 or $200 and others go up to $500+ -- are the more expensive brokerages really worth it? They all seem to give similar mentorship/training and not a lot of lead opportunities.

[@eddie2497]

Hi Callum. Thank you for all your informative videos. I about to buy and start course one but I want to get as much info I need as possible. I came across course tree learning. Is it something you will recommend getting extra preparation materials from?

[@CallumMoorekw]

Hey Eddie. I think I got to your other question. 👍

[@aryanludtke7568]

can u do videos on the sellers and buyer’s customer service agreements pleaseee

[@CallumMoorekw]

Hey Aryan. So I probably won't be doing anymore Forms videos unfortunately.

[@sabarna6862]

Hey Callum, Thanks a lot for this informative video ! I have a quick question. If I get my real estate license Ontario will I have access to the MLS database across all of Ontario ?

[@CallumMoorekw]

Hey glad it helped! Not exactly. You can!, but there are local MLS Real Estate Boards that you will join. So you can become a dual or tri member getting you a ton of access maybe even as far as all of Ontario, but most are either single or dual members. TRREB for example. Or my area WRAR.

[@inaquidepablolopezespinosa6514]

Hello Mr. Moore, I have a question, I have 8 months left to finish college and I live in Pickering On. But I want to move to BC once I become a permanent resident, should I get my li license here and then transfer it or should I wait and take the course there? Thank you for your help and amazing guidance.

[@CallumMoorekw]

Hey. I would contact Humber College on this one. Just to make sure. I know there are interprovincial exam but you'd have to find out what's best for you with your unique circumstance. Here is their phone number 👍 - 416-675-5025

[@waelelsayed3952]

Heyyy I’m about to write my C2 exam but so nervous where should I focus on throughout the modules and any advice what I should focus on most topics wise? Please anything helps!

[@CallumMoorekw]

Hey I have a few videos on C2. C2 is the biggest of them all. It's tough to say anywhere specifically. I'd go through the playlist but I'll link to one that does suggest roughly which modules the exam focuses on the most. 👉 kzbin.info/www/bejne/nGGanYKta9aDfMk

[@thanujamiller1835]

Hi Callum, I have 2 questions. Is there a program that summarizes the important topics/sections that will be on the exam for course 1? Just a shortened version of what type of questions we can expect on exam 1 for course 1 or the areas we need to be familiar with? Q2 is I am taking longer that recommended to finish my course 1 meaning I joined in May (5th) and I am still in course 1 as of July 4th. Do you think I am still on track? I did not think it was going to take me this long to complete course 1 but life gets in the way as well as work/family etc. 2 months later and I am only 65% into course 1. Should I be worried from a timeline perspective?

[@CallumMoorekw]

Hey. So there is and I'll link to my Exam Master Mini Course for C1. Is kind of an all in one package however. It's Mini Quizzes, Mini Notes, my Exact Fundamentals I used to pass all exams first try and in 4.5 months as well as I breakdown on video 40+ questions you may see on the exam. I'll link to the value link as well for all KZbin supporters. 👍 exam-master.thinkific.com/courses/exam-master-mini-course-1?coupon=YTFAM25OFF As far as timing. Even right now if you are a little behind it is very early. Sometimes it takes a second to start getting back into the rhythm of learning or studying. I'd recommend to start soon though and put yourself on schedule to get it done in your desired time frame. You do have 2 years but it can be done much faster. Reach out on anything as you progress Thanuja. No worries.

[@NygHTcraWleRr]

Hey Callum, did you join WRAR here in Waterloo? I don’t understand what it means when it says join a local real estate board? Do i need to join a brokerage after that? Please help me out. Thanks

[@CallumMoorekw]

Hey Paarth. Yes, that is how it works. Your local real estate board such as WRAR will be separate from your brokerage. I'll ink to another video that breaks down the 3 parts to a real estate business. - kzbin.info/www/bejne/ZoK2i2Nsiqekgbc

[@alohallo2879]

You can't join wrar unles you are with brokerage.

[@bluegirl1989]

Hi Quick Question. Do I need to register an HST number with CRA when I join a Brokerage? If so how could I do this.

[@CallumMoorekw]

Hey yes you will. The good news is that it's easy to do. It can be done online but you can also call CRA's business inquiries line at 1-800-959-5525 and do it in five minutes on the phone. That is how I did it. I would call early if possible at 8 or 9am to try to wait the least on hold. You'll actually get your HST number on the spot. 👍

[@GuilefullyNomadic]

I have a question. In your example of commission at ~7:40 time stamp where 2% on an $825k home would be $16500…is that not further split between the brokerage and the salesperson? If yes, then your take home would be much less, right? Like if I have a 50/50 split with my brokerage, then my take-home should be $8250….and that is before any expenses I incurred to sell the home. I guess I’m trying to really understand what is a realistic expectation of take home pay on the sale of a typical residential home. Thank you for your time and attention to my query.

[@CallumMoorekw]

Yes it would be depending on your brokerage split. I'll link to a video I did that does take the split into consideration at my brokerage. It was my very first year with a goal of doing $100K in my first year. But 50/50 is WAY too much. Look for 80/20 or 70/30 at there must be a CAP. Video here - kzbin.info/www/bejne/bZjOiXepqamUsMU

[@GuilefullyNomadic]

@@CallumMoorekw thank you for the quick and succinct response. It is greatly appreciated as is all your content so far!

[@CallumMoorekw]

@@GuilefullyNomadic No problem and glad it helps!!

[@anastasiapanina1510]

Hello Callum, I am planning to immigrate to Canada within the next few months and since my profession is real estate agent I'm very interested in your video and hank you very much for such detailed information. I have one question if you know please tell me if I can register for the course and pass it without having any Canadian Documents yet, thank you in advance.

[@CallumMoorekw]

Hey no problem, glad the video helped! Ok so you have to be a Canadian Citizen or Permanent Resident to officially become a Real Estate Agent here in Ontario, however you can start the Humber Program as you anticipate getting your PR. As long as by the time you are finished and want to register with RECO you have it. Hope that helped a bit @anastasiapanina1510!

[@itsactuallyjordan1152]

any tips on finding out your local board fees?

[@CallumMoorekw]

I'd just give them a call.

[@asadb1990]

How easy is it making deals, is there so much demand that people are coming to you or do have to actively hunt for clients or spend crazy money on advertising. The reason im asking is because im considering it as part of my move to Toronto. And i don't have really any time during work hours so it would have to be after hours. But i constantly dont want to be running around for tire kickers. I think i could do property management by undercutting market. Plus there are tax benefits for being an independent contractor. But seriously, i want the pay and effort to be as passive as possible.

[@CallumMoorekw]

There are TONS of different ways you can grow an amazing business around this licence. It is more or less up to you. Putting together a business plan would be best. You have to go to clients IMO if you want to build something big, that's for sure. But I do have multiple partners that have no plans of leaving their full-time job and are doing great business. Personally, I suggest going all in. That way nothing can stop you.

[@asadb1990]

@Callum Moore yeah im more on the side of doing this on the side while working my fulltime job. My main office job is more status for me than anything. I really want this to be side activity and i would be happy with doing this enough that i can match my office job income so im financially free from the hamster wheel. I don't need to build an empire.

[@geoffggilmore3340]

Hi Callum, I’m from Ireland. Plan on moving to Vancouver next year. Here in Ireland I’ve done a degree in auctioneering, valuations and estate agency and am now in my final year of property economics. I have a real estate license in Ireland (called the PRSA license) but I’m aware it does not cover me in Canada. My question is, is there a way for me to get my license fast or do degrees and licenses abroad mean anything in terms of helping me get a license in Canada. Thanks a lot

[@CallumMoorekw]

Hey. So I would contact RECO. Or the equivalent to RECO in Vancouver. It would be worth asking. I know if an agent has had their licence in the past in Canada they may only have to do 1 or 2 courses instead of the full 7. I’m not sure about outside the country, but worth a call or email for sure. 👍

[@MrTAS1975]

Hi Callum, The educational expenses of Humber College are tax deductible?

[@CallumMoorekw]

They are yes. You don’t file them the same way as a normal business expense but they are used as a deductible. 👍

[@varinderbhullar2041]

I am in Alberta right now, I will move to Ontario in 6 months, is it good to start the courses online or should I register in Alberta and then change the license. And are the exams in person or online..?

[@CallumMoorekw]

Hey. So I'm not sure of the difference of the Alberta material vs the Ontario. I know you can take an exam here in Ontario if you choose to do it that way. It's called the interprovincial exam by Humber. Just the 1 course. So maybe something to look into there. As far as online, yes. You can do all the Humber College Real Estate courses and exams here in Ontario online. 👍

[@A1drains]

Hello, Callum. I did my real estate license 2014 only residential exams and did 6 months work with brokerage, I did not pursue further due to some issue I want to resume my exam and license, what is your best advice, should I go from 1 to 6 exam or should I take EEA (Education Equivalency Assessment Application) and take some credit now . I really apricate

[@CallumMoorekw]

Hey. I would call Humber before doing anything. You might be able to only have to do a couple exams because of your past experience. Call them and tell them your situation. Try to get less exams and courses. 👍 Contact page here - humber.ca/realestate/contact.html

[@DragonHDR]

Wait so none of the courses in the post-registration phase have exams? Does this also extend to the 2 course electives?

[@CallumMoorekw]

Yes. No exams in the post-registration. 👍

[@DragonHDR]

@@CallumMoorekw thank you so much I was horrified at the thought of prepping for more exams😂

[@CallumMoorekw]

@@DragonHDR Same actually lol 😄 Nobody wants to reload that online test software!

[@jaypatel6998]

Is it compulsory to take all of the courses or I can give exam directly?

[@CallumMoorekw]

Hey. It is compulsory to take all of the courses yes. Only stipulation is if you previously had your licence. They you might only have to take a portion of them.

[@evanverchenko7522]

How much does it cost to upkeep your license? Do you pay the roughly 7k flat fee during the 2 phases and then never think about it again? Not considering externals. Just cost of maintaining real-estate license

[@CallumMoorekw]

Hey. So I have a video coming out on almost exactly that soon but I'll link below my exact monthly and yearly expenses. These are the rough mandatory expenses. Some stuff can be different like if you choose to join a different brokerage, Brokerage Tech or Desk fee as well as your board fees might be a little different depending on which area you are in. MONTHLY REAL ESTATE BUDGET - $156 eXp Tech Fee - $12.75 RECO Licencing Fee ($306 every 2 Years) - $98.88 WRAR Monthly (local real estate board) - $21.44 WRAR Annually $155.28/12 - $39.55 CREA/OREA Fees $474.60/12 - $41.67 E & O Insurance $500/12 (incl. HST) - $54.91 OREA Health Insurance $658.88/12 Total Monthly = $425.20 Annual = $5,102.40

[@evanverchenko7522]

Thank you so much for the reply! Another thing, can you get a real estate license and then not join a brokerage? Are all of these fees linked to being part of a brokerage? Say you wanted a license just to be able to do something with it down the road but not right away. In that off time do you still pay yearly fees?

[@CallumMoorekw]

@@evanverchenko7522 No problem. So you will have to join a brokerage to be registered with RECO. Which is mandatory. There are brokerages that charge very little though and in those brokerages the real estate agent isn't actually apart of organized real estate so you can take a ton of those fees off. It's what's called, parking your licence. Small monthly fee for that. Not sure exact price.

[@michaelnicolosi]

So - you do a corse and then write the exam right after - rinse and repeat until course is finished?

[@CallumMoorekw]

Yes there are 7 courses in total with 6 of them having exams. And it is more or less that yes. You tackle one course then that courses exam before moving onto the next one.

[@jessicawinslet684]

hmm not sold yet, I'm a Nurse .. kinda tired of it. I just don't want to make less money lol. So working as a realtor you get paid anyways or do you have to make a sale to earn money?

[@CallumMoorekw]

Hey. No 100% commission based. You have to make sales. It’s definitely your own business. 👍

[@Dj__ALIAS]

Do you have to write a test in order to get accepted to the program ?

[@CallumMoorekw]

So if you don't have your high school diploma or equivalent credential there will be a small test, yes. On this page you can apply if you have it, or if you don't click the right side and it will tell you more about the test you will have to take. humber.ca/realestate/apply-now/real-estate-salesperson-program.html

[@bryannguyen5251]

Are those board fees all at once? Or are they monthly?

[@CallumMoorekw]

The initiation fees are all at once and one time fees. Then there are monthly fees as well when it comes to your Real Estate Board.

[@proddubai]

what happens if wait for more then a year after my education to get a job at a brokerage . will i have to do the course or exams again . is it really important to get licence with a year after your education

[@CallumMoorekw]

You essentially have very close to 3 years. You have 2 years for the education and then 1 year to find a brokerage. There are also people that 'park' their licence. It is a small fee monthly I think.

[@proddubai]

@@CallumMoorekw thank you Callum your videos are amazing and full of knowledge really motivated me to go for this course and career 💯

[@CallumMoorekw]

NP@@proddubai ! Glad they help!

[@austinfernandes7224]

how difficult is the math on a regular day as a real estate agent?

[@CallumMoorekw]

No, not bad at all. I love math and wish we had to do more of it but realistically you come in very prepared with all numbers (if any needed) on hand calculated or even just organized prior.

[@user-wt7vt7ox5h]

What is the annually fee to retain the license

[@CallumMoorekw]

Hey. So it does differ a little. Some brokerages charge a desk fee and some boards are a little different. I will add my mandatory expenses below. I am also part of organized real estate. 99% of all Realtors® that take this even slightly serious are a part of it as well. MONTHLY REAL ESTATE BUDGET - $156 eXp Tech Fee - $12.75 RECO Licencing Fee ($306 every 2 Years) - $98.88 WRAR Monthly (local real estate board) - $21.44 WRAR Annually $155.28/12 - $39.55 CREA/OREA Fees $474.60/12 - $41.67 E & O Insurance $500/12 (incl. HST) - $54.91 OREA Health Insurance $658.88/12 Total Monthly = $425.20 Annual = $5,102.40 You'll notice my first one is my "eXp Tech Fee" I'm with eXp Realty that is all I pay monthly. Hope that helps!

[@HJ_044]

Hi. If I apply for pre-registration do I need to pay 600 + 115 along with 75 cad or the whole 4000 cad altogether?

[@CallumMoorekw]

No. You pay as you go per course and per exam.

[@mkmac909]

Canada is such a joke. These fees are a complete scam along with a lot of this whole industry. The fact it became a college course is messed up. Same with thr mandatory working with these big brokerages.