Thanks to Canada's growing population and improving infrastructure, our real estate market is booming. You may ask yourself, how do I get into this lucrative business?
Well, it takes a lot of different elements that include both theory and intuition. You need to carry a balance of both knowledge of the market and positive personal characteristics.
Royal LePage Signature supports this overview—they support over 850 agents in just the Greater Toronto Area alone and actively train many new ones each year.
Jim Ouellette, Talent Scout at Royal LePage Signature, has been in the industry for over 33 years, been a top percentile broker, and has owned 7 successful brokerages before (which are still operating today).
His firm is always on the hunt for the next great real estate agent and as a result, always welcomes new potential agents. He finds that an individual who wants to have success in this industry must also have characteristics beyond just knowing the book inside and out.
Ouellette believes there is much more that goes into real estate than just the theoretical steps. There is also a human aspect that can separate you from the rest of the pack. “I look for professional individuals who have great people skills, are personable, outgoing and willing to learn,” he says.
Ouellette goes on to outline the five primary steps you need to follow and complete to successfully enter real estate. These initial stages to receiving your real estate licenses are referred to as the ‘pre-registration segment,’ which you must complete within the program's first 18 months.
The first course the applicant must complete is known as real estate as a professional career. This course provides a basic understanding of real estate including concepts, details, how it connects to society, calculations and further e-learning.
Step two is referred to as sales person-land structures and real estate trading land, structures and real estate trading. This step is where one would examine governmental practices, trading regulations, and technical requirements. 60 hours in total will be spent in class and through e-learning.
Course three is one of either a transition into commercial or residential real estate. In this course, one will walk through the entire process from the listing to the final sale.
The forth step discusses the commercial real estate transcation and provides detailed overview of this transaction type, from listing agreement through to the final sale, and explores current trends and issues that impact commercial real estate.
And the final step reviews real property law, giving students a clear understanding of the legal issues concerning property ownership and in-depth knowledge of a number of legislative acts.
After the ‘pre-registration segment’ is over, you have 12 months to work for a brokerage or to register as a salesperson with the Real Estate Council of Ontario.
Upon completion of these steps, you will become a certified real estate agent.
"Build your database and grow the overall number of people you know,” says Ouellette. “This is a referral based, word-of-mouth business. With this information, one can have a tremendous amount of success."