Becoming Licenced to sell in British Columbia and Yukon

Step 1

• Qualify for licensing by taking the Real Estate Trading Services Licensing Course offered by the University of British Columbia, Sauder School of Business (Real Estate Division). It is a self-paced correspondence course comprised of 20 multiple-choice assignments and a 3-hour multiple choice final exam. Individuals may register for the course at any time and have one year from the date of registration to complete the course, however, on average, most individuals complete it within six months based on completing one assignment a week usually spending 10 - 12 hours per assignment.
• Many students find the Real Estate Trading Services Licensing Course difficult. They either drop out or are suspended from the course because they are unable to keep up to the required standard. Do you feel confident that you can successfully study and master the basics of such subjects as financial statements, mortgage finance, local taxation on real estate, building construction, law of mortgages, law of contracts, elements of appraisal, law of agency, title registration of land and local government?
• For more course information and online course registration, please visit the UBC Real Estate Division's Real Estate Trading Services Licensing Course webpage.
• IMPORTANT NOTE ABOUT EXTERNAL TUTORS/LECTURES. Students are encouraged to take advantage of the Tutorial Assistance and Lectures provided with their Trading Services Licensing course rather than spending additional money on external tutors/lectures. It is important to note that the Real Estate Council and UBC Real Estate Division have no ties with tutorial classes provided by other members or organizations of the real estate industry and do not monitor or check the services they provide. Therefore, the Real Estate Council and UBC Real Estate Division cannot be responsible for any information provided by these individuals or companies.
• Prior to registering in the Real Estate Trading Services Licensing Course, individuals should familiarize themselves with the Good Reputation Guidelines contained in the Council's Real Estate Licensing Guidelines for Individuals. Applicants who have some concern about whether or not they satisfy the requirements of being of "good reputation" should, prior to registering for the Real Estate Trading Services Licensing Course, submit an Application for Pre-Screening form. An advance decision may thus be obtained as to the applicant's suitability for licensing, subject to passing the course and examination.
• If you feel that you have previous education or experience that would exempt you from either the Licensing Course or Examination, please review the Council's Education Exemption Guidelines.

Step 2

• Prior to registering for the Real Estate Trading Services Licensing Course Examination, individuals must satisfy the Language Proficiency Requirement.

Step 3

• When you have successfully completed the Real Estate Trading Services Licensing Course and examination, prior to making application for licensing, you must register in the Residential Trading Services Applied Practice Course or the Commercial Trading Services Applied Practice Course delivered by the BC Real Estate Association. Once licensed, individuals have six (6) months to complete this five day in-class course. This course is a requirement of licensing and failure to complete the course will result in licence termination.

Step 4

• Once you have registered in the applicable Applied Practice Course, you may apply to the Real Estate Council of British Columbia for licensing as a representative licensed to provide trading services (sales) by completing the Application for Representative, Associate or Managing Broker Licence form.

Notes:

1. When applying for licensing, individuals must have their intended brokerage sign the application for licensing. It is recommended that while individuals are taking the Real Estate Trading Services Licensing Course they meet with potential employers.
2. Should more than one year elapse from the time you pass the licensing exam until a licence application is submitted by you, you will be required to pass the exam again. No exceptions.
3. As a Criminal Record Check is conducted by the Council prior to initial licensing, first-time licensees should expect to wait up to 3 weeks for their application to be processed. Alternatively, applicants may have the RCMP send a current (dated within the last 30 days) Certified Criminal Record Check, that has been obtained through fingerprints, directly to the Real Estate Council in a sealed envelope.

Once an individual has completed the four steps above, they will be licensed as a representative licensed to provide trading services.

Relicensing Education Program

Effective January 1, 2007, the Relicensing Education Program (REP) requires licensees to complete two courses every licensing cycle as a condition of continued licensing. For further information, please see the REP page.

Budget

Making a commitment to becoming licensed to provide trading services also includes (but is not limited to) the following financial considerations.

• Real Estate Trading Services Licensing Course and financial calculator - $875 & $60
• LPI examination (if required) - $53 plus study materials
• Licensing fee - $1100 (includes 2 year licensing fee, Errors & Omissions Insurance and Compensation Fund Corporation assessment)
• Residential Trading Services Applied Practice Course - $630.00
• Real Estate Board fees -Fees vary from board to board. Click on the link to contact your local board office.
• Additional costs for consideration: desk fees, transaction fees, business cards, signs, cell phone, fax, PDA, computer, printer, website, internet access, car lease and business car insurance, business clothing, etc.
• You should also take into account the cost as well as the time needed to establish a practice and to build up an income to meet your personal requirements. Therefore, you should have sufficient capital available to support yourself if your personal goals are not met as soon as you would like.

© copyright 2009

Real Estate Council of British Columbia
900 - 750 West Pender Street
Vancouver, B.C., Canada V6C 2T8

Tel: 604-683-9664
Toll-free: 1-877-683-9664
Fax: 604-683-9017

Education
Caroline Allen, Education & Licensing Officer
callen@recbc.ca