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Thinking of becoming a real estate agent in Alberta, but not sure where to start? There are a few steps you need to take before getting your real estate license, but after that you can be on your way to a rewarding career. So let’s start at the beginning.
Real Estate Agent Eligibility Requirements
First step will be to meet the minimum requirements. In order to be a real estate agent in Alberta:
- you must be legally allowed to work in Canada
- you must be able to provide government issues ID
- you must be at least 18 old
- you must be fluent in English
- you must have a minimum high school education
You will also have to questions about your past, like criminal charges, bankruptcies etc. If you have something like this in your past, you may want to request a suitability review. Depending on the situation, RECA could deny you from receiving a real estate license – so it’s better to deal with the issue before starting the course.
Once you determine that you’re eligible, you’ll have to complete the Real Estate Career Information Session. When you complete the information session, you’ll receive a certificate.
You will then create an account through myRECA. This is where everything will be stored, and where you will access your courses.
Real Estate Agent Course in Alberta
Now that you know you’re eligible for a real estate license, it’s time to get started on the course. For those who have enrolled after September 28th, 2021, you will have 6 months to complete the program. You will first start with The Fundamentals of Real Estate. Once you complete the first course, you will pick your area of practice. You can choose from residential, commercial, property management, and rural real estate.
Once you’re getting close to completing the course, you will need to get a certified criminal record check.
Choosing Your Brokerage
You’re done your course, now it’s time to get licensed! You have a maximum time of one year since completion to get licensed. You get licensed by finding employment with a licensed brokerage. Each brokerage does things differently, so it’s important to do your research and find a brokerage that works best for you. With our group at eXp Realty, we offer loads of training and benefits – and bonus, you get to work from the comfort of your own home since we are a cloud based brokerage.
Once you have selected your brokerage, your broker will start your licensing application.
How Much Does it Cost to Become a Real Estate Agent in Alberta?
For the purpose of this cost summary, we will show the costs based on the Edmonton Real Estate Board; however, your costs may vary depending on which board you’re in throughout Alberta.
|Education Eligibility Review||RECA (Real Estate Council of Alberta)||$100|
|Fundamentals of Real Estate Course||RECA||$1250|
|Fundamentals of Real Estate Course Exam||RECA||$150|
|Area of Practice Course||RECA||$800|
|Area of Practice Course Exam||RECA||$150|
|Certified Criminal Record Check||RECA||$90|
|Annual License Fee||RECA||$475|
|Annual Errors & Omissions Insurance**||RECA||$175|
|Assurance Fund Levy (one time fee)||RECA||$100|
|RAE, AREA & CREA Yearly Fees||RAE, AREA, CREA||$2100|
|Keys to Success Course||RAE||$595|
|RAE, AREA & CREA Initiation Fees (one time fee)||RAE, AREA, CREA||$750|
|EKey Setup (one time fee)||RAE||$299|
* RAE – REALTORS Association of Edmonton
AREA – Alberta Real Estate Association
RECA – Real Estate Council of Alberta
CREA – Canadian Real Estate Association
** Fees subject to change. Use this as a rough guideline.
***eXp Realty provides the insurance on a per deal basis at $17/transaction, capping at $200.
Don’t forget to also factor in costs like marketing, lock boxes, signs, listing fees etc. You’ll also have to pay a brokerage fee. Each brokerage does this differently, and includes different things. To learn what’s included with our group at eXp Realty, click here.
If you have any questions about how to become a real estate agent in Alberta, please don’t hesitate to reach out, I’m happy to help!