Step by Step Process to Getting Vancouver Real Estate License
Are you considering becoming a Realtor? Do you want to know how to get your Vancouver real estate license? If so then I’m going to tell you how to do that in this post.
I legitimately have a friend or someone reach out to me on Facebook at least once a month asking me how to get their Vancouver real estate license. So I’m hoping this will help people out.
Given the lower barrier of entry to become a Realtor and the lucrative money involved i’m not surprised so many people want to or try to become one. However, this is a full on disclaimer before we go any further! This profession is downright hard. It’s the exact same as if you were to start your own business. The first couple years are gruelling and you probably won’t make much money, even if the market is hot. Fun fact, 90% of all Realtors drop out of the industry in the first 2 years. Many would make more money working full time at McDonald’s. If you think you’re going to do this part time on the side, good luck!
Ok so now that you know the risks involved and you’ve decided to push on and try to become a successful Realtor, here’s how you do it. First you have to take the course Real Estate Trading Services Licensing Course through UBC Sauder. This is an online course and the only way to get licensed in BC.
- The Licensing course takes anywhere from 4 months to a year max depending on how much effort you put in. Any longer than a year and you have to do it again.
- Tuition is $1150
- You must complete all 20 assignments which consist of 20 questions per section of the study material. You must get 13/20 on each assignment which is multiple choice.
- After completing all the assignments you must pass the licensing exam. This is written at UBC and consists of 100 multiple choice questions. You need atleast 65% to pass.
- You then must complete the hands on practical course within one year of passing your exam. This course costs $918.75 and is divided into 4 parts detailed below.
• Component One: In this two-week online component, learners acquire the knowledge needed to apply and practice the requirements of agency, disclosure and drafting enforceable contracts. This component builds on the concepts introduced in the Licensing Course and provides learners with opportunities to assess and build on their competencies through the use of activities, quizzes, discussion forums and Gateway Assessments. This component is asynchronous and is facilitated by two experienced instructors.
• Component Two: This component of the course is facilitated over two days and is classroom based. Through the use of immersive role-play, learners practice and apply the knowledge acquired in component one. Videos, case studies and industry standard forms are resources used to enhance the learner’s overall knowledge of the core concepts of agency, disclosure and contracts. Learners should come prepared to actively participate in this engaging two-day intensive component. This component is offered over two days and is facilitated by two experienced instructors in the classroom.
• Component Three: This component consists of the completion of six practical field assignments over 4.5 months. Each assignment has clearly stated learning outcomes, instructions for completion, supporting resources and reflection questions. Learners must have received their temporary licence, as they are required to participate in activities requiring a real estate trading services licence in order to complete this component. This component is conducted in a brokerage setting and is supported by online resources. There is no instructor presence in this component of the course as learners are completing the assignments while working in a brokerage and under the supervision of their managing broker.
• Component Four: This final component of the course provides learners with a
•final in-class day to review agency, disclosure and contracts. Learners will also address future professional development to strengthen their skills. This final one-day classroom-based component is facilitated by an experienced instructor.
Once you have completed this final practical course you are good to go. Now you must interview some brokerages that you want to work for. You are basically interviewing them, as most brokerages will hire you just so they can collect your monthly office fees. And yes to be licensed you must work under a brokerage such as (Sutton, RE/MAX, MacDonald Realty, etc). All in all you’re looking at about 1-1.5 years worth of course work and exams to get your Vancouver real estate license.