Real Estate

Earn back buyer's real estate agent commission - Become an Agent. New Humber College Course is now live!

  • Last Updated:
  • Oct 2nd, 2019 10:18 pm
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Member
Jun 6, 2009
439 posts
49 upvotes
Thinking of doing this for personal/family use.

What are the options for the cheapest broker for this purpose? Located in Ontario (GTA)
Deal Guru
Jan 15, 2006
12460 posts
8636 upvotes
Richmond Hill
cleardevil wrote:
Jan 7th, 2019 5:36 pm
Thinking of doing this for personal/family use.

What are the options for the cheapest broker for this purpose? Located in Ontario (GTA)
How often would you be doing this?
Member
Jun 6, 2009
439 posts
49 upvotes
EP32k2 wrote:
Jan 7th, 2019 9:18 pm
How often would you be doing this?
I wouldn't expect it to be very often. Basically parents house, my own house, and probably only close friends.
Newbie
Jan 1, 2014
1 posts
Toronto
cleardevil wrote:
Jan 7th, 2019 5:36 pm
Thinking of doing this for personal/family use.

What are the options for the cheapest broker for this purpose? Located in Ontario (GTA)
I did it for exactly this purpose. I started with the courses in late March and got my RECO license and joined a brokerage early November. By a stroke of luck I had a friend looking to buy and agreed to have me represent him and my first sale will close on January 25th. Not sure when the next client will come along, but I really enjoy the first experience. Definitely NOT quitting my day job yet.

The brokerage I joined only has a small monthly fee and a very low per transaction fee, so even if I don't make another sale for several months, I'm not out a lot of money. PM me if you'd like more details about the brokerage I chose or about the process of taking the courses, getting the license etc. :)
Member
Jun 6, 2009
439 posts
49 upvotes
eviljuan wrote:
Jan 8th, 2019 8:51 am
I did it for exactly this purpose. I started with the courses in late March and got my RECO license and joined a brokerage early November. By a stroke of luck I had a friend looking to buy and agreed to have me represent him and my first sale will close on January 25th. Not sure when the next client will come along, but I really enjoy the first experience. Definitely NOT quitting my day job yet.

The brokerage I joined only has a small monthly fee and a very low per transaction fee, so even if I don't make another sale for several months, I'm not out a lot of money. PM me if you'd like more details about the brokerage I chose or about the process of taking the courses, getting the license etc. :)
I PM'd you but haven't heard back yet. Thanks!
Member
Oct 28, 2006
352 posts
129 upvotes
wanted to get advice from some of the people here. I failed the exam for course 3+4 twice and will have to redo the course. I currently only have 133 days left to finish the pre-registration segment. Do you think it is viable to complete it if I do all out? Recently had some family emergencies and a wedding so a lot of the studying was delayed. If I get to the last course and I am not able to complete it by the date, will they allow for an extension so I can finish it?

Thanks
[OP]
Deal Guru
Aug 2, 2010
14309 posts
4177 upvotes
Here 'n There
baller4lif3 wrote:
Jan 28th, 2019 3:44 pm
wanted to get advice from some of the people here. I failed the exam for course 3+4 twice and will have to redo the course. I currently only have 133 days left to finish the pre-registration segment. Do you think it is viable to complete it if I do all out? Recently had some family emergencies and a wedding so a lot of the studying was delayed. If I get to the last course and I am not able to complete it by the date, will they allow for an extension so I can finish it?

Thanks
Ask OREA, not here.
Member
Jul 10, 2018
477 posts
424 upvotes
Why do people find exam #3 so difficult? I have yet to write it but the textbooks don't seem to contain information that is more difficult than the previous two courses?
Member
Oct 28, 2006
352 posts
129 upvotes
TheSinner wrote:
Jan 28th, 2019 9:57 pm
Why do people find exam #3 so difficult? I have yet to write it but the textbooks don't seem to contain information that is more difficult than the previous two courses?
not sure about others but I felt the questions were super ambiguous. Also i didnt buy PASSIT so I will do that from now on to get more questions to practice. Also 2x as much material as the first 2 courses.
Member
Jul 10, 2018
477 posts
424 upvotes
baller4lif3 wrote:
Jan 29th, 2019 12:15 pm
not sure about others but I felt the questions were super ambiguous. Also i didnt buy PASSIT so I will do that from now on to get more questions to practice. Also 2x as much material as the first 2 courses.
Ive finished reading the textbooks and am doing the passit exams. I now see why this exam will be more difficult than the others if these practice exams are an accurate representation. You need to remember many small details about the forms/transaction because the right answer can't always be determined using logic or intuition. The rules are the rules. And I agree, that the questions are often more nuanced and ambiguous than in the previous course tests.
Sr. Member
Mar 9, 2014
637 posts
648 upvotes
Ottawa
TheSinner wrote:
Jan 28th, 2019 9:57 pm
Why do people find exam #3 so difficult? I have yet to write it but the textbooks don't seem to contain information that is more difficult than the previous two courses?
It's more material man. 2 books instead of 1. Also there are some memorizations regarding deposit, commission, bank accounts. I passed on first try but it's definitely not as easy as the first 2.
Jr. Member
Sep 7, 2007
114 posts
34 upvotes
BC
I was advised that error and omissions insurance doesnt cover when an agent sell his/her own property. Can anyone share their experience on this? Ty
Jr. Member
Sep 7, 2007
114 posts
34 upvotes
BC
lateshopper wrote:
Mar 9th, 2019 4:17 pm
I was advised that error and omissions insurance doesnt cover when an agent sell his/her own property. Can anyone share their experience on this? Ty
However, you can ask another agent in your brokerage to be your seller agent and be covered under E&O and split some commission with him/her.

Can anyone share if you sold ur own property or ask another agent to be list ur property? 8f option2, how much commissiondid u split with him/her? Ty
Jr. Member
Nov 10, 2014
136 posts
108 upvotes
Ottawa, ON
Thanks OP for creating this thread, its super helpful.

I don't have any pressing needs for the license yet, but I am thinking of completing the courses before the upcoming program change. I will need/want it down the road for when my parents and in laws decide to downsize, and when I offload my investment properties.

Can I get licensed, give up the license for a few years to save on the licensing/ brokerage fees, and get it back for years where I plan on being active?

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