Real Estate

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

  • Last Updated:
  • Oct 25th, 2020 7:42 pm
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Deal Addict
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Mar 28, 2004
4288 posts
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What is the ABSOLUTE fastest way someone can become a licensed agent?
Deal Addict
Mar 27, 2004
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Toronto
How are exams taking place right now/ just curious.
Full-time Realtor
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Mar 2, 2017
314 posts
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Markham
They aren't. I need to do an elective for OREA, called to ask if I enroll in a course now and set my exam date if it will be honoured, they said no it will be cancelled even though they will allow you to sign up and pay for the course lol.

Apparently they are working on a solution to allow people to take the examinations at home, I am waiting on more details right now.
Realtor, Investor, CPA
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Dec 11, 2005
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RichmondCA wrote: They aren't. I need to do an elective for OREA, called to ask if I enroll in a course now and set my exam date if it will be honoured, they said no it will be cancelled even though they will allow you to sign up and pay for the course lol.

Apparently they are working on a solution to allow people to take the examinations at home, I am waiting on more details right now.
oasis100 wrote: How are exams taking place right now/ just curious.
They already started proctoring online exams and hundreds have already started taking exams via webcam - this is not for OREA but the humber version of it.
Achieva Financial /KOHO / STACK (0% FX Fee) /Tangerine / EQ Bank member / I use Plastiq for paying bills with my CC

"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
Newbie
Jun 29, 2009
1 posts
Brampton
Hey question. So I am looking to sign up and follow through with this course as you but I was worried it was slow and take two years. I am very much willing to study and push through the work. I see you said you can finish it in 6 to 7 months. So does that mean they aren't really time enforced. Is it a do at your own pace per segment? I want to push through it. Thx
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Jun 3, 2019
155 posts
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GTA
DhavoG wrote: Hi,

Thank you for such an informative forum, it has certainly encouraged me to become a realtor. My intention to become realtor to not pay a commission while transacting for self, friends & family (hence part-timer).

However, I have one query and I know the perfect answer might only be provided by the company's HR but still checking if anybody knows about it.

I currently work full-time in bank treasury (and intend to continue), I wanted to check if I can become a Realtor or if there is any conflict of interest issue and might not be able to.

Thanks in advance.
DG
Hi DhavoG, if you are an employee of a financial institution, regardless of position, you will be in violation of their conflict of interest policies and they will end your employment when they find out. On your real estate application to RECO (Real Estate Council Ontario) there is a question that asks if you are also employed in any other capacity. Lying on this question will most certainly get you in trouble with our regulator.
Realtor® & Mortgage Agent
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Jun 3, 2019
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GTA
If anyone is going through the Humber course or has graduated the OREA course and would like to become an agent but haven't decided which brokerage to choose, I will give you something to consider. I know the two most common questions are - what is the commission split and are there any monthly fees. Before I get to that, I will tell you what question you should be asking.

How will your brokerage help me to succeed as a real estate agent?

I was in your shoes a year and a half ago and I did what a lot of agents did after course completion. I signed up with a brokerage that had zero monthly fees and a reasonable commission, actually their plan was very simple. It was $795 for every buy or sell deal, that's it no other fees, great I thought! But it was also 'Welcome to the brokerage and if you need any assistance, send us an email'. Hmmm, now deal paperwork and documents were not too difficult, but where do I find clients? I literally did nothing my first 9 months, so was it really a great brokerage?
I've changed brokerages and since then I have now done 150k in commission income the last 9 months. In my opinion I don't even think that achievement was great, there are top producers out there doing 1mil or more a year. That's what I strive for but more importantly I've learned how to be a successful agent.
*
Last edited by MrDisco on Jun 7th, 2020 10:07 pm, edited 1 time in total.
Reason: no soliciting.
Realtor® & Mortgage Agent
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Dec 11, 2005
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oasis100 wrote: report it as a business expense. You should actually get more money back in return reporting it this way.
Hi Oasis, for that to happen, one would either need a TAX ID and setup LLC or sole prop entity I assume but for new students/RE Agents, there is no income to write off against business expense unless I misunderstood.
Achieva Financial /KOHO / STACK (0% FX Fee) /Tangerine / EQ Bank member / I use Plastiq for paying bills with my CC

"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
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Mar 27, 2004
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Toronto
TorontoEh wrote: Hi Oasis, for that to happen, one would either need a TAX ID and setup LLC or sole prop entity I assume but for new students/RE Agents, there is no income to write off against business expense unless I misunderstood.
Register for an HST number once you are registered. and then expense the courses.
Full-time Realtor
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oasis100 wrote: Register for an HST number once you are registered. and then expense the courses.
Many thanks Oasis.
Achieva Financial /KOHO / STACK (0% FX Fee) /Tangerine / EQ Bank member / I use Plastiq for paying bills with my CC

"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
Jr. Member
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Jun 3, 2019
155 posts
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GTA
licenced wrote: *
Hi licenced - you speak the truth, this is exactly what a new agent should be doing 'asking how their brokerage is going to help them succeed'. This is a very selfish industry. You can either starve for deals, pay someone to mentor you or learn on your own (school of hard knocks). We know there are 53K+ agents registered with TREB, of which 24k+ did no deals in 2019. Another 20k+ did one to six deals last year. The top 10% are the ones bringing home the bacon.

I did not have connections, if I did I wouldn't have done nothing for the first nine months. And yes, my results are totally achievable because I did it.

*

All I am saying is that I was one of those that struggled, until I took it upon myself to do something about it. I took a leap of faith to pay for mentoring, because if you want to succeed why would you not learn from someone who is already doing it.

One other thing I should mention, if anyone got the impression that I did what I did easily, let me tell you now it wasn't. *
Last edited by MrDisco on Jun 7th, 2020 10:16 pm, edited 2 times in total.
Reason: no soliciting
Realtor® & Mortgage Agent
Sr. Member
Aug 29, 2008
690 posts
44 upvotes
Toronto
I just took my first first exam, and I passed it with 91% Yay! I was freaking out because I was getting 50-70% on Passit after doing about 200-300 MC questions (40 at a time) but thank god the Humber test was easier.
For those wondering whether Passit is worth the expense, 100%, it taught me a lot of things I didn't know because I went through the modules too quick or studied way too long before the test and forgot a lot. If you took your notes and are organized, maybe not so much, who knows.

Now, I do want to get this license in 3 months if possible, I have a lot of potential clients. I went to University, i have quick study skills if you can call it that, however every-time I register a course, the next day I book the test and it throws me a date in 30+ days usually about 36 days (booking for mid July right now). Is this COVID situation or is it like this for every single course? 5 courses will take me 5-6 months at full efficiency of booking exams even if booking exams before reading the course slides . Any way around this would be much appreciated.
Member
Oct 21, 2013
264 posts
105 upvotes
waterloo, on
Whats your source for this information ?



trebmember wrote: Hi DhavoG, if you are an employee of a financial institution, regardless of position, you will be in violation of their conflict of interest policies and they will end your employment when they find out. On your real estate application to RECO (Real Estate Council Ontario) there is a question that asks if you are also employed in any other capacity. Lying on this question will most certainly get you in trouble with our regulator.
Royal LePage Realtor
Sr. Member
Apr 26, 2007
631 posts
59 upvotes
@eonibm @trebmember Thanks for sharing your experiences. One question. Can you please share your input on what if I am registered with a brokerage in gta but want to sell a property in some other city of Ontario outside of the gta. How will the listing work in that case?
Thank my post if it helped!

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