We have just unveiled an updated course for real estate salespersons interested in becoming brokers.
Developed in conjunction with the Real Estate Council of Ontario (RECO), the new version of the Real Estate Broker Course provides relevant, up-to-date information about the real estate industry. You will learn how to establish, operate, and manage a real estate brokerage, and will acquire the requisite knowledge and skills required to be successful brokers. In fact, this course is of value even if you do not want to operate your own brokerage.
The course textbook is designed to engage you in real-world learning, and features:
- active learning exercises
- numerous illustrations to simplify complex topics
- multiple choice questions after each chapter to test your comprehension
- practical checklists on how to set up a brokerage
- an updated accounting section to reflect new standards
- extensive references to the Real Estate and Business Brokers Act, 2002
- actual case studies
With updated sections and content, this course is also of value if you already operate your own brokerage. In fact, each course chapter follows the logical progression from initial brokerage registration to advanced planning and long-term viability.
You will learn about the role of the real estate brokerage in today’s market and the brokerage master plan checklist, which includes information on how to:
- register a brokerage
- enforce standards as the broker of record
- establish employment policies and procedures
- comply with employment standards and statutory requirements
- build the general record system
- understand accounting fundamentals
- analyze financial statements
- develop basic business plans and budgets
- develop advanced business plans for long-term viability
- oversee trade processing and the real estate trust account
- handling remuneration-related negotiations and disputes
- ensure advertising and business compliance
- maintain brokerage standards
The updated textbook also includes the Real Estate and Business Brokers Act, 2002.
As with all College programs, course information is presented through specified learning outcomes, which highlight the knowledge and skills you will gain after you complete the course.
Each chapter contains learning outcomes. For example, at the end of Chapter 1, The Real Estate Brokerage in Today’s Market, you will be able to:
- identify key risks and factors impacting brokerage profitability, with particular reference to commission splits/desk fees and technology
- identify and discuss notable opportunities and associated business realities when opening a new brokerage
- describe strategic planning basics and associated components, including vision, mission statement, strategic plan (including core competencies and competitive advantages), strategic directions and action plans
- outline three common brokerage growth options including market development, service enhancements and diversification
This is not an exhaustive list.
You decide how you want to learn based on your learning style and lifestyle. The College offers this 60-hour course in the classroom, or a combination of distance learning (correspondence or e-Learning), followed by 40 hours of classroom instruction.
To be eligible to enrol in this course, you must have successfully completed the Salesperson Registration Education Program (Pre-registration and Articling segments), and one additional elective.
For information about the updated Real Estate Broker Course, including dates and locations and to register, contact the OREA Real Estate College toll free at: 1-866-411-6732 or 416-391-6732.