Ans: Currently the minimum cost is $3,590 to complete the educational requirements to become registered as a real estate salesperson in Ontario. As of January 1, 2023, Humber College will increase the fees to $ 4,110. After completion of the education component, you must consider the following start-up costs:
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RECO Registration Application: $590 ($390 + $200 application review fee)
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RECO Insurance Fee: $ 500
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Costs to Join Organized Real Estate (e.g., local real estate board, OREA, CREA). These fees will vary by area and are subject to change.
Current fees if you elect to join the Toronto Regional Real Estate Board, as an example, would be:
Entrance Fee (One-Time): $460 Membership (Annual): $680 OREA & CREA Entrance Fees (One-Time): $400 OREA and CREA Membership (Annual): $420
The above fees are subject to HST.
• Additional costs to consider: advertising, phone, car, computer, signage, website development, etc.