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Real Estate as a Career

Is this the Right Career for you?

Your decision to undertake a career in real estate, as with the choice of any vocation, merits very careful consideration. It is a field in which you may easily misjudge your future. Each year many individuals expend time, effort and money to enter the real estate vocation only to discover that they cannot complete the required licensing course and examination or, having done so, that they are unsuited to the work.

Being of Good Reputation

The Real Estate Services Act requires that applicants for a licence shall be of "good reputation". Following application for a licence to the Real Estate Council, the applicant is investigated. (The Real Estate Council is the licensing and regulatory agency established by the provincial government to administer the Real Estate Services Act.) General business and personal reputation are reviewed along with criminal convictions and charges, which must be disclosed, including any where conditional or absolute discharges were granted. Current policy is that these are not necessarily a bar to registration, depending upon circumstances and recent record.

Age Requirement

To be eligible for real estate licensing in the province of British Columbia, section 10(b)(i) of the Real Estate Services Act requires that an applicant for licensing is at least 19 years of age. Individuals who are interested in pursuing a career in real estate who are not yet 19 should keep in mind that the applicable licensing course and examination may be completed prior to the age of 19 and that individuals have up to one year from the date of passing a licensing exam to apply for licensing. As a result, individuals who do not yet meet the age requirement may wish to plan courses and examinations accordingly.

Income and Expenses

The type of compensation structure you receive will depend on which real estate specialty you select. If your compensation structure is commission based, it means that that you will have little or no guarantee of income level. While predicting income is difficult, your earnings could be affected by your sales ability, people skills and hard work, or by the market conditions, property area, property type and the commission structure. You should also take into account the cost as well as the time needed to establish a practice and to build up an income to meet your personal requirements. Therefore, you should have sufficient capital available to support yourself if your personal goals are not met as soon as you would like.

Making a commitment to a career in real estate also includes a number of financial considerations. Licensing course fees, licensing fees, Real Estate Board membership fees, brokerage fees and a number of business related expenses(cell phone, computer, etc.) are just a few of the expenses that need to be considered.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.