Because A Great Experience Begins With A Great Agent

REALTOR® Licensing and Costs

 

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LICENSING AND COSTS

It is important to do your homework to ensure you fully understand the licensing requirements and costs involved in starting a real estate career in Calgary and surrounding areas. The more prepared you are from the start, the better set you will be for a successful career.


Steps to getting your real estate licence:

1. Determine suitability

If anything from your past could prevent you from becoming licensed, you may request a Suitability Review from RECA.

2. Complete RECA’s online eligibility process. To meet eligibility requirements, you must:
– Be at least 18 years of age
– Hold the equivalent of a Canadian high school diploma or higher (transcripts required)
– Be proficient in English
– Be able to lawfully study and work in Canada
– Have completed the free, online Real Estate Career Information Session

3. Complete the online pre-licensing education (REAP):
– Fundamentals of Real Estate
– Choose your area(s) of practice and determine the additional courses you need to complete (Residential, Commercial, Rural, Property Management)

4. Provide a Certified Criminal Record Check with fingerprinting and Third Party Waiver (direct to RECA from RCMP)

5. Obtain employment with a brokerage

6. Complete the licensing and registration process with RECA and your broker

7. Complete the CREB® orientation and sign up for membership

RECA oversees the licensing requirements in Alberta. For more information, go to www.reca.ca.


 

Below are the CREB® fees for 2016 [excluding GST, some fees maybe pro-rated]:

In addition to the costs outlined below, there is no guarantee when you will complete your first transaction. Some Realtors take only a month or two, others can take up to six months or more. Typically a Realtor should plan for four-to-six months without income and budget for $2,000 for the basic materials needed to get started.

Note: Many people have great success early in their career. CIR REALTY will provide you with the guidance, training, and resources you need to dramatically increase the probability of success in your real estate career.

If you are looking to become a Realtor in RED DEER, click here for information on joining the Central Alberta Real Estate Association (CARA).

 

RECA – Pre-Licensing Fees
Education Eligibility
$100.00

Fingerprinting
$75.00 (approx.)

RCMP Processing fee for CCRC
$25.00

 

RECA – Pre-licensing Education
REAP – Fundamentals of Real Estate
$1400.00

REAP – Practice of Residential Real Estate
$850.00

Optional – Practice of Commercial
$850.00

Optional – Practice of Rural
$850.00

Note: Exam proctoring and rewrite fees may also apply.

 

RECA – Licensing Fees
RECA Licensing Fees
$475.00

REIX Premium
$275.00

Assurance Fund
$100.00

 

CREB® New Membership Fees
Entry Fee
$650.00

Annual Dues
$434.00

Mandatory Training
$55.00

Critical Illness Benefit Society (CIBS)
$45.00

Charitable Foundation
$45.00

Realtor and Family Assistance Program
$24.00

AREA Initiation Fee
$400.00

AREA Annual Dues
$375.00

CREA Initiation Fee
$200.00

CREA Annual Dues
$246.00

CREA Technology Levy
$64.00

 


Total cost of getting started (not including tax)
$5,838.00


Total including optional education (not including tax)
$7,538.00



 

Other Deposits and Monthly Fees
MLS Monthly Service Fee
$65.00

Supra – Active Key Monthly Service Fee
$25.00

Supra – Active Key Deposit
$50.00

 

~ Various fees are GST applicable ~

Please contact us directly if you have any questions in addition to the information supplied.

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