Trading Services (Sales) Licensing
This step-by-step licensing guide gives you an overview of the education and training required to become licensed to conduct trading services in BC. Make sure you also read the Real Estate as a Career webpage, which gives you important information about the real estate industry, the Council’s licensing and education requirements, Course Exemptions/Challenges, and an outline of anticipated expenses and budget items.
Please note: this step-by-step licensing guide details the process for licence applications beginning in January 2015, following the introduction of the new Residential Trading Services Applied Practice Course. For further information on the changes to the Trading Services Applied Practice Courses, please read our FAQ. For information on the current licensing requirements, please contact the Council’s Education department at email@example.com.
For information on Applied Practice course offerings available now through November 30, 2014, please visit the BCREA website or contact firstname.lastname@example.org.
Step-by-Step Licensing Guide
- Do You Meet the Good Reputation Guidelines?
Make sure you are familiar with the Council’s Good Reputation Guidelines. If you are concerned about whether you satisfy these requirements, you should submit an Application for Pre-Screening form to the Council before registering in the Real Estate Trading Services Licensing Course. The Council will consider your application and determine whether you are eligible for licensing in BC (subject to your passing the licensing course and examination).
All applicants must submit an original criminal record check to the Council along with their licence application. (See Step 3 below for details). Please read all information regarding the criminal record check to ensure you comply with the specific requirements for licensing with the Real Estate Council.
- How to Satisfy the Language Proficiency Requirement
Before you can register to write the licensing exam, you must demonstrate that you meet the minimum English language requirements.
Please take steps to ensure that you satisfy these requirements before registering in the licensing course. Find out more about the Language Proficiency Requirement.
The Real Estate Trading Services Licensing Course is offered by the University of British Columbia, Sauder School of Business (Real Estate Division). You can register at any time during the year for this self-paced blended learning course. For course information and to register online, please visit the UBC Real Estate Division’s Real Estate Trading Services Licensing Course webpage.
You must complete all course assignments within one year of registering. The course assignments take a minimum of 10 weeks to complete.
If you feel that you have previous education or experience that may exempt you from either the Licensing Course or Examination, please review the Council’s Education and Licensing FAQ and/or the Education Waivers and Guidelines.
IMPORTANT NOTE ABOUT EXTERNAL TUTORS/LECTURES
Students are encouraged to take advantage of the tutorial assistance and lectures provided with their Trading Services Licensing Course rather than spending additional money on external tutors/lectures.
The Real Estate Council and UBC Real Estate Division are not affiliated with any external tutorial classes. These services are not monitored and the Real Estate Council and UBC Real Estate Division cannot be responsible for any information provided by these individuals or companies. External tutorial companies regularly make false claims, such as “only 30% of students pass the exam” or “we’ll guarantee that you will pass the exam” so that you will spend your money with them. Remember, there are no guarantees and the UBC Real Estate Division works with all students to provide every opportunity for success.
In order to avoid unnecessary delays in licensing you are encouraged to obtain a criminal record check and make arrangements with a brokerage for employment before you begin the Applied Practice Course.
You must submit an original criminal record check completed within the previous 90 days along with your licence application to the Council. This licence application must be submitted promptly during the two-week break between the pre- and post-licensing components of the Applied PracticeCcourse (see Step 4 for further details on the required elements of the licensing application).
After you have successfully completed the Real Estate Trading Services Licensing Examination, you must register in either the Residential Trading Services Applied Practice Course or the Commercial Trading Services Applied Practice Course delivered by the British Columbia Real Estate Association (BCREA).
The Applied Practice Courses build on the technical knowledge provided in the Real Estate Licensing Course, giving you further opportunities to practice the skills you’ll need most as a real estate professional. Visit the BCREA website for full information and to register.
The Applied Practice Courses have four components: the first two components must be completed before you are eligible to receive your trading services licence, and the final two components are completed after licensing. You must complete the entire Applied Practice Course, or your licence will be revoked.
As soon as you have successfully completed Components One and Two of the Applied Practice Course, you must apply to the Council for your licence. Please make sure your application includes ALL of the following:
- An original criminal record check from your local police agency. This must be submitted along with your licence application to the Council. Click here for detailed information.
- A completed Application for Representative, Associate or Managing Broker Licence form.
- The appropriate licensing fee. Click here for information about licensing fees.
Mail or courier your completed application, criminal record check, and payment to: Real Estate Council of British Columbia, 900-750 West Pender Street | Vancouver, BC Canada | V6C 2T8
Please send your application, including all original documents (no photocopies or scans) in one package by mail or courier. Do not email or fax your application.
Once you have received your licence, you must complete Components Three and Four of the Trading Services Applied Practice Course.
You will have 4.5 months in which to complete and submit a number of practical field assignments under the supervision of the managing broker at your related brokerage, or his/her delegate. The final component of the Trading Service Applied Practice Course is a full day in-class session to review your learning.
If you do not complete the entire Applied Practice Course, your licence will be terminated.
Talk to Brokerages: Your application for licensing must be signed by the managing broker of the brokerage you will be joining. The Council recommends that you begin meeting with brokerages while you are taking the Licensing Course, to find the brokerage that is the best fit for you.
One Year Time Limit: You must apply for licensing within one year of the date on which you successfully completed the licensing examination. If more than one year has elapsed, you will be required to re-write the examination and/or re-complete the Real Estate Trading Services Licensing Course. No exceptions.
Relicensing Education Program: Once licensed, you will be required to complete a continuing education course during each two-year licence period. This Relicensing Education Program (REP) requirement is a condition of continued licensing. For further information, please see the REP page.
Budget: Before you make the commitment to becoming licensed, you may wish to consider some of the costs involved, and develop a budget to ensure you will be able to meet them. Expenses include, but are not limited to:
- Real Estate Trading Services Licensing Course Fee.
- HP 10BII financial calculator – Available from office supply stores (prices vary $65-$75) or directly from the UBC Real Estate Division for $43.75.
- LPI examination (if required) – $109 + tax in BC, $135 + tax outside of BC and 160 + tax in Hong Kong.
- Licensing fees (includes 2-year licensing fee, Errors & Omissions Insurance and Compensation Fund Corporation assessment)
- Residential or Commercial Trading Services Applied Practice Course Fee.
- Criminal record check – costs vary depending on police agency.
- Real Estate Board fees – Fees vary from board to board.
- Additional costs for consideration: brokerage desk fees, transaction fees, business cards, signs, advertising, smart phone, computer, printer, scanner, website, internet access, car lease and business car insurance, business clothing, etc.
- 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. Make sure you have sufficient capital available to support yourself if your personal goals are not met as soon as you would like.