Trading Services (Sales) Licensing
Your decision to undertake a career in real estate merits very careful consideration. Before you review the following steps on how to become licensed to sell real estate in BC, please review the Real Estate Council of British Columbia’s Real Estate as a Career information. This information describes and explains the various sectors of the real estate industry, the Council’s Good Reputation Guidelines, Age Requirement, Pre-screening, Budget and Expenses, Levels and Categories of Licence, Choosing a Real Estate Brokerage, Interprovincial Licensing, Course Exemptions/Challenges and the Council’s continuing education program.
Prior to registering in the Real Estate Trading Services Licensing Course, individuals should familiarize themselves with the Council’s Good Reputation Guidelines. Applicants who have some concern about whether or not they satisfy the requirements of being of “good reputation” should, prior to registering for the Real Estate Trading Services Licensing Course, submit an Application for Pre-Screening form. An advance decision may thus be obtained as to the applicant’s suitability for licensing, subject to passing the course and examination.
Note: At the time of making licence application, you will be required to submit an original criminal record check along with your licence application to the Council. See step 4 below for details. Please ensure to read all information regarding the criminal record check which is specific for licensing with the Real Estate Council.
The Real Estate Trading Services Licensing Course is offered by the University of British Columbia, Sauder School of Business (Real Estate Division). This blended learning course allows you to register at any time. While the course is flexible in order to meet the needs of busy adult learners, it provides just enough structure to ensure high quality learning. You must complete all course assignments within one year of registration in the course and also pass a final examination. On average, most individuals complete the course and exam within six months, based on completing one assignment a week and usually spending 10 – 12 hours per assignment. The course covers a variety of real estate, legal, finance and valuation topics and for detailed information you can view the Table of Contents.
The following student support services are included in the course tuition fee:
- Tutorial assistance from course specialists, through a toll-free number and email.
- Face-to-face and online lectures/workshops, designed to assist you in learning the concepts covered in the course manual. Attend optional classroom lectures, or access the video and audio recordings at any time. Classroom lecture series start in January, April and September, and lead up to regularly scheduled exams.
- Online course resources, containing course updates, study materials, schedules, discussion forums, and tutorial information.
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. It is important to note that the Real Estate Council and UBC Real Estate Division have no ties with tutorial classes provided by other members or organizations of the real estate industry and do not monitor or check the services they provide. Therefore, 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 Real Estate Division works with all students to provide every opportunity for success.
For more course information and online course registration, please visit the UBC Real Estate Division’s Real Estate Trading Services Licensing Course webpage.
If you feel that you have previous education or experience that would exempt you from either the Licensing Course or Examination, please review the Council’s Education Exemption Guidelines.
Prior to registering for the Real Estate Trading Services Licensing Course Examination, individuals must satisfy the Language Proficiency Requirement.
When you have successfully completed the Real Estate Trading Services Licensing Course and examination, prior to making application for licensing, you must register in the Residential Trading Services Applied Practice Course or the Commercial Trading Services Applied Practice Course delivered by the BC Real Estate Association. Once licensed, individuals have six (6) months to complete this five day in-class course. This course is a requirement of licensing and failure to complete the course will result in licence termination.
You are required to obtain an original criminal record check from your local police agency and submit it along with your licence application to the Council. Click here for detailed information.
Once you have registered in the applicable Applied Practice Course and received your original criminal record check, you may apply to the Real Estate Council of British Columbia for licensing as a representative licensed to provide trading services (sales) by completing the Application for Representative, Associate or Managing Broker Licence form.
**Please forward all original documents in one package to the Council office via mail or courier. Please do not email or fax your initial application as the original criminal record check is required.**
Section 10(b)(i) of the Real Estate Services Act requires real estate licence applicants to be at least 19 years of age.
When applying for licensing, individuals must have their intended brokerage sign the application for licensing. It is recommended that while individuals are taking the Real Estate Trading Services Licensing Course they meet with potential employers.
Should more than one year elapse from the time you pass the licensing exam until a licence application is submitted by you, you will be required to pass the exam again. No exceptions.
Once an individual has completed the steps noted above, they will be licensed as a representative licensed to provide trading services.
Relicensing Education Program
The Relicensing Education Program (REP) requires licensees to complete a course during each two-year licence period as a condition of continued licensing. For further information, please see the REP page.
Making a commitment to becoming licensed to provide trading services also includes (but is not limited to) the following financial considerations.
- 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. Therefore, you should have sufficient capital available to support yourself if your personal goals are not met as soon as you would like.