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realestatefee

REAL ESTATE FEE

Humber's New Real Estate Salesperson Program
After 60 years of OREA College delivering Real Estate education through their courses, in 2019, The Real Estate Council of Ontario (RECO) has partnered up with Humber College and NIIT to offer a new Real Estate Program. As a result of this, as of April 2019, OREA will not be accepting any new applicants and those who have not completed their OREA courses by November 2020 will have to restart their courses.

The Real Estate Salesperson Program launched on July 1st, 2019 and covers the fundamentals as well as the rules that should be followed in the industry, providing a mix of theory and practical application in order to effectively prepare students for day 1 of their profession. This program is convenient for those with different commitments as the majority of the coursework is delivered online. Students will only have to meet in person for exams and simulation sessions. Upon acceptance, students will be able to work through the courses at their own pace until completion, however, all courses should be completed within two years.

What are the admission requirements?
Applicants must have obtained their Secondary School diploma, GED certificate or have an acceptable equivalent credential. Those who do not have a Secondary School diploma or a GED certificate can provide acceptable equivalent credits.

Why the transition?
The change in the institute for the Real Estate program delivery allows for OREA to shift their focus and to strengthen their core member services. As Humber College has gained a strong reputation and has built strong connections within the community, RECO has seen this as an opportunity to partner up with them to continue their impact and redesign the important aspects of real estate to effectively prepare students for the industry. To see the benefits or get more details about this program, please click here.
 
Pre-Registration Phase
This is the first phase of the Real Estate Council of Ontario’s Real Estate Education Programs. This phase should be completed prior to registration with RECO. Students will have 2 years to complete the courses and exam in this phase.

Humber College Pre-Registration Real Estate Course Fees
The chart below outlines the fees for the first phase of the Real Estate Sales Person Program associated with becoming a Realtor® 
 

Description Cost Frequency Notes

Course #1: Real Estate Essentials (E-learning)

$525 One-Time Only Mandatory to be licensed

EXAM 1: Invigilated Theory Exam (In person)

$100 One-Time Only Mandatory to be licensed
Course #2: Residential Real Estate Transactions (E-learning) $595 One-Time Only Mandatory to be licensed

Facilitated Review Session with in-class support (add-on option)
Facilitated Review Session with virtual support (add-on option)

$280
$280
One-Time Only
One-Time Only
Optional
Optional

EXAM 2: Invigilated Theory Exam (In person)

$100 One-Time Only Mandatory to be licensed
Course #3: Additional Residental Real Estate Transactions (E-learning) $315 One-Time Only Mandatory to be licensed

Facilitated Review Session with In-Class Support (Add-on Option)
Facilitated Review Session with Virtual Support (Add-on Option)

$120
$120
One-Time Only
One-Time Only
Optional
Optional

EXAM 3: Invigilated Theory Exam (In person)

$100 One-Time Only Mandatory to be licensed

Simulation Session 1: Residential Real Estate Transactions (In person)

$750 One-Time Only Optional
Course #4: Commercial Real Estate Transactions (E-learning) $315 One-Time Only Mandatory to be licensed

Facilitated Review Session with In-Class Support (Add-on Option)
Facilitated Review Session with Virtual Support (Add-on Option)

$160
$160
One-Time Only
One-Time Only
Optional
Optional

EXAM 4: Invigilated Theory Exam (In person)

$100 One-Time Only Mandatory to be licensed

Simulation Session 2: Commercial Real Estate Transactions (In Person)

$600 One-Time Only Optional
Course #5: Getting Started $90 One-Time Only Mandatory to be licensed

*These fees are approximate and are subject to change, please check with Humber College for accurate membership costs

Humber College Post Registration Real Estate Course Fees
The chart below outlines the fees for the second phase of the Real Estate Salesperson Program. These courses are required to be taken after the 2 year cycle after being registered with the Real Estate Council of Ontario (RECO).
 

Description Cost Frequency Notes
Compliance (E-learning) $300   Required to Renew RECO License
Wrap-up Session: Post-Registration Practice
(Can be taken upon completion of electives)
$200   Required to Renew RECO Licence
Course electives (Select any 2 of the 5 following electives)
Working in Real Estate:
Rural, Recreational, Waterfront Properties (E-learning)
$135   If Selected, Required to Renew RECO License
Working in Real Estate:
Ownership Alternative and Complexities (E-learning)
$135   If Selected, Required to Renew RECO License
Real Estate as an Investment Strategy:
Residential Properties
$135   If Selected, Required to Renew RECO License

Real Estate as an Investment Strategy:

Commercial Properties Fundamentals (E-learning)

$135   If Selected, Required to Renew RECO license

Real Estate as an Investment Strategy:

Commercial Properties Fundamentals (E-learning)

$135   If Selected, Required to Renew RECO license

*These fees are approximate and are subject to change, please check with Humber College for accurate membership costs

OREA Course Fees

 Description Cost Frequency Notes
OREA College Course 1
-Real Estate as a Professional Career
$575 One-Time Only Mandatory to be Licensed
OREA College Course 2
-Land Structures and Real Estate Trading 
$600 One-Time Only Mandatory to be Licensed
OREA College Course 3
-The Real Estate Transaction *General*
$450 One-Time Only Mandatory to be Licensed
OREA College Course 4
- The Residential Real Estate Transaction
$450 One-Time Only Mandatory to be Licensed
OREA College Course 5
- The Commercial Real Estate Transaction
$450 One-Time Only Mandatory to be Licensed
OREA College Course 6
- Real Property Law
$550 One-Time Only Mandatory to beLicensed
 

*These fees are approximate and are subject to change, please check with OREA for accurate membership costs
 

Practicing Fees
The chart below outlines the fees associated with practicing Real Estate. 

RECO (REAL ESTATE COUNCIL OF ONTARIO) & TREB (TORONTO REAL ESTATE BOARD) FEES

Description Cost Frequency Notes

RECO Licensing Fee

$590 Every 2 Years Mandatory to be Licensed

TREB Courses: Orientation & MLS 

Free One-Time Only Mandatory to Join TREB
LICENSING FEES

TREB Registration 

$460 One-Time Only  

CREA/OREA Registration

$400 One-Time Only  

TREB Membership

$859.65 (incl. HST) Renewed Annually Renewed Annually on July 1st

CREA/OREA Fees

$474.60 (incl. HST) Renewed Annually Renewed Annually on January 1st
PRACTICING FEES

E & O Insurance

$445 (incl. HST) Annually Includes Deposit Protection and Commission Protection Plan 

*These fees are approximate and are subject to change, please check with TREB and RECO for accurate membership

 

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