Have you ever noticed all the homes being bought and sold in your community and thought about what it might be like to become a real estate agent in BC? Were you ever curious to know just how much money the real estate agents were making on each of those sales?
To give you an idea, with only a two percent commission on the current average cost of a home in BC ($940,000) that would be $18,800. Even with taxes, advertising costs and brokerage fees applied to each commission, if an agent is selling one home on average per month, they are bringing in a pretty decent yearly income.
Do you ever wish you were making that kind of money? How could that money change your life?
If you were to become a BC real estate agent, you could turn that dream into a reality. There is the potential for you to make a LOT of money as a licensed real estate agent. But there is a caveat. You have to be willing and able to do the work.
There is no magic bullet. No easy way. No shortcut.
It requires hard work to become a real estate professional. To be successful, just some of the work you will need to do includes:
- getting licensed
- finding the brokerage and niche that best suits your skills and knowledge
- building a sterling reputation for being a knowledgeable and trustworthy agent
- building a high-quality network of related professionals and satisfied clients
- properly marketing yourself and your listings
- putting in the time and legwork to be the best at what you do!
So how do you become a real estate agent in British Columbia?
You start by getting your Real Estate Licence.
Getting licensed takes time, money and dedication. With that in mind, before you commit you want to be REALLY sure that becoming a real estate agent is the right path for you.
In this article we are going to share a step-by-step list that will walk you through the licensing process, so you have an idea of what is involved to become a real estate agent in BC.
Before Registering for the Real Estate Trading Services Licensing Course
There are several factors you will need to consider and requirements you will want to ensure you meet, before spending your time and money to register for the UBC Real Estate course.
If you fail to meet or take into consideration any of these four requirements, you will NOT be able to successfully be licensed as a real estate agent in BC.
STEP 1: Eligibility to Work in Canada
You must be eligible to work in Canada in order to apply for your licence in BC as a real estate professional.
If you are not a Canadian citizen or a Permanent resident of Canada, then you will need to ensure that there are no restrictions on your visa that would not allow you to engage in trading in real estate in BC. If you are uncertain if you are affected by such restrictions, you should seek professional legal help.
STEP 2: English Language Proficiency Requirement (ELPR)
Clear, concise, professional communication is a vital part of being successful in the real estate industry. It is one of the most important skills you can have as a real estate agent.
All communication by a real estate professional with clients and other industry professionals needs to be business-like in nature while also being easy to understand whether it is in person, over the phone, in a text or email or when reading and writing legal contracts. It is therefore vital that you have a high level of competence and skill in the English language.
As such, you will need to either write the Canadian English Language Proficiency Test (CELPIP) – General Test or be granted an exemption if you:
- hold a conferred Bachelor’s degree or higher degree (e.g., Master’s degree) from an accredited university, college or technical institute at which English is the primary language of instruction; or
- have been licensed for real estate services in another Canadian jurisdiction with English language standards and have satisfied that jurisdiction’s English language requirements.
To be clear, you CANNOT get an exemption by using
- a high school graduation
- undergraduate courses
- Associate degrees, diploma or certificate programs (including post-graduate diploma or certificate programs)
- other language proficiency tests
Once you have taken the test, it is valid for two years from the date you took it. If you are not licensed within the two years, you will need to take the test again.
This is a requirement you will want to address either before you begin the course or shortly after starting as you must have your ELPR satisfied in order to book and write the licensing exam.
STEP 3: Good Reputation, Suitability, and Fitness Requirements
The BC Financial Services Authority (“BCFSA”) places great importance on future and existing licensees to meet their Good Reputation, Suitability, and Fitness requirements. While this may seem like just another box to check in a long list to becoming a licensed real estate agent in BC, it is a requirement that anyone wishing to be successful in the real estate industry should take seriously.
In addition to the fact that you must convince the Superintendent of Real Estate you meet the requirements as required in the Real Estate Services Act (British Columbia)…
Sections 10(a) and (d) of the Real Estate Services Act (British Columbia) require an applicant for a new licence or licence renewal to satisfy the Superintendent of Real Estate (the “Superintendent”) of the BC Financial Services Authority (“BCFSA”) that they are of good reputation, suitable to be licensed at the level and in the category for which they are applying, and fit to be a licensee.
…Being a successful realtor requires that the public in general, and your clients specifically, trust you and trust the Real Estate Industry. When dealing with a basic human need as important as “home” and the kind of money required to buy or sell those homes, the level of trust needed to succeed is high.
And while being trusted by your clients and peers will help bring you success, quite simply, if you fail to meet the requirements you will not be given a licence (or a renewal).
So what are the requirements? You will need to answer a series of questions relating to your reputation, suitability, and fitness as an applicant.
You will need to submit or share things such as:
- a criminal record check if you are a first-time applicant or have been unlicensed for more than 90 days
- all current charges
- all convictions (except pardoned convictions or unrevoked criminal record suspensions),
- absolute and conditional discharges (unless they are no longer disclosable under the Criminal Records Act) when applying for a licence
- all concluded and pending civil matters (ie. bankruptcies)
- if you have been refused a licence under real estate, insurance, mortgage broker or securities legislation in British Columbia or another jurisdiction
- if you have held a licence that was suspended or cancelled under real estate, insurance, mortgage broker, or securities legislation in British Columbia or another jurisdiction
- if you have been disciplined by a professional body
Keep in mind that a past licence refusal, suspension, or cancellation, disciplinary sanction, or criminal conviction will not necessarily bar you from becoming licens
STEP 4: Financial Requirements to Obtain Your Real Estate Licenced. If you are concerned about your ability to meet the requirements, seek professional legal help.
Assuming you have met all your other pre-course requirements, if you do not have the money to pay for the process of getting your licence, your journey to becoming a realtor will come to an abrupt stop.
So exactly what kind of financial costs will you need to keep in mind before, during and after taking the UBC Real Estate Exam? A sample of the costs you will run into include:
- Criminal Record Check
- CELPIP Test
- The UBC Licensing course and Supplemental Fees
- Real Estate Licensing Fees
- Real Estate Board Fees
You may need to also consider a supplementary course that help you prepare to pass the UBC exam, in addition to the costs involved in setting yourself up as a real estate professional (wardrobe, marketing, reliable transportation, etc.).
Once you have these four key pre-course requirements (first 4 steps) taken care of, you will be ready to register for the UBC Real Estate Trading Services Licensing Course.
Register for the UBC Real Estate Trading Services Licensing Course
STEP 5: Complete the Real Estate Course
Head to the UBC Sauder School of Business website when you are ready to register for the Real Estate course. You will want to go to The Real Estate Trading Services Licensing course page and read through the information and follow the steps to register.
The self-paced online course is broken down into chapters that include a video, pdf booklet, chapter assignment and quiz.
As part of the course and in order to be able to register to write the exam, you must complete all of the course assignments within one year of the day you registered for the course. UBC suggests it will take a minimum of 10 weeks to complete and an average of about 10 to 12 hours per assignment.
STEP 6: Take the UBC Real Estate Exam
Once your assignments are handed in, your ELPR is satisfied, and all outstanding fees have been paid, you can register for an exam date (you will receive an Examination admission ticket). Note that there is also a registration fee for the exam. The exam must be completed within two years after you finish the course assignments.
You only get TWO attempts to pass the exam.
On your exam day you will need to bring valid photo ID and your Examination admission ticket with an attached valid passport photo taken within 6 months of the Examination. The photo must be stamped with the name and address of the photographer or the studio and the date the photo was taken.
Once you have written your exam, you need a minimum grade of 70% to pass the licensing examination.
If you fail on your first attempt, you must wait 90 days before writing the exam a second time. You will need to pay the registration fee again and potentially obtain a new passport photo (if the original is older than 6 months).
If you DO NOT successfully pass the exam in two attempts, you must re-enroll in the course and do the entire course over again (and pay all the associated costs).
STEP 7: Having Trouble Getting Through the Course? Get Help to Pass the Exam
The time and money involved in retaking the UBC Real Estate course a second time is huge!
Better to pass the exam on your first or second attempt.
If you have failed an exam, are already working on the course (and having a hard time with the material) or just want help to make the whole process easier, you may want to consider taking a tutorial course that makes learning the material simple, easy to follow step-by-step and fun.
While it is an additional cost to an already long list, it is significantly cheaper and less time consuming than taking the entire course again. Still unsure if it is worth it? Try the free trial.
Getting Your Real Estate Licence
After you have passed the exam, there remain several necessary steps that you will need to complete to get your licence, as part of the process of becoming a real estate agent in BC.
STEP 8: Obtain a Criminal Record Check
One of the first things you will want to do after passing your exam is to go out and complete a criminal record check. This must be done in the 90 days before you submit your licence application to BCFSA.
STEP 9: Research Local Brokerages
Do your research!
Learn as much as you can do about the different brokerages including what they offer you, what they require from you, any financial commitments or requirements and the workplace culture of the local branches. You want to find the best fit.
Once you decide on your brokerage, you will need to make arrangements to join the brokerage when you are licensed. This is necessary as your licence application must be approved by the managing broker of a BC Real Estate Brokerage.
STEP 10: Start the Applied Practice course
The next step to become a Real Estate Agent in BC is to register for the Applied Practice course. You can choose to focus and do either the Residential or Commercial version. During the course you will be able to take the technical knowledge you obtained during the UBC course and practice your real estate skills in the real world.
If you choose to go the Commercial Trading Services path, you will need a letter signed by your managing broker, director or officer stating that your primary practice area will be in commercial real estate.
You must complete the required pre-licensing components of the course before your licence can be issued.
STEP 11: Apply for Licensing
Once you have started your Applied Practice course, you can apply for your Real Estate Licence. You do this by logging in to the IRIS Platform on the BCFSA website and submitting the application and all required documentation. First time applications have to be reviewed and approved by your intended managing broker.
BCFSA’s licensing staff will then review your application. If the application is complete and satisfactory, and your applicable Applied Practice course work has been completed, your licence will be issued. Note that the BCFSA will only hold applications in a pending status for 90 days. If you are notified that your application is incomplete, or that further information is required, you need to address this within the 90 days.
STEP 12: Complete the Applied Practice course
To complete the process and receive your BC Real Estate Licence you will need to complete all remaining unfinished parts of the Applied Practice course within six months of receiving your Licence.
If you have not completed the entire Applied Practice course in the time allotted, your licence will be terminated.
NOTE: You have one year from the date you passed your exam to get licensed! This includes the criminal record check, choosing your brokerage, submitting your license application, and fully completing the Applied Practice course
Becoming A Real Estate Agent in BC
Once you complete the 12 steps listed above, you will have achieved success and your BC Real Estate Licence. With your licence in hand, you can next set your sights on achieving your financial goals. As a licenced real estate agent in BC, you will have access to countless opportunities to generate income and create the life you desire.