Extensive education is needed before you can earn a licence to practice real estate. The Real Estate Council of British Columbia is the regulatory body responsible for licensing real estate representatives, brokers and brokerages in BC.
For step-by-step information on how to obtain your real estate licence, please visit the Council’s website at: www.recbc.ca/licensing/trading.htm
What is the value of becoming a REALTOR®?
Not all real estate trading services licensees in BC are REALTORS®. To be called a REALTOR®, an individual must be a member of a real estate board and, therefore, a member of their provincial association (BCREA in BC) and the Canadian Real Estate Association (CREA).
Benefits of being a REALTOR® include:
- Access to the Multiple Listing Service® (MLS®)
- Ethical conduct guidelines provided in the REALTOR® Code
- Access to standard forms
- Educational standards and opportunities
- Access to statistics, newsletters and other communications
- Leading-edge marketing and technology tools
- Arbitration services
- Networking opportunitiesFor more information about a REALTOR®’s role, click here.
Real estate is a demanding profession with high standards. Those standards are maintained through comprehensive education and experience requirements, and supported by the services of several organizations at the provincial and real estate board levels.
The following is a brief summary of the start-up costs associated with a career in real estate. For more information, new or potential REALTORS® should consult:
Contacting a real estate brokerage may also help potential REALTORS® learn more about the business.
Licensing fees are payable to the Real Estate Council of BC. A real estate licence must be renewed every two years.
| ||First Time Applicant||Renewal Applicant
|Total License Fee for Individuals||$1660.00||$1330.00
More information about licensing fees is available from the Real Estate Council of BC.
Organized Real Estate Fees
These fees, which give you all the benefits of being a REALTOR® in addition to being a licensee, are payable directly to your local real estate board and vary throughout the province. They include:
|BCREA new member initiation fee||$495.00||$24.75||$519.75
|BCREA annual dues||$232.00||$11.60||$243.60
|Canadian Real Estate Association (CREA) new member installation fee||$200.00||$24.00||$224.00
|CREA annual dues||$246.00||$12.30||$258.30
|Yearly after startup||$678.00||$47.90||$725.90
Additional real estate board fees may include a board initiation fee, board monthly/annual dues and listing fees.
Check with your local board for specific fee information.