Alberta is one of the best places in Canada to get a real estate license. The cost of getting a license is very low, and the training program provided by the Real Estate Board of Greater Vancouver is one of the best around. In this post, we will go over what you need to know about how to get a real estate license in Alberta by outlining all of the steps involved with getting started down this path.
What is the Real Estates License In Alberta?
In Alberta, the Real Estate License is a license issued by the government that allows you to sell real estate legally. The Real Estate License in Alberta is a legal requirement to practice real estate in Alberta. The Real Estate License is also required to sell, lease or manage a property as a realtor. It is also required for those who want to work as an agent on behalf of a landlord or tenant in selling or leasing property.
How to Get a Real Estate License in Alberta?
There are two ways to get a real estate license in Alberta:
The first is through the Alberta Real Estate Board (ARED) and includes all the requirements for getting your license, including passing an exam. This option is for anyone who wants to work as an agent or broker but doesn’t want to deal with all the paperwork associated with getting their license.
The second option is through Canadian Real Estate Association (CREA), which does not require you to take written tests or pass any exams; instead, it allows you to register as a Broker Associate upon completion of training.
Check if You Meet Alberta’s Requirements
To become licensed in Alberta, you must first apply and be approved by the Real Estate Council of Alberta (RECA). You also need to meet specific requirements that are outlined below.
- You must be a citizen or a permanent resident of Canada
- You must be 18 years old
- You must have a valid driver’s licence
- A secondary school diploma or equivalent is required
- You must be fluent in English
Register in myRECA
When you’re ready to get your real estate license in Alberta, start with myRECA.
myRECA is a portal for Real Estate Council of Alberta (RECA) functions such as education and licensing. During this procedure, you will become eligible, complete courses, request services, and maintain your license through myRECA.
You’ll need a username and password to create an account. Supply the email RECA will use to contact you while they are working on your application. Accept the myRECA because it gives RECA consent to contact you or otherwise use your personal information for regulatory purposes. When you finish configuring your myRECA account, the system will prompt you to register for the first time.
Start this step only when you are ready to begin your application and education eligibility process. Before logging in for the first time, you must complete one of three potential eligibility-related applications and make a payment. Before logging in for the first time, review these procedures to ensure your email address and password are correct.
Labor Mobility
If you’re looking to get a real estate license in Alberta, we’ve got good news: you qualify for a license on the basis of your qualifications in another jurisdiction!
The Canadian Free Trade Agreement allows for individuals licensed or eligible to be relicensed in another jurisdiction with no additional requirements to have their licensing recognised under the Canadian Free Trade Agreement’s labor mobility provisions. Applicants are not needed to be Alberta residents.
Only licensees from specific jurisdictions are qualified for Alberta labor mobility. Check the information in the drop down below to see your qualifications.
When you first log in to myRECA, the system will inquire if you are coming from another jurisdiction. Respond positively and proceed with the procedures. A Labour Mobility Application costs $350. In addition, you will be asked to submit supporting documents with your application. You’ve got six months to finish your application.
The document required for the application is
- A photo for your biography
- Canada-issued identification:
- Birth document
- Permanent resident card
- Citizenship card
- Front and back valid work permit
Take a Real Estate Course
Individuals must finish the required education through a third-party recognised course provider in order to become licenced as a real estate professional. To become licensed, you must first finish the eligibility procedure before determining whether a RECA or third-party course provider is available.
Some courses may have multiple third-party course provider options accessible, in which case learners are encouraged to choose a course provider that is well-matched to their learning needs.
There are different types of courses available, including:
Introduction to Real Estate (IREC)
This one-semester course teaches students the fundamentals of selling houses or buying them and how mortgages work. It’s offered online or in person at various levels depending on whether or not you have previous experience with investing in property, like buying or selling it yourself.
Appraisals & Valuations
This two-semester course covers everything from calculating a value based on market rates and expenses incurred by renovating houses before putting them back up for sale (or even renting them out).
For those interested in investing in real estate but don’t know where or how to start, this course is a great way to get your feet wet and learn the ropes. It will teach you how to assess property value through various methods like comparing similar homes that have recently sold nearby, what it costs to maintain an investment property, what rent should be to make a profit, and more.
Submit Your Exam Results and Complete the Licensing Process
Once you have passed the exam and paid your fee, you must complete the licensing process. The first step is submitting your exam results to the Real Estate Council of Alberta (RECA). Once it has been verified that you have passed, RECA will issue a broker license which allows you to sell real estate in Canada as an agent or broker. But it takes about 6 months.
You must still be licensed with RECA when applying for a real estate license in Alberta, so make sure all requirements are met before applying!
Request for Certified Criminal Record Check
After completing your pre-licensing classes, you must acquire a Certified Criminal Record Check. There are two types of criminal background checks; the one you want involves fingerprinting. However, it takes a little longer because everything must be sent to the Royal Canadian Mounted Police (RCMP) in Ottawa before the results are available.
RECA will now receive your findings in two to three weeks, and you can request that they be mailed directly to RECA. So you don’t get immediate results, but RECA does, which is faster. Furthermore, if you have had a certified criminal record check within the last six months, you can still use the same CCRC Account to submit your application; you do not need to create a new one. But it is not past 6 months of period.
Choose a Brokerage
You are eligible for licencing after completing your education and getting approval from RECA. Your state will be displayed in your myRECA account’s Licensing tab. You must then call an Alberta-licensed brokerage and reach an agreement for them to hire you. The next stage is to complete employment contracts with the brokerage, trade organisation membership applications (if your brokerage is a member), and licencing applications.
Conclusion
We hope this guide has helped you understand how to get a real estate license in Alberta. Remember, it is essential to follow and complete all these steps. As long as you meet the requirements and pass all your tests, there are no additional barriers when applying for your license.
FAQ – How to Get a Real Estate License in Alberta?
How fast can you get your real estate license in Alberta?
It can take anywhere from 6 months to 2 years for your real estate license to be processed. This depends on the type of license you are applying for and how fast you want it done.
If you plan on becoming an agent, it will take less time than if your goal is to become a broker or broker-associate. For example, agents in Alberta have up to six months before taking their written exam and getting their licenses issued by CAIR (the Canadian Association of Real Estate Regulators).
On the other hand, brokers and broker-associates can start working immediately after completing all required educational courses with an additional period of apprenticeship before being issued a full license by CAIR (which takes about two more years).
How much does a realtor make in Alberta?
In Alberta, the average salary of top realtors is around $98,000 per year.
This figure includes both residential and commercial sales agents.
For comparison purposes, here’s a look at how much your realtor could be paid in other provinces:
- In Calgary ($71,000)
- In British Columbia ($87,000)
If you’re interested in pursuing a career as a real estate agent or broker in Alberta but aren’t sure how much you’ll make on commission when you first start out (or if other factors might affect your earnings).
How Much Do You Make as a Realtor in Calgary?
The average salary for a Realtor in Calgary is $63,454. Salaries estimates are based on 10 salaries submitted anonymously to Glassdoor by Realtors in Calgary. Your input helps us refine our pay estimates over time by taking the mystery out of salary reporting.
What type of Realtors makes the most money?
As you can see, there are many options for earning a real estate license in Alberta. However, the type of realtor that makes the most money is Real Estate Brokers, and it also depends on your area and your experience. For example, if you live in a larger city with many high-end properties, then it is likely that more expensive homes will be listed on your market and therefore bring in more income as an agent than someone who sells houses at lower prices.
Consider whether this interests you before deciding on how much time and money should be invested into learning all aspects of being an agent so that when things get busy again next year (or whenever), everything runs smoothly without any hitches!
Is real estate going up in Alberta?
In 2024, TD expects housing prices in Alberta will increase by 3.2 per cent.
If you’re looking to make a real estate investment or just want to know how much your home is worth, that’s a great place to start.
