In the Canadian real estate industry, there are a couple of ways by which one can get to learn about the industry. Despite having there been a couple of alternatives, the most credible ways is to work with either the real estate brokers or the real estate agents.
Despite the difficulty in distinguishing a real estate agent from a real estate broker, there are quite a number of distinctions between these two groups of professionals. But, in the very same way, there are all manner of ways by which the two are connected. For instance, regardless as to whether one wants to become an agent or broker, they have to have undergone some intensive training in real estate and qualified to work in this field.
However, the brokers usually tend to be more qualified than the real estate agents for a broker has to have not just covered the basic real estate courses but should indeed have taken other courses as well as gained a couple of years of experience in the field. It is therefore evident that the real estate brokers play a very different role from the agents.
To start with, both the agents and the brokers have to have undergone formal training in real estate and at the end of the training, they should have sat for and passed the appropriate exams, in this case, is the real estate brokers and agents’ exams. This ensures that they are fully licensed in order to be allowed to work in the real estate industry. Click here for a more detailed and comprehensive guide on the Canadian Real Estate License.
To ensure that one gets the best real estate information and advice there is, one has to ensure that the real estate representative they are working with has fully qualified and is further licensed. But, since the brokers tend to be more experienced and hold a higher rank than the agents, it’s certain that most of the real estate agents work for the real estate brokers. This is basically because agents are not permitted to work independently unlike the brokers.
Brokers, however, can choose to either work independently or simply work under an umbrella of other real estate brokers. Since this is usually the case, most of the agents work extra hard by taking more real estate courses and gaining more years of experience in order to graduate into becoming brokers and that way, they too can get to become their very own bosses. In most of the areas, for one to become a real estate agent, they have to be at least 18 years of age.
The mode of training, however, does vary from one city to another, or from one region to the other. In some areas, one is expected to take a few real estate courses whereas there are other places whereby one is expected to undertake a couple of hours in a real estate approved institution.
During the training, the course focuses more on their education whereas the broker’s training is mainly geared towards working on and improving their management skills. A broker’s mode of training is, therefore, more in-depth as it usually requires that one undertake more courses in the real estate industry. In addition, one has to have attained at least a two active year’s experience working as a real estate agent and lastly, they ought to have attained a membership in the real estate legal bar.
Due to their vast knowledge in the real estate industry, it is best for one to work with a real estate broker for they are usually more liable for any mistakes made when transacting business with them. S/he is further liable for any other mistakes that are made by their junior staff which covers the agents working under them. The brokers are therefore less directly engaged with the transactions being made by either their clients or buyers for they usually hold managerial posts. Some individual starts off as a real estate agent but eventually opened their own real estate brokerage.
Both the real estate brokers and agents are great to work with for all that matters is their experience and credibility. They, therefore, can be approached whenever one is need of help in applying for financing, making offers or bargains, finding a suitable property, writing or editing legal documents or making arrangements for an inspection. And regarding the financial rewards, the real estate brokers tend to earn a lot more money than what real estate agents earn.
Whether you plan to become a real estate agent or broker in Canada, you have come to the right place! Our one-page requirement guide, along with links to official sources will certainly help you quickly understand what is needed to kick-start your career as a Real Estate Agent or Broker. To find out more useful information regarding how to become a real estate agent please click on a Province below.
|New Brunswick||Newfoundland and Labrador||Nova Scotia|
|Prince Edward Island||Quebec||Saskatchewan|
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