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 Education Fees
These fees are payable directly to the organizations noted.
|Licensing Course |
| Real Estate Division, Sauder School of Business, the University of British Columbia || 1150.00 |
| Residential Trading Services Applied Practice Course or the Commercial Trading Services Applied Practice Course (includes GST) || British Columbia Real Estate Association || 918.75 |
Effective April 1, 2017
| ||First-time applicant ||Renewal applicant |
|Real Estate Compensation Fund assessment ||300 ||0 |
| Errors & Omissions Insurance assessment ||700 || 700 |
|Superintendent of Real Estate assessment ||150 ||150 |
|Real Estate Council of BC licensing assessment ||450 ||450 |
|Application fee ||60 ||30 |
|Total Licence Fee for Individuals ||$ 1660 ||$ 1330 |
Real Estate Board Fees
These fees are payable directly to the local real estate board and vary throughout the province. They include:
| Fee Description || |
| BCREA new member initiation fee || 495.00
|| 24.75 || 519.75 |
| BCREA annual dues || 232.00
|| 11.60 || 243.60 |
|The Canadian Real Estate Association (CREA) new member installation fee || 200.00
| CREA annual dues || 246.00
||12.30 ||258.30 |
| Total (start-up) || |
| Yearly after start-up || $ 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.
The following may also apply:
- Mobile phone
- Computer and printer
- Contact management software
- Website, business cards and other promotional materials
- Business automobile insurance
- Business attire
- Desk and transaction fees
- Criminal record check (for licence application)