About the Real Estate Broker Program
What is the Real Estate Broker Program?
The Real Estate Broker Program is for real estate salespersons who have been active in the industry and aspire to continue their education to become a real estate broker. The program covers key aspects involved in owning, managing, or operating a real estate brokerage, such as:
- Opening a brokerage
- The responsibilities of a broker of record
- The business and administrative aspects involved in running a brokerage
- Examining relevant parts of the Real Estate and Business Brokers Act, 2002 (REBBA) from the perspective of a broker and brokerage compliance
Who is eligible for the Real Estate Broker Program?
The Real Estate Broker Program is open to all existing registered real estate salespersons. To qualify for the Real Estate Broker Program, an individual must be an active real estate salesperson currently registered with RECO and must successfully complete the Qualifying Exam before getting started with the Real Estate Broker Program.
What are the components of the Real Estate Broker Program?
The Real Estate Broker Program learning path has three steps and seven components.
Step 1: Qualifying Exam
Successful completion of the Qualifying Exam is a requirement to getting started with the Real Estate Broker Program. The Qualifying Exam is designed to test working knowledge on the key areas involved in the trading of real estate in Ontario and is three hours in duration.
Step 2: eLearning Courses, Interactive Session and Final Exam
Upon completing Step 1, learners are eligible to start Course 1 of the Real Estate Broker Program. This step includes the following components which must be completed sequentially:
- Four eLearning courses:
- Course 1: Planning and Start-up eLearning
- Course 2: Business Management – eLearning
- Course 3: Human Resources – eLearning
- Course 4: Ongoing Oversight – eLearning
- The wrap-up session
- Wrap-up Session – Bringing it all Together
- The Invigilated Theory Exam
Upon completing Step 2, learners are eligible to register with RECO as a broker. To register with RECO, an individual must have successfully completed the Real Estate Broker Program and have been employed as a salesperson for at least 24 of the 36 months immediately preceding the date of application.
For more information about the Real Estate Broker Program Learning Path, click here.
To learn more about how to Register with RECO please visit reco.on.ca./real-estate-professionals.
How long does it take to complete the Real Estate Broker Program?
The estimated duration of the Real Estate Broker Program is as follows. Actual course work duration will vary per individual learner.
- Invigilated Qualifying Exam – 3 hours
- Course work (estimated):
- Planning and Start-Up – 10 hours
- Business Management – 10 hours
- Human Resources – 10 hours
- Ongoing Oversight – 12 hours
- Wrap up – Bringing It All Together – 14 hours over two days, excluding lunch and breaks
- Invigilated Theory Exam – 3 hours
How do I get started with the Real Estate Broker Program?
To learn more about getting started with the Real Estate Broker Program, click here.
How long do I have to complete the Real Estate Broker Program?
Learners have 12 months to complete the Real Estate Broker Program from the start date of the first course.
What are the costs for the Real Estate Broker Program?
The Real Estate Broker Program follows a “Pay as You Go” structure, meaning you pay for each course in sequential order. Click here to learn more.
How is the new Real Estate Broker Program different from the old OREA Broker Program?
Though both programs provide the core information necessary to be a broker, the Real Estate Broker Program has added focus on content beyond the legal obligations of being a broker and a wrap-up session facilitated by experienced brokers. A differentiating feature of the program delivered by Humber is the introduction of the Qualifying Exam. The purpose of this exam is to ensure mastery of sales-related concepts. This allows the program to focus on concepts relating to brokerage operations, management and leadership.
What is the Qualifying Exam for the Real Estate Broker Program?
The Qualifying Exam is designed to test the salesperson’s working knowledge on the key areas involved in the trading of real estate in Ontario, of which a practicing real estate salesperson should be aware.
Why is there is a Qualifying Exam to enroll in the Real Estate Broker Program?
The purpose of the exam is to ensure the salesperson has a strong foundational knowledge of their current obligations before learning about the obligations of a broker of record.
Is the Qualifying Exam required for individuals who completed the salesperson program through OREA?
Yes. The qualifying exam is the same for all applicants.
Is there an equivalency to the Qualifying Exam that I may submit versus taking the exam?
No. Successful completion of the qualifying exam is required for admission into the Real Estate Broker Program.
What happens if I fail the Qualifying Exam?
If a potential Learner does not pass the Qualifying Exam, they have the option to attempt the exam again by rescheduling and repurchasing. For more information about Exams Rewrites please visit our Examination Policy.
What is the Wrap Up Session? What content is covered during the session?
The Wrap Up Session helps learners put theory into practice and understand what a day in the life of a real estate broker is like. The Wrap Up Session is a simulation-based experience led by practicing real estate brokers and is designed to reinforce compliant practices involved in owning, operating, or managing a brokerage.
How is the Wrap Up Session held?
The Wrap Up Session will be held virtually via Zoom. For more information on Zoom requirements please visit our Resources page.
How are exams held?
What happens if I fail the Theory Exam (final exam)?
If a Learner does not pass the Theory Exam, they have the option to attempt the final exam again by rescheduling and repurchasing. For more information about rewriting exams please visit our Examination Policy.