Real Estate Broker Program

Course 1

Planning and Start-Up - eLearning

OVERVIEW

This course will help learners identify key considerations for opening a new brokerage or acquiring an existing one, the possible types of ownership, the process for registering a brokerage with RECO, the potential brokerage organizational structures, and the individual roles within the brokerage. Finally, the course will outline how to identify and manage potential risks.

MODULES

1. Establishing a Brokerage
2. Registering the Brokerage
3. Defining the Roles and Responsibilities in a Typical Brokerage
4. Identifying Risks, Liabilities, and Insurance Considerations for a Brokerage

PREREQUISITE

• Broker Qualifying Exam

Course 2

Business Management - eLearning

OVERVIEW

This course details the responsibilities of a broker of record with regards to business management for a real estate brokerage. The course will focus on topics including building and maintaining general records, setting up and managing an accounting system, and analyzing financial statements.

MODULES

1. Building and Maintaining General Records for a Brokerage
2. Setting Up and Managing the Accounting System for a Brokerage
3. Analyzing Financial Statements

PREREQUISITE

• Course 1: Planning and Start-Up - eLearning

Course 3

Human Resource - eLearning

OVERVIEW

This course explores the role of the broker of record in establishing staff requirements and includes a high-level overview of the recruiting process. The course also explains the importance of complying with employment standards and statutory requirements, identifying health and safety issues, and the creation of a brokerage’s policies and procedures manual.

MODULES

1. Establishing Staff Requirements for a Brokerage
2. Hiring Salespersons, Brokers, and Administrative Staff for a Brokerage
3. Complying with Employment Standards and Statutory Requirements in a Brokerage
4. Leading Your Brokerage

PREREQUISITE

• Course 2: Business Management – eLearning

Course 4

Ongoing Oversight - eLearning

OVERVIEW

This course examines a brokerage’s compliance with the Real Estate and Business Brokers Act (REBBA) and other legislation with regards to trade processing, policies and procedures and the establishment, maintenance and monitoring of real estate trust accounts The course examines the specifics of monitoring remuneration, commission agreements, advertising and business promotion in compliance with REBBA and other legislation. It discusses the importance of ensuring fair, open, and transparent real estate transactions. Finally, the course examines how to monitor the business environment and develop a business plan for strategic growth.

MODULES

1. Monitoring Trade Processing and Trust Accounts for a Brokerage
2. Monitoring Remuneration
3. Monitoring Advertising and Business Promotion of a Brokerage
4. Ensuring Fair, Open, and Transparent Real Estate Transactions
5. Monitoring the Business Environment of a Brokerage

PREREQUISITE

• Course 3: Human Resources - eLearning

Wrap-Up - Bringing It All Together

Online

OVERVIEW

In this session, learners will take on the role of a broker of record for a fictitious brokerage. Learners will spend two days practicing core activities and tasks related to compliance with the Real Estate and Business Brokers Act (REBBA) and other legislative requirements and obligations. The session will be led by a real estate broker with experience acting as a broker of record in a brokerage. The experience will enable learners to consolidate and apply the knowledge and skills gained from the eLearning portion of The Real Estate Broker Program. It is designed to help learners develop confidence and accelerate their journey to establish or take over a brokerage, manage risks on an ongoing basis, and ensure alignment with REBBA and other legislative requirements and obligations.

PREREQUISITE

• Course 4: Ongoing Oversight – eLearning

ATTENDANCE

Facilitated sessions are mandatory, and learners are expected to attend on all days and to arrive on time. Attendance that falls below 80% will result in a failing grade of incomplete and require you to re-book the entire facilitated session and pay the corresponding fees. For more details about attendance requirements, learners can refer to the Facilitated Session Policy and Fees, Payments & Refunds Policy.

LEARNER RESOURCES

To help you prepare for the Broker Wrap Up Session, you must read the Learner Resources — Broker Wrap-Up before attending the first day of session.

IMPORTANT INFORMATION ON SCHEDULING

We monitor learner demand daily and add sessions in keeping with resource and timeline considerations. Scheduling decisions involve, for example, the advanced planning for the real estate professionals who have been carefully selected as your facilitators. In addition, the complexity around the variability of learner progression means that you may need to wait for a Wrap-Up Session. A gentle reminder that once sections and waitlist(s) are full, they do not appear on the registration system.

In keeping with the process described above, it is important to note that new sections for Wrap-Up Sessions will open on a continuous basis, always complying with resource and timeline considerations. If learners notice a new section has opened, they may opt to transfer from an existing section registration to a newly opened section. However, please note that a $50 administration fee does apply to all transfers. For more information please visit the Facilitated Session Policy and the Fees, Payments & Refunds Policy.

Please also note that the program pre-requisite structure adheres to the requirements indicated by our regulatory body, and it is Humber’s responsibility to ensure compliance. Prior to registering in any given Course, Exam, or Wrap-Up Session, learners must successfully complete the corresponding pre-requisite. For example, before registering in Course 2, a learner must pass Course 1; and so on.

We hope that the above scheduling insights will help build understanding that there may be ‘buffer’ time required between program elements while keeping in mind the pre-requisite structure. Please see the Real Estate Broker Program Learning Path for more information about program progression.

Broker Final Exam

OVERVIEW

This will be a three-hour in-person invigilated theory exam based on eLearning content from Course 1 through Course 4.

EXAM DETAILS

• Exams are only available for registration up to 7 days prior to an exam date
• All exams are delivered in an online format at a qualified Testing Centre or by a program approved virtual proctoring service
• Learners must achieve a minimum score of 75
• Exam questions will be (4) four-option multiple choice with a single correct response
• The Broker Final Exam consists of 115 questions

PREREQUISITE

• Wrap-Up Session – Bringing It all Together

IMPORTANT INFORMATION ON SCHEDULING

We monitor learner demand daily and add seats in keeping with resource and timeline considerations. Scheduling decisions involve, for example, advanced planning for proctors to monitor exams. A gentle reminder that once sections are full, they do not appear on the registration system.

In keeping with the process described above, it is important to note that new sections for exams will open continuously, always complying with resource and timeline considerations. If learners notice a new section has opened, they may opt to transfer from an existing section registration to a newly opened section. However, please note that a $50 administration fee does apply to all transfers. For more information please visit the Examination Policy and the Fees, Payments & Refunds Policy.

We hope that the above scheduling insights will help build understanding that there may be ‘buffer’ time required between program elements while keeping in mind the pre-requisite structure. Please see the Real Estate Broker Learning Path for more information about program progression.