The real estate market in Canada has gone through a huge boom period, prompting many to consider whether it could be a viable career option to pursue. If you have ever found yourself scrolling residential real estate listings and wondering what it would be like to help people find their dream home or find investments for others in the commercial side of the business, you may have a passion for real estate that could be parlayed into a rewarding career.
Real estate professionals can enjoy a dynamic and lucrative career and a personally rewarding one, especially if they enjoy working with people often during the highs and lows of life’s biggest purchase.
Real estate salespersons act as agents for selling or purchasing residential houses, apartments, commercial, industrial, or agricultural land and other property developments. They work with clients to help find homes and investments and can also work with companies to manage commercial properties.
The many tasks real estate salespersons perform include:
- Soliciting property listings from prospective vendors
- Assisting vendors in selling their property by establishing the asking price, advertising the property, listing the property with listing services and conducting open houses for prospective buyers
- Assisting prospective buyers in selecting, viewing, and making offers of purchase on real estate properties
- Advising clients on market conditions, market prices, mortgages, legal requirements, and related matters
- Drawing up sales agreements for approval of purchaser and seller
- Handling the renting or leasing of properties on behalf of clients.
If you are looking to join the real estate profession in Canada, you have likely heard terms such as real estate agent, real estate broker, REALTOR®, and real estate salesperson. However, what do these titles mean?
Education is a critical factor in distinguishing a real estate salesperson from a real estate broker. A salesperson can achieve the broker designation by completing additional courses and exams. This additional education allows the individual to own or manage a brokerage.
What is a Real Estate Agent?
According to REBBA, real estate agent is a term that both real estate salespeople and brokers can use.
What is a REALTOR®?
REALTOR® is a registered trademark of the Canadian Real Estate Association or CREA. To call themselves a REALTOR®, a RECO registered salesperson or broker must be a member in good standing of the Canadian Real Estate Association (CREA).
While there are distinctions between the terms often used to describe real estate professionals, it is important to remember that they can all represent buyers and sellers and are subject to the regulations outlined in the Real Estate and Business Brokers Act, 2002.
To become a realtor, you must be a licensed real estate professional who is a member of CREA. There are also opportunities to be involved in property management, land development, mortgage banking, urban planning, and real estate appraisal.Job opportunities for real estate agents in Canada are projected to be “moderate to very good” over the next three years, depending on the province and market conditions. For example, job opportunities in the residential real estate sector are projected to be “moderate” in Ontario, while in Alberta, Manitoba, Saskatchewan and Quebec, the prospects are deemed to be “very good” according to federal government data.