Career in Real Estate Industry

[Mortamer]

agency sponsorship?

as far as i know, you have to complete 3 phases @ OREA + Real Property Law + a choice of course (must select 1 out of the 3). From my understanding, you must complete all this before applying to any brokerage.

I believe it is also explained in detail on the OREA website.

hope this helps

Thanks for that
I did not see it on the site.
I was told by a agency that you needed to be employed by them (or at least have a letter of contingent employment baised on passing all the courses) before you could think about getting into phase two. Thanks for clearing that up.

 

[RealEstateGirl]

Mortamer,

Yes, definitely not true. I'm in Phase 3 right now and not employed by any real estate brokerage. I also think that once you finish Phase 3 you can apply to any brokerage and be employed (once you get the licensing from RECO). However in the first 2 years you have to do the articling courses to maintain registration. So I don't believe you have to take the Real Property Law and some of the others courses BEFORE you get registered. But again, I don't want to mislead you. The best thing to do is call Orea to get some clarification. Here's the number: (416) 391-6732. A word of advice however-call at least 2 times to verify the information you receive. I have found on a couple of occasions that I get different answers sometimes.....LOL

 

[Observer Walt]

^ That's pretty well it; it's outlined on the OREA website, although maybe not as clearly as you might wish. You take Phase 1, Phase 2, and one of the Phase 3 segments (residential or commercial). Once you have these three courses under your belt, you can get registered.

Within the next two years, following registration, you take three more courses: the other Phase 3 course, Real Property Law, and one of four electives.

They recommend that you take Phase 3 residential before Phase 3 commercial, but depending on scheduling you can do it the other way around. You might want to know that Phase 3 commercial involves a good deal of mathematics, which some people find challenging.

 

[RealEstateGirl]

Thanks Observer Walt,

I think you pretty much summed up the deal with the courses. Sounds correct to me and is synonymous with what others have told me.

 

[Mortamer]

Thanks everyone that sums it up nicely.

My confusion was that i have heard a few different things from different companies, one specifically saying that you need to be sponsored to get into Phase 2 and 3. I did not think that was the case, but now thanks to you guys Im confident its not.

Anyone able to provide the same type of answer for the Mortgage Agent/Broker side of the question? Again i have heard different things.

Thanks again everyone.

 

[RealEstateGirl]

Mortamer,

One other thing on the real estate courses. I have heard from several agents that some brokerages will PAY for the Phase 2 and 3 courses in exchange for the student to sign on and work with them. Perhaps that may be what you are hearing. In any case, its not a requirement for entry into Phase 2 & 3.
REG

 

[caltrane74]

I would like to meet up with someone in the Real Estate Industry as I have a friend that would like to get into the business.

We could go for Coffee or dinner and you and/or your aquaintances could explain getting into the profession to us.

It could be a fun time for all....

Please send me a private message if anyone would like to help us out...

Thanks.

 

[Mortamer]

Mortamer,

One other thing on the real estate courses. I have heard from several agents that some brokerages will PAY for the Phase 2 and 3 courses in exchange for the student to sign on and work with them. Perhaps that may be what you are hearing. In any case, its not a requirement for entry into Phase 2 & 3.
REG

Thanks REG,
At this point id rather focus on just getting the license, not where i'm going to use it. My primary interest is in the Mortgage side of things, and ill be using the license pt at best. Thanks for all your help.