Renewal Criteria and Course Requirements for Real Estate Licenses
Understand the renewal process and course requirements for real estate licenses. Complete articling courses within 24 months to renew your license. Permanent licenses must be renewed every 24 months with specific credit requirements. Learn about elective courses, credit completion, and renewal considerations to maintain your license successfully.
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Presentation Transcript
Articling courses include 1. Real Property Law (Compulsory) 2. Commercial/Residential (Compulsory) 3. Once of the following electives (your choice) 1. Principles of Appraisal 2. Principles of Property Management 3. Principles of Mortgage Financing 4. Real Estate Investment Analysis
If you dont complete Articling Courses within 24 months of obtaining temporary license, you will not be able to renew your license You must submit your transcripts for the Articling Courses to RECO before your license expires to renew it Your license will be renewed as a permanent license
Permanent licenses must be obtained every 24 months In case it expires, you must get it renewed within 60 days If you don t renew it within 60 days of expiry, you will have to pay initiation fees and complete the RECO update course
You must finish 24 credits to renew your permanent license 6 credits must be obtained by completing the RECO Update Course 18 credits must be acquired through OREA or any recognized third-party A maximum of 8 credits can be carried forward to the 2-year renewal period, but you cannot carry forward the 6 RECO update credits to the next segment
Example: If you get a CE Network package to finish 22 credits, that means you have done 4 extra credits Those 4 credits can be carried-forward to the next two-year renewal period In the next two-year renewal period, you will only need to do the RECO Update Course and 14 other credits instead of 18 The RECO update course must be completed every two years Real estate brokers must finish 24 credits too
Self-discipline People skills Ability to negotiate Knowledge of computers Interview techniques Ability to solve difficult problems Organizing and planning skills Research skills Knowledge of computers Mathematics Persistence and confidence
