How to Build a Career as an Estate Agent in Canada

Check out what opportunities await you as a real estate agent in Canada, and how to become one.

Building a career as a real estate agent offers you a whole range of opportunities in Canada. This, however, is just one of the many advantages of the profession. If you’re a people person, you love to speak convincingly, and buy and sell things, this might just be the career for you.

This article covers the toils and spoils of the trade, and tells you what you need to know to build a successful career as an estate agent in Canada.

Who is a Real Estate Agent?

Real Estate consists of a piece (or pieces) of landed property, containing buildings and any other accompanying resources. A real estate agent (or an estate agent), therefore, is one who is licensed to manage the buying and selling of such property. They do this by representing the sellers to the buyers and the buyers to the sellers.

Taking a career as an estate agent means you usually will specialize in either sales or leasing of residential and commercial properties, legit businesses or land on behalf of your clients. This will require mastery of how to value and market properties since obviously, you will look to get the best prices.

Furthermore, you will need to liaison with other estate agencies during transactions to help better value property. Such agencies include banks, mortgage brokers, building societies, surveyors, architects, solicitors, etc.

Career Opportunities as an Estate Agent in Canada

Various opportunities await those who choose become real estate agents in Canada. Because landed property will always require management, these agents can be found in various fields for consultancy and even for their skills. Let us briefly take a look at what opportunities await them;

Property Management:

Property management is the most basic function of those with a career in real estate. In fact, it is part of their most basic definitions. The function of a real estate property managers is to ensure maximum profit for the owners of the property over a period of time. Usually, when a building is given out for lease/rent, the real estate agent is tasked with ensuring occasionally, that the building is still in good shape. They report to the house owner on agreed intervals.

Such buildings are most commonly apartment buildings; however, they could also include office buildings, condos, etc.

Property Development:

Another very important function of estate agents is property development. This involves converting bare land into profitable assets for the owner. This could involve building parks, apartments, office buildings, etc. for lease or rent. The process begins with site selection, through surveying till the final product is ready.

The simple aim of this type of career in estate agency is to turn bare landed property into a profitable venture.

Residential Agency:

Another very basic service provided by estate agents in Canada–and anywhere else, really–is managing transactions of residential buildings. When people want to sell their houses, for whatever reason, they usually turn to estate agents to find a buyer for the house.

It becomes the agent’s job to look around the house and place a value on it based on age, location, facilities, etc. This price is agreed on between the seller and the agent, who then proceeds to find a buyer for the property.

Commercial Agency:

Commercial agency is exactly like residential agency, but this time, with office buildings and corporate property instead of residential ones. The estate agent is there as the middleman between the buyer and the seller. In cases where the property proves difficult to sell, estate agents are also in the position to advise the seller on price flexibility.

Real Estate Agents in Finance:

This part of Real Estate involves everything finance; estate agents in this sector deal with brokerages and mortgages. The partner with financial institutions and are well-attuned to tax law. These agents will explain based on your income, what property you can afford and which ones you cannot.

Urban and Regional Planning:

Estate agents with a career in this sector in Canada are mostly government employed. Therefore, they plan and manage estate on a large scale; that is, towns, cities, etc. They look for best ways to locate government property, state facilities, roads, residential areas, etc.

Real Estate Appraisers:

Building a career in estate appraisal in Canada means that such agents will specialise in valuation of property. Those in this sector require knowledge of economics, accounting, math, etc. They are usually in the best positions to give you the least and best profitable values for your property, providing a bracket within which you can comfortably sell/buy.

Becoming an Estate Agent in Canada

If you believe you have what it takes to build a career as an estate agent in Canada, given the career choices above, then you should note the following steps to becoming an estate agent in Canada.

  1. Certification and Licensing
  2. Joining an Agency
  3. Getting Your First Clients

#1. Certification and Licensing

Firstly, the most important thing is your certification. Now, while the basic requirements for an estate agent in Canada are fairly similar, it is hard not to notice slight differences between policies for each province. Hence, different provinces have provided their own trainings for intending real estate agents.

The licensing, however, doesn’t come until much later. This usually comes after you’ve found an agency to practice with. However, it involves applying for a license to practise through your agency, paying an application fee and hoping it gets approved.

You will also need to get “errors and omissions insurance” from your province’s real estate agency to protect you from mistakes and oversights on the job.

#2. Joining an Agency

Joining an agency after your certification is like doing an internship and transitioning to full job. It begins with you looking for a suitable company that will be willing to sponsor your license and will actually let you practise.

In ideal cases, you are attached to a professional for a period of time and this person will teach you all the nitty-gritty aspects of the trade till you can be on your own.

#3. Getting Your First Clients

At this point, you’ve probably started telling people what you do. Now, all you need to do is find one to get you to do it for them. You could advertise your services by posting property for sale on your social media, giving real estate advice, etc. Whatever it takes to kick off your career as an estate agent in Canada.

Where to Build a Career as a Real Estate Agent in Canada

After considering all else, the next important thing one has to consider while building a career as an estate agent in Canada is where to build such a career. As previously established, different provinces have different policies on real estate. In addition, and as it is with most other professions, estate agents are needed in some provinces far more than in others.

Hence, it would be wise that one who looks to build the career should look for a place with high demand to begin with. Therefore, here are some of the provinces with the highest demand for estate agents;

  • Ontario
  • Yukon
  • Prince Edward Island
  • Manitoba
  • British Colombia

These are some of the provinces with lots of opportunity for real estate agents. Some of them have estate agents listed in their provincial nominee programs. Ontario, for example, is the province containing Ottawa; the capital city of Canada.

Undoubtedly, they have some of the best real estate property sets in the country. This makes the province a haven for those intending to build a real estate career in Canada.

Other provinces in the list have just as much potential and professional adventure as Ontario. It is therefore, important to weigh your options and consider certain factors when choosing your preferred province.

Frequently Asked Questions

What is the Real Estate NOC Code?

The NOC Code for Real Estate Professionals in Canada is 6232. Find out what NOC means and the codes for other professionals here.

What is the Average Salary of a Real Estate Agent in Canada?

An estate agent’s salary largely depends on the province, the level of experience, and the sort of career option under real estate they follow. However, the average salary of an estate agent in Canada ranges from $24,000 to $135,000 per year.

Can a Foreign national build a career as an Estate Agent in Canada?

Yes; of course. As a foreign national, it is possible for you to immigrate to Canada as a Real Estate Agent. Check out our article on how to go about your dealings with the IRCC and finalising your move.