Get Component Three - British Columbia Real Estate Association

Licensing fees (managed by BCFSA) Program/ServiceOrganizationFeeLicensing fee and assessmentsReal Estate Compensation Fund Corporation300Errors and Ommisions insurance assessment700Total start-up licensing fee$4,025Every two years after start-up$1,6504 more rows • Apr 8, 2022

Yes, it's true the exam is difficult, and you will need to study a lot. However, you should be wary of some of the statistics out there on how many people fail the exam. For example, The Real Estate Boot Camp claim on their website that the exam has less than a 50% success rate.

The Real Estate Council of British Columbia protects the public interest by assuring the competency of real estate licensees in BC and ensuring their compliance with the Real Estate Services Act.

In B.C., people in this career must complete a licensing course through the University of British Columbia, as well as the Residential or Commercial Trading Services Applied Practice Course. In B.C., licences are renewed every two years.

You should expect to take up to one year to complete the required licensing course and examination before applying for licensing. Individuals with prior real estate education or experience may be eligible for an exemption from the coursework. Please consult BCFSA's Education and Licensing Policies.

Real Estate allows you to earn unlimited income Some of the more successful real estate agents in in BC have earned considerably more than that. The Cons: Real estate is typically 100% commission based. That means you will only make money when you get a listing and sell a home, or when you help a buyer purchase a home.

Under the Council Rules, you are allowed two attempts at passing the examination. If you fail the exam on your first attempt, you must wait 90 days before writing the exam a second time. If you write the exam a second time, you must do so within two (2) years of the date your request was granted.