1. Requirements for Enrollment
The applicant must be at least 18-years old
The applicant must be a permanent resident of Canada for a minimum period of one year

2. How to Register with OREA
A Career in Real Estate
How to Register with OREA

3. Pre-Registration
You have to complete the following pre- registration courses in 18 months:
Real Estate as a Professional Career (phase 1)
Land, Structures and Real Estate Trading (phase 2)
The Real Estate Transaction – General (phase 3)
This may be EITHER:
Residential Real Estate Transaction
Commercial Real Estate Transaction
If you are unable to finish them within 18 months, you must start again from phase 1

4. Pre-Registration
Once you pass phase 3, you have to obtain your license from RECO within 12 months
This entails singing up for employment under a brokerage (REMAX, Century 21 etc.)
You will need to send RECO your licensing application through the brokerage you have joined
This application requires disclosure of any conflict of interest, judgments, bankruptcy, charges and a criminal check
RECO may also conduct extra searches, including bankruptcy and sheriff’s search for writs since sheriffs can seize properties to satisfy debt

5. Pre-Registration
If your application is processed and approved by RECO, you become a member of RECO and receive a temporary license
You can practice in real estate (represent buyers and sellers/ buy and sell) once you have your license

6. RECO Fees Errors and Omissions Insurance (EOI)
EOI covers any error or omission:
As much as $1,000,000 per claim
$3,000,000 annual aggregate (collective)
Gradual deductible
1st deductible claim = $2500, and each time after first claim $2500 is deducted, it is added to the next claim
2nd deductible claim = $5000
3rd deductible claim = $7500
EOI does not cover fraud
For an additional $100 fee, coverage increases from 3 years to 7 years

7. RECO Fees Commission Protection Insurance (CPI)
$250 deductible
$100,000 per claim
$1,000,000 per occurrence
Consumer Deposit Insurance
Not deductible

8. RECAP
Once you complete pre-registration procedure, you can file an application through your brokerage to RECO
RECO issues you a temporary license after which you have to complete the Articling Period for 24 months (known as Articling Segment)