Today we delve into the topic of how to get your Real Estate License in Canada - Specifically in Winnipeg, Manitoba. This video has been updated to reflect the most recent changes.
Requirements for your application:
- You must also be 18 years old.
- You must be prepared to hang your license with a broker within 6 months of finishing your last course through the Manitoba Real Estate association. - You must complete all of your courses through the Manitoba Real Estate association within a 16 month period.
- Also, if you are planning on getting your real estate license to save on commissions because you want to “flip” homes, you are going to be disappointed. See the video for why.
- You are also going to want to have some money set aside. I would say close to $5000 for coursework as well as registration fees. BUT THEN, you are going to go for some time without any income once you become a Realtor – so figure out what your cost of living is, and factor in a minimum of 3 months of expenses!
Now, let’s get to the courses themselves. To register for these courses, you need to go to the Manitoba Real Estate Association’s Website: realestatemanitoba.com.
You will see there, that there are 4 modules. Three of them (and the first three) are self-study courses that you can complete at your own pace.
Module 1 is an introductory course. It introduces you to some basic concepts of real estate, gets you to do a little math and understanding on zoning and taxation among other things. The cost for this course is $1305. This is the highest of the four modules, and I believe it is because you are given both the Provincial Real Estate Reference manual as well as the Real Estate Encyclopedia as part of the registration fee. You need the books.
Module 2 concentrates more heavily on condominiums, law, agency relationships, and provincial statutory requirements. Sounds fun, right? The cost for this course is $995.
Module 3 focuses more heavily on legislation, whether it be about the Privacy act, tenancy legislation, more on agency relationships, technology, FINTRAC (which you will have to learn to love as you use it daily). The cost for this course is $995.
Now all 3 of these modules are as I said before the self-study modules. At the end of them, you take a final exam and need to get a 70 percent or more to pass. You will take these exams at the same place you picked up your real estate books – the Manitoba Real Estate Association. They have a huge classroom in the back and hold exams weekly. Just a note – these are closed-book exams.
Then, you will take module 4 which is an in-class course hosted at the Manitoba Real Estate Association once a month. There will be two days where you are led by an instructor and discuss professionalism, next steps in your career, etc. There is no exam for this module. AFTER the in-person class, there will be two online-courses that you complete but I hear they are not too difficult. The cost for this module is $650.
So, you are looking at a financial investment of $3945 to complete your coursework.
BUT, that is not the end of the fees. You will still need to pay registration fees to the MSC upon completion of these modules too. Usually that is a cost of about $600 – but depending on when you obtain your license it may be prorated, as we pay for January 1st for the entire year.
Now, you have completed your courses – what do you do!? You technically cannot go out and get your license now. Your license allows you to act under a broker. An employer’s signature is required on your application to register as a licensed salesperson with the Manitoba Securities commission.
A lot of people will start interviewing at brokerages when they are in that Module 3 to Module 4 position, just so they have something lined up when they complete the course.
Some additional tips in researching a brokerage
- Watch their agents. See what they are doing. Is this a group of individuals you want to surround yourself with?
- What kind of training do they provide? Is it structured weekly training?
- Is there a mentorship program?
- What kind of agent do you want to be? How many homes do you want to sell in a year? Do their fees make sense with your goals?
- What is their physical space like? Do they have room for you?
Once you’ve signed with the brokerage, you are officially a salesperson and you can go out there and sell real estate. BUT this is only the beginning.
If you want me to make a video on next steps for getting your business rolling, let me know. I’m happy to make these videos so long as they are helping others!
If you’re new to my channel…. Hello! 👋🏽 I'm Jennifer Queen, a REALTOR® and Team Leader here in the Winnipeg area helping clients and fellow Realtors! 🏡
👉🏽 If you ever have any 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗮𝗯𝗼𝘂𝘁 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗳𝗲𝗲𝗹 𝗳𝗿𝗲𝗲 𝘁𝗼 𝗹𝗲𝗮𝘃𝗲 𝗮 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 𝗼𝗿 𝘆𝗼𝘂 𝗰𝗮𝗻 𝘀𝗲𝗻𝗱 𝗮𝗻 𝗲𝗺𝗮𝗶𝗹 𝘁𝗼 Jennifer@JenniferQueen.com — 𝘐’𝘮 𝘢𝘭𝘸𝘢𝘺𝘴 𝘩𝘢𝘱𝘱𝘺 𝘵𝘰 𝘤𝘩𝘢𝘵 𝘢𝘣𝘰𝘶𝘵 𝘺𝘰𝘶𝘳 𝘳𝘦𝘢𝘭 𝘦𝘴𝘵𝘢𝘵𝘦 𝘨𝘰𝘢𝘭𝘴 🙏🏻
