Posted by on July 22, 2012
The educational model for becoming a real estate agent in the province of Saskatchewan changed on July 1, 2012. This post outlines the new requirements for entry with the most recent costs. All requirements and prices are valid at the date of publication and are subject to change, without notice, at the discretion of the organizations and associations responsible.
Provincial legislation in Saskatchewan states that anyone wishing to represent members of the public in a real estate trade in Saskatchewan must be registered. The Saskatchewan Real Estate Commission (SREC), an independent, non-government agency, responsible for regulating the real estate industry in Saskatchewan, mandates qualifications for registration.
First of all, people wishing to become registered to trade in real estate as a sales person must have completed Grade 12, or equivalent.
Secondly, prospective registrants must complete a home study course known as Real Estate as a Professional Career, which is offered by the Association of Saskatchewan Realtors? (ASR). Enrolled students have one full year to complete the program. Before the conclusion of the one-year period they must present themselves for an examination and obtain a mark of at least 70%.
Once they have completed Real Estate as a Professional Career, prospective registrants must complete the following specialty courses.
- Residential Real Estate as a Professional Career
- Commercial Real Estate as a Professional Career
- Farm Real Estate as a Professional Career
All three of the specialty programs are offered by the ASR on a home study basis. Enrolled students have two full years to complete all three specialty programs. Before the conclusion of the two-year period they must present themselves for an examination on each program and obtain a mark of at least 70%.
Students wishing to practice in the field of property management must also complete the following course. The cost of this course is the same as the other three specialty courses outlined below.
- Property Management as a Professional Career
Once a person completes the mandatory courses they qualify to apply for registration to trade in real estate within the province of Saskatchewan. An application for registration as a licensed salesperson, signed by an employing broker, must be made to the SREC within two years of successfully completing the chosen specialty course. Applicants must produce proof of having obtained a Grade 12 or equivalent, and a completed criminal record check.
| Cost | GST | Total | |
| MandatoryEducational Courses | |||
| Real Estate as a Professional Career | $958.10 | $47.90 | $1,006.00 |
| Examination Fee | $155.00 | $0.00 | $155.00 |
| Residential Real Estate as a Professional Career | $479.52 | $23.98 | $503.50 |
| Examination Fee | $155.00 | $0.00 | $155.00 |
| Commercial Real Estate as a Professional Career | $479.52 | $23.98 | $503.50 |
| Examination Fee | $155.00 | $0.00 | $155.00 |
| Farm Real Estate as a Professional Career | $479.52 | $23.98 | $503.50 |
| Examination Fee | $155.00 | $0.00 | $155.00 |
| Total Cost for Mandatory Educational Courses | $2,981.50 | ||
| Provincial Licensing and Related | |||
| Registration for Salesperson License | $315.00 | $0 | $315.00 |
| Mandatory Errors and Omissions Premium | $275.00 | $0 | $275.00 |
| Real Estate Assurance Fund Levy | $100.00 | $0 | $100.00 |
| Total Cost for Provincial Licensing and Related | $690.00 | ||
| Other Incidental Costs | |||
| Criminal record check | $25.00 | ||
| Total estimated cost to become a real estate agent in SK. | $3,696.50 |
In addition, within each one-year registration renewal period, all registrants are required to complete mandatory continuing education known as the Continuing Professional Development (CPD) Program approved by the Commission and provided by the ASR.
Becoming a REALTOR?
The majority of the real estate companies in Saskatchewan, particularly those located in the urban areas are REALTORS?, and all of the sales people that they employ must also be REALTORS?. In addition to expanding the potential opportunities that might exist for a real estate registrant, choosing to practice as a REALTOR? also provides access to the Multiple Listing Service? (MLS?), a sophisticated system for sharing property information and commissions with other REALTOR? members. In a nutshell, the MLS? provides agents with easy access to a large inventory of homes for sale, and access to a large number of sales people for the homes an agent may have listed for sale. Agents use this system to cooperate with each other for the aforementioned benefits and typically share commissions when they successfully bring a buyer and seller together to complete a real estate transaction.
Becoming a REALTOR? requires a registrant to become a member of the Saskatoon Region Association of Realtors?, the Association of Saskatchewan Realtors?, and the Canadian Real Estate Association (CREA). Members must commit to conduct their business in accordance with the rules and regulations of each organization, and the Code of Ethics of the CREA.
Here are the costs associated with becoming a member of these organizations.
| Cost | GST | Total | |
| Real Estate Association Joining Dues | |||
| Saskatoon Region Association of REALTORS? | $300.00 | $15.00 | $315.00 |
| Association of Saskatchewan REALTORS? | $300.00 | $15.00 | $315.00 |
| Canadian Real Estate Association | $200.00 | $10.00 | $210.00 |
| Total Cost for Real Estate Association Joining Dues | $840.00 | ||
| Annual Real Estate Association Dues | |||
| Saskatoon Region Association of REALTORS? | $50.00 | $2.50 | $52.50 |
| Association of Saskatchewan REALTORS? | $320.00 | $16.00 | $316.00 |
| Canadian Real Estate Association | $290.00 | $14.50 | $304.50 |
| Total Cost for Annual Real Estate Association Dues | $673.00 | ||
| Post Licensing Education Requirements | |||
| Saskatoon Region Association of REALTORS? New Member Course | $549.00 | $27.45 | $576.45 |
| Total additional costs to become a REALTOR? | $2,089.45 |
That?s a brief overview of what it takes to become a real estate agent in Saskatchewan, and to become a REALTOR? in Saskatoon. If you have questions, or are interested in exploring a career in Saskatoon real estate I?d be happy to hear from you. My contact information is here.
Other resources
Association of Saskatchewan Realtors? website
Association of Saskatchewan REALTORS Career Guide (a must read)
Saskatchewan Real Estate Commission website
Canadian Real Estate Association website
Royal LePage Real Estate Career website
Please note that the estimated costs outlined above were valid at the date of publication and are subject to change, without notice, at the discretion of the billing organizations.
Norm Fisher
Royal LePage Saskatoon Real Estate
Source: http://teamfisher.com/how-to-become-a-real-estate-agent-in-saskatchewan-update-2012/
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