Start-Up Costs

Start-Up Costs

Real estate is a demanding profession with high standards. Those standards are maintained through comprehensive education and experience requirements, and supported by the services of several organizations at the provincial and real estate board levels.

The following is a brief summary of the start-up costs associated with a career in real estate. For more information, new or potential REALTORS® should consult:

Contacting a real estate brokerage may also help potential REALTORS® learn more about the business.

Provincial Fees
These fees are payable directly to the organizations noted.

Education/Licensing
Organization
Fee
Licensing Course
Financial calculator
Real Estate Division, Sauder School of Business, the University of British Columbia  1075.00
60.00
Licencing fee and assessments (two years) Real Estate Council of British Columbia 450.00
Errors & Omissions Insurance 700.00
Real Estate Compensation Fund Assessment 100.00
Residential Trading Services Applied Practice Course or the Commercial Trading Services Applied Practice Course (includes GST) British Columbia Real Estate Association 708.75
Total (start-up) $ 3,093.75
Every two years after start-up $ 1,250.00

Real Estate Board Fees
These fees are payable directly to the local real estate board and vary throughout the province. They include:

Fee Description
Fee
GST
Total
BCREA new member initiation fee 495.00 24.75 519.75
BCREA annual dues 232.00 11.60 243.60
The Canadian Real Estate Association (CREA) new member installation fee 200.00 24.00 224.00
CREA annual dues 246.00 12.30 258.30
Total (start-up)
$ 1173.00
$ 72.65
$ 1245.65
Yearly after start-up $ 678.00 $ 47.90 $ 725.90

Additional real estate board fees may include a board initiation fee, board monthly/annual dues and listing fees.

Check with your local board for specific fee information.

Other Expenses
The following may also apply:

  • Mobile phone
  • Computer and printer
  • Contact management software
  • Website, business cards and other promotional materials
  • Business automobile insurance
  • Business attire
  • Desk and transaction fees
  • Criminal record check (for licence application)