Not a heck of a lot! For about $3,800, you can get your real estate trading services license in BC.

Plan to also spend another $1,800 for fees to join your local real estate board as well as the Canadian and BC Real Estate Associations. This would bring the total cost to becoming a REALTOR® in BC to a little over $5,600.

That's pretty darn reasonable, especially when you compare it to cost of getting a typical university degree in Canada. According to Statistics Canada's annual survey of Canadian university tuition fees, it costs on average $6,800 for one year of tuition or $27,000 for a four-year university degree in 2018/2019. That doesn't include books either.

Let's take a closer look each of these expenses.

1. Education Costs

There are two courses that you may take to get your real estate license in BC.

• The Real Estate Trading Services Licensing Course
  This course is offered by the University of British Columbia through its Sauder School of Business, Real Estate Division.
  Cost: $1,150.
• Residential Trading Services Applied Practice Course
  This course is offered by the BC Real Estate Association. You can choose to take either the Residential or Commercial option.
  Cost: $918.75

Optional Training

There are also many different optional courses that are available from third party private companies in BC such as the BC Academy of Real Estate, Excel Realty Academy, Real Smart Real Estate Training, as well as through our online tutorial course, Realtytutor1000.com.

We've developed Realtytutor1000.com to be an affordable "add-on" course to complement the required Real Estate Trading Services Licensing course. Our program helps students study more effectively using their UBC Real Estate Exam Study Guide. It can also be used in conjunction with 3rd party private courses.

Costs: Vary widely and range from only $94 for Realtytutor1000.com to over $1,000.

2. Licensing Fees

After you have completed the required courses, and passed your real estate exam, you must pay licensing fees to the Real Estate Council of BC. It's kind of like getting your driver's license. Once you have it, you must pay to keep it current.

• First-Time License Fee
  Cost: $1,800.
• License Renewal Fee (every two-years)
  You need to also pay relicensing fees every two years if you plan to practice real estate. The relicensing fees vary based on whether you keep your license current or have let your license lapse for 90 days or longer.
  Cost: Vary from $1,450 - $1,800. For more details on the Licensing Fees, click here.
• Licensing Training (every two-years)
  You must also take relicensing educational courses, which include a Legal Update.
  Cost: $288.75.

Costs: $1,800 for a first-time licensee. Relicensing fees vary from $1,450 to $1,800.

3. Real Estate Association and Board Fees

If you want to call yourself a REALTOR® in Canada, you must be a member of the Canadian Real Estate Association (CREA). You will also need to join a local real estate board as well as the BC Real Estate Association (BCREA). There are 11 local real estate boards in BC and each may have different membership fees. For more information on their fees, click here.

Costs: Entrance and Annual Membership Fees $1,802.50
(based on joining the Real Estate Board of Greater Vancouver, CREA and BCREA.)

4. Brokerage Costs

In order to be a practicing real estate agent, you must also pay the costs involved in joining a brokerage. There are many different ones to choose from, such as the Sutton Group-West Coast Realty, Oakywn Realty, RE/MAX, and Sotheby's International Realty, to name a few.

The pricing structures that used by brokerages vary considerably. For example, some brokerages charge a set monthly desk fee, others may charge a commission fee for every transaction while others charge a combination of a desk fee and commission split. Most charge a deal fee as well. All brokerages have their own ways of operating, so when doing your research be sure to ask them what their pricing fees are and how they operate.

Costs: Vary by brokerage and may include monthly desk fees, commission splits and/or deal fees.