Becoming a Real Estate Agent: The Good, Bad, and Ugly

With the real estate market booming, a growing number of Canadians have decided to pivot and become real estate agents. You see shows like Flip or Flop and they make it look so easy to sell a house and make a gigantic commission. But is it all it’s cracked up to be?

We asked Bernice Dubon to give us the lowdown on becoming a real estate agent: The good, the bad and the ugly of it. Bernice is a Calgary-based REALTOR®: A licensed member of the Canadian Real Estate Association, CREA.

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You Don’t Get Paid Every Two Weeks

You only get paid once the job is done. Until then, you have to put in time and effort and you may work with a buyer or seller for months or even years, depending on the housing market. You have to pay the expenses of running your business. You get your cut of the deal only after the client has moved into the home, the lawyers have dispersed proceeds from the sale and the brokerage has taken their fees.

Realtor looking at paperwork of real estate business, such as expenditures

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Your Expenses Are Many

When you ask yourself, “What do I need to become a REALTOR®?” it’s easy to think your expenses will mostly be getting your licence. However, you also have to pay monthly brokerage fees, local real estate board fees, provincial and national real estate dues. Then, there are the costs of running your business – advertising, for example. These bills don’t go away when the market is slow and you haven’t sold a house in months.

Realtor and clients in front of a sold sign

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You Get to Work With People at Their Happiest

Buying or selling a home generally isn’t something people do flippantly. It more often happens in tandem with major life changes: A new job that finally brings in enough money to buy a first home, starting a new life with a significant other, needing a bigger home because there’s a baby on the way, etc. Sharing in clients’ joy when that deal goes through can be a great reminder of why becoming a real estate agent was a good career move.

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You Also Work With People at Their Lowest

People may also have to buy or sell a home when they’re at a low point in their lives: Downgrading after divorce, selling a beloved family home they grew up in because of illness or death, needing a more accessible home because of health or mobility issues, not being able to afford the home anymore and more. As a real estate professional, you have to be able to help families navigate these challenges with skill and compassion while working to protect their best interest.

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You Set Your Own Hours

One reason “How to become a real estate agent in Canada” has become such a popular Google search is that it’s rarely a 9-to-5 job. In fact, as a business owner, you get to set your own hours and decide how much you want to work.

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You May Not Get to Set the Most Convenient Hours

Sure, you get to set your own hours. But you also have to adapt to your clients’ schedules. This means that your busiest times will often be when everyone else is off work: Evenings, weekends and even holidays. Unless you set clear and firm boundaries right from the start, clients may call you at odd hours and expect you to drop everything to attend to them, never mind that your kids were busy gathered around the Christmas tree for present-opening time.

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You Get to Work With People You Like

Of course you’re going to meet some difficult clients but you don’t have to keep them on. The good clients – the people that you like – are the ones that you can build a relationship of trust with over time. When they know you’re looking out for their interests, they’ll come back to you next time they need to buy or sell an investment property – and the time after that, and the time after that.

Realtor handing over keys to a young couple

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The Job Can Be Rewarding Even in Little Ways

You’ll find all kinds of ways in which being a real estate agent can be rewarding: You meet new people from all walks of life, for instance, and gain new perspectives and experiences. There’s also the sense of purpose and fulfillment when possession day arrives and you get to hand over the keys to their dream home to those clients you’ve been working with for months. Essentially, you’re opening the door for clients to step into their future.

Person looking forward to Monday morning

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“Sunday Night Blues” Who?

You know that feeling of something between dread and sadness that comes on a Sunday night. You know, when you realize you’re just one sleep away from Monday and another week of drudgery at work? That feeling is rare in real estate. Sure, your work week seldom starts on a Monday anyway. But when you’re a good REALTOR®, drudgery will be rare too. Outside factors like the pandemic can bring unexpected trends. And every day brings new and different challenges that require creative thinking.

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How Do I Become a REALTOR®?

How to become a REALTOR® in Canada varies from one province to another. Usually you’ll need a certain minimum education level: You can now even take college or university courses in real estate. You may also need supervised practical training, similar to the articling aspiring lawyers have to do. Once you’ve passed a written exam, you can get a licence in your province. From there, you need to become a member of a local real estate board and of CREA to be a REALTOR®.