OREA, in partnership with Humber Polytechnic, has launched a four-week course called Mastering OREA Forms: A Practical Foundation for Real Estate Transactions.
Cathy Polan, president of OREA, said she has heard from brokers and seasoned real estate professionals that some new agents coming out of training programs do not have a good understanding of the proper use of forms and clauses.
“We want to make sure they can get the practical knowledge, and that’s how we came up with the course,” Polan told Real Estate Magazine.
One cohort has already completed a pilot phase of the program. Registration for the course is now open with a start date of January 19th and costs $560.
Knowledge gaps create risks
The course covers a range of topics including OREA’s forms and their role in real estate, representation agreements and purchase and sale agreements.
“These contracts are legally binding. We need to know that people coming out of colleges are able to make a bid and execute it professionally,” Polan said.
Completion of the Real Estate Salesperson Program is a prerequisite for applying for registration through the Real Estate Council of Ontario (RECO). The program has been approved by RECO, the real estate regulator, and is offered by several colleges in the province.
When asked if the real estate training new agents receive does enough to prepare them for the field, Polan said, “I’m not sure it’s up to snuff.”
“I think they can go a step further. I think they are working within the curriculum that they have, and I think there is an opportunity to strengthen the courses,” Polan said.
Book smart meets street smart
Polan said the best way to prepare officers is to combine classroom learning with hands-on experience under the guidance of a more experienced professional. Having a mentor has helped her put her own career on the right track, she said.
“Humber has taken a step with us to ensure that their agents who take this course come out on top because they are ready to actually close a deal,” she said.
“What I also want to say is, I think every officer should work with a mentor to make sure you get the right training on the street, not just in the books.”
Polan said they will continue to offer the new course as long as there are people who sign up.
OREA also offers the course Effective Leadership in Associations: Roles, Management and Collaboration.
Courtney Zwicker is a digital reporter and associate editor for REM. Based in Atlantic Canada, she has more than a decade of experience covering daily business news.
#OREA #addresses #knowledge #gaps #real #estate #types