Phase 3: Real Estate Areas of Practice

Online

This phase contains three sections (Residential, Commercial and Rural Real Estate) delivered through AREA and one section (Introduction to a Career in Property Management) delivered through RECA.
 
Residential Real Estate introduces the learner to the role of a real estate industry member conducting residential real estate trades. The primary tasks of a residential real estate industry member are to prospect for clients, qualify the clients’ needs and wants, list and show properties, prepare offers, negotiate offers and follow up as required to reach a completed transaction. Understanding and satisfying the requirements of various types of residential clients is discussed. Use of the documents and forms in case study activities further the understanding of their purpose of creating a legally binding contract.
 
Commercial Real Estate describes the specific talents and skills required in a commercial career. These industry members must understand the unique advantages of investing in commercial, industrial and investment properties, the basis of investment decision-making and the ownership options available to buyers and sellers. Each area of commercial practice has its own distinctive characteristics.
 
Rural Real Estate discusses the complex area of selling rural, recreational and agricultural properties which require specialized knowledge and expertise. Rural industry members must have knowledge about land issues, including legislation, economics, development feasibility, productivity capability, environmental issues and other information to form a professional opinion for highest and best use.
 
Those who complete only the three sections offered through AREA will not be licensed to conduct property management activities.
 
Courses are available either online or in a classroom.
 
Prerequisite
 
You must meet all eligibility requirements and complete the Introduction to a Career in Real Estate information session  and Phase 2 or Fundamentals of Real Estate (including corresponding exam) before taking Phase 3.

Please review the online course Computer Requirements before you register for the online course.

Classroom course cost:

Please click on the following delivery institutions for the cost and the classroom schedules.

Calgary
Calgary Real Estate Board
Real Estate Training Institute


You may register for all three sections together or separately and in any order.

Requirements

If you choose to take the courses online, ensure you complete the entire program (including exams and rewrites, if required) within 18 months of your registration date for Phase 2.

	Online Option	Classroom Option	Exam
Section 7 - Residential Real Estate	4 Assignments* plus Risk Reduction online module	7 Days	3 hours**
Section 8 - Commercial Real Estate	4 Assignments*	7 Days	3 hours**
Section 9 - Rural Real Estate	2 Assignments*	5 Days	2.5 hours**

*A minimum of 70% is required on assignments to pass.
**A  minimum of 70% is requred on exams to pass.

You are required to have 90% attendance in the classroom to be eligible to write each Phase 3 exam.

Upon completion of each Phase 3 section, contact an exam centre to schedule your exam.

Online course cost: $615.75 per section (including transaction fees and taxes)

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