Understanding your financial commitment upfront is essential. Here’s a transparent breakdown of all costs—expected and hidden—so you can plan for a successful first year.
Major Costs
1. Education (Humber College Real Estate Program)
- Tuition & fees: $4,000–$4,250
Details: Humber College Fees
2. Exams & Prep Materials
- Practice guides, sample exams: $200–$500
- Optional third-party prep: Passit Pricing
3. Initial RECO Registration
- $590 for your application and licensing
Learn more: How to Get a Real Estate License in Ontario
Ongoing Fees
1. Brokerage Desk Fees & Splits
- Desk/technology fees: $50–$500/month
- Commission split: 70/30 or 80/20 is typical
More: How Real Estate Commission Splits Work in Ontario
2. Association Dues
- Local board, OREA, CREA: $1,800–$2,500/year
3. Insurance
- RECO mandatory Errors and Omissions: ~$400/year
RECO Insurance Requirements
4. Marketing & Business
- Cards/signage: $250–$1,000
- Website, photography, CRM setup: varies
5. Continuing Education
- $200–$500/year
Mandatory CE
For more on hidden and surprise expenses: The Top 10 Hidden Expenses for Ontario Real Estate Agents
