The “hidden” costs of being an agent are one of the most overlooked parts of a new real estate career.
1. Association Dues
Annual membership for OREA, CREA, and your local board: $1,800–$2,500.
2. Desk and Brokerage Fees
Monthly payments for using brokerage services and technology: $50–$500/month.
3. Errors and Omissions Insurance
Required by RECO, typically $400–$600/year.
4. Marketing
Branding, brochures, ads, social media, and cards: $1,000+/year.
5. Client Gifts
Gifts for clients, events, and open houses: variable, often $100–$1,000 annually.
6. Continuing Education
Licensing and update courses: $200–$500/year.
7. Vehicle Expenses
Traveling for showings and meetings is not reimbursed.
8. Office Supplies and Technology
Printers, computers, cell phone plans, CRM systems.
9. Professional Photography and Staging
To produce high-quality listings (costs passed to agent when brokerage doesn’t cover it).
10. Taxes
Set aside income for quarterly tax instalments. Read our A Guide to Taxes for Real Estate Agents in Canada.
External References and Deeper Reading
- Rosentax Law – Business Expenses for Real Estate Agents
- CRA – Guide RC4110 for Realtors
- HomeFlippers – Hidden Costs
See more: The Top 10 Hidden Expenses for Ontario Real Estate Agents