What You Need To Know About A Career In Real Estate | Royal LePage - Royal LePage


Q: How much money do I need to start?

A: See our Cost Guide, however, it is recommended that a new realtor has 3-6 months cash reserves in addition to their startup costs.

Q: What can I expect to earn in my first year?

A: You are only paid on a commission basis, so you can earn anywhere from $0 to in the millions. The average REALTOR® in Winnipeg sells approximately 9 homes per year (~$40,000-$60,000). However, the average REALTOR® at Royal LePage sells approximately 20 homes per year.

Q: Are there any educational pre-requisites?

A: No. Basic math skills are needed, but no formal education required.

Q: How long do I have to take the courses?

A: You will have one year to complete all three phases. Phase 1 must be completed within four months of registering.

Q: Do I have to work for a brokerage?

A: Yes. You must be employed by a registered brokerage in order to obtain your real estate agent license.

Q: Can I be a real estate agent and have another job?

A: No. In Manitoba, you are required to be a full time real estate agent. What this means is that you cannot have another job that requires so much time from you that you are no longer able to offer “full time service” to your clients. However, as a REALTOR®, you are allowed to own other businesses, investments, etc.

Q: After I finish the courses, what happens next?

A: Upon successful completion of the three phases, you will need to choose a brokerage to start your career, and begin training. Click here to learn about how Royal LePage can help you get started.

Q: What tools & technology will I need to be successful?

A: It is highly recommended to have a smart phone such as an iPhone, Blackberry or Android, but at bare minimum have a working cellphone. A laptop may or may not be necessary depending on which brokerage you work at. An iPad, or other tablet are nice to have but not absolutely necessary.

Q: Can I be an assistant?

A: Yes. You can be a licensed or an unlicensed assistant. As a licensed assistant, you can perform all the duties of a REALTOR®, but work on a team. The team leader will negotiate a commission structure with the assistant. An unlicensed assistant may perform secretarial and administrative duties, but cannot negotiate an offer, show a home, or prospect clients.

Q: Is there a class room option?

A: No. The Manitoba Real Estate Association no longer offers this. All courses are via correspondence.

Q: How quickly can I finish the courses?

A: There is no minimum time requirement.

Q: Can I call for help?

A: Absolutely! We’d love to speak with you if you have any questions during the courses. We’re here to help.