How to Work in Canada as a Real Estate Agent
Have you worked in the real estate sector before and been seeking for a change of pace? If so, you might want to think about seeking for work in Canada as a real estate agent.
Canada is a vast country with several opportunities for property development across the board. According to statistics, the real estate sector is expanding quickly, and the Canadian real estate market is rebounding from the 2016–2017 real estate bubble. But this means that there will eventually be many openings for real estate agents in Canada.
Between 200 and 50,900 real estate brokers work in various Canadian provinces and territories, with more than 95% engaged in the rental and leasing business. But if you're a real estate agent seeking employment in Canada. Consider the top five Canadian provinces for exceptional employment prospects and transportation options. As well as that, we'll show you how to work as a real estate agent in Canada.
Provinces to Find Work in Canada as a Real Estate Agent
All across Canada, there is a tremendous demand for real estate specialists. Furthermore, whether or not you have a work offer, you might even be able to obtain a Canadian Permanent Residency. Consequently, as a foreigner seeking immigration to Canada to work as a real estate agent. The best Canadian provinces for employment are shown below.
1. British Columbia
Real estate agents are among the five occupations listed in high demand in British Columbia. In British Columbia, Canada, real estate brokers make about $90,000 a year. There are about 20,000 real estate agents in British Columbia, with more than 95% working in renting and leasing. Additionally, Job Bank Canada reports that the following areas in British Columbia have fair job prospects:
- Cariboo Region
- Kootenay Region
- Lower Mainland-Southwest Region
- Nechako Region
- North Coast Region
- Northeast Region
- Thompson-Okanagan Region
- Vancouver Island and Coast Region
Another province where qualified and seasoned real estate brokers and salespeople are in-demand in Manitoba. Furthermore, in Winnipeg, Manitoba, real estate agents expect to make around $71,371. However, the province has 1,850 persons employed in this field, with rental and leasing accounting for approximately 95% of those jobs. According to Work Bank Canada, there are plenty of job opportunities in Manitoba during the next three years. The following areas of Manitoba have promising employment opportunities:
- North Central Region
- North Region
- Parklands Region
- South Central Region
- Southeast Region
- Southwest Region
Over the next three years, job prospects for real estate brokers and salespeople (NOC 6232) in Ontario are fair. In Ontario, the average yearly salary for real estate brokers is roughly $75,000. More than 95% of the 61,450 workers in this occupation work primarily in the real estate, rental, and leasing industries. Additionally, there are plenty of work opportunities in the following areas of Ontario:
- Hamilton-Niagara Peninsula Region
- Kingston-Pembroke Region
- Kitchener-Waterloo-Barrie Region
- London Region
- Muskoka-Kawarthas Region
- Northeast Region
- Northwest Region
- Ottawa Region
- Stratford-Bruce Peninsula Region
- Toronto Region.
- Windsor-Sarnia Region.
4. Prince Edward Island
If having a beachfront home is something you've always wanted, Prince Edward Island (PEI) might be the best spot for you to hunt for real estate agent employment in Canada. Over the next three years, Prince Edward Island will have plenty of job prospects for salespeople and real estate brokers. In Prince Edward Island, agents typically earn $95,164 per year. Additionally, 200 people are employed in this field. However, the Real Estate and Rental and Leasing (NAICS 53) sectors hire the majority of more than 95% of real estate brokers and salespeople.
Although Yukon may not be on everyone's list of Canadian locations, it is a fantastic chance for real estate brokers or salespeople. In Yukon, real estate agents expect to make about $75,409 annually. However, no information on the employment prospects for real estate agents in Yukon is available.
What are the Requirements to Become a Real Estates Agent?
Moreover, like any other career, there are some prerequisites to becoming an agent in Canada. You must be:
- At least 18 years old
- Graduated from 12th grade
- Be a citizen of Canada
However, there are also some requirements for licensing, such as completing a real estate course and more. You can also read a complete guide on becoming a real estate agent to understand the requirements better.
How Much Does a Real Estate Agent Make in Canada?
Real estate agents in Canada are paid on a commission basis; thus, their pay is determined by how many homes they sell or assist in purchasing. In other words, agents have some control over their income but are also not guaranteed a base wage if no sales are made. Therefore, people who can work evenings and weekends to meet the schedules of buyers and sellers will have more excellent prospects.
However, the average Canadian real estate agent earns $100,000 yearly or $51.28 per hour. Depending on the province or territory you call home, you might make between $24,746 and $134,783 a year. Naturally, that will depend on your background and the province where you are employed. Most experienced workers earn up to $107,021 yearly, while entry-level roles start at $77,500.
The provinces of Ontario and British Columbia, where Toronto and Vancouver are located, offer higher income opportunities for real estate professionals.
Canadian Immigration Options for Real Estate Agents
Since there is a high need for real estate agents in Canada, you could be able to obtain a Canadian permanent residency visa with or without a job offer. However, you must be aware that to be eligible for some Canadian immigration programs, such as Express Entry, you must have a job offer to relocate to Canada. As a real estate agent, you may have additional possibilities to get your Canadian visa immediately.
However, due to the high demand for real estate agents in Canada, which has led to the occupation being included in the targeted occupations list, also known as the NOC list, real estate agents are eligible to obtain Canadian immigration under the Canadian Government's Immigration Program (National Occupation Code In-Demand List). Real Estate Agents Code 6232 is the code for real estate agents on the NOC.
Express Entry for Canada is merely the process used by Canadian Immigration to choose the most qualified applicants for a permanent residency visa. It is not in any way a category of visas. Real estate agents can apply to work in Canada through the Federal Skilled Worker Program as highly skilled workers (FSWP). You must first satisfy the pre-qualification requirements to be eligible for this program. Before receiving their Comprehensive Ranking System (CRS) Score, FSWP applicants must achieve a minimum score of 67 out of 100 points.
The CRS is a method used by Canadian Immigration to rank possible applicants for permanent residency based on various criteria, including age, language proficiency, education, skills, work experience, and others. Your Express Entry profile will be added to a draw pool with other applicants after you receive your CRS score. An invitation to apply (ITA) for PR status in Canada will be sent to those with the highest-scoring profiles.
The Provincial Nominee Program
Workers with the training, education and job experience to support the economy of a particular Canadian province or territory are eligible for this immigration program and want to live there and obtain permanent residency in Canada.
In Canada, there are 11 Provincial Nominee Programs (PNPs) where you can apply for permanent residency. But five, in particular, have named real estate agents a profession in high demand. And through one of the following PNPs, you can be moving to Canada as an experienced agent with a job offer from Canada:
- British Columbia PNP (BC PNP);
- Manitoba PNP (MPNP);
- Ontario Immigrant Nominee Program (OINP);
- Prince Edward Island PNP (PEI PNP); and
- Yukon PNP
Start-up Visa Program
Canada's Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that are innovative, can create jobs for Canadians and can compete on a global scale. Additionally, between 21 and 48 percent of salespeople and agents work for themselves in Canada.
Therefore, if working alone is what you like to do, you are free to do so. However, you will require a broker's license. However, you must use the Start-up Visa Program to apply for your Canadian visa before launching your own real estate company. To be eligible for the Start-up Visa Program, you must:
- have a qualifying business
- get a letter of support from a designated organization
- meet the language requirements
- bring enough money to settle
Real estate job prospects are anticipated to be good due to the projected improvement in economic conditions. Furthermore, there are countless options to work as a real estate agent in Canada. For example, you can apply for permanent residency, take temporary employment with a business, or even launch your real estate enterprise.