Phase 2: Fundamentals of Real Estate
Description
This phase contains common education modules for anyone trading in real estate.
Section 1 introduces concepts of working successfully with others. Topics include interpersonal relations, communication skills, conflict resolution and negotiation techniques. Business planning and time management skills are discussed as well as basic marketing and sales techniques.
Section 2 covers the basics of mortgage financing, including the relationship between the borrower and lender, qualification criteria, mortgage types and terminology.
Section 3 discusses the basics of contract law and the obligations real estate industry members owe to clients and customers. Other laws applicable to property ownership, land use control and condominium ownership are described.
Section 4 reviews the Real Estate Act and how it governs the real estate industry.
Section 5 describes environmental issues that can affect a real estate transaction. Industry members must understand these issues and how to protect their clients. This section also discusses risk reduction practices for industry members and various insurance products, including the errors and omissions insurance program for real estate industry members.
Section 6 covers the construction components of buildings, various types of buildings and how to accurately measure their size.
This phase is available either online or in a classroom.
Those wishing to be licensed as real estate associates and who do not intend to conduct property management activities will progress to Phase 3: Real Estate Areas of Practice after completing Phase 2. Those wishing to conduct only property management activities will complete the Introduction to a Career in Property Management in Phase 3: Real Estate Areas of Practice through RECA after completing Phase 2.
Eligibility
Before registering in Phase 2 you must:
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Have completed either Phase 1: Introduction to a Career in Real Estate (prior to September 16, 2011) or Introduction to a Career in Real Estate Information Session with the Real Estate Council of Alberta (RECA)
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Submit proof of an Alberta high school diploma or equivalent (click here to learn more)
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Submit proof of English language proficiency, if applicable (click here to learn more)
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Provide a copy of your birth certificate and a copy of one other piece of identification from the list below.
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Current Canadian Passport
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Canadian Permanent Resident Card
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Canadian Citizenship Certificate
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Alberta driver’s licence
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Canadian Forces ID card
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Government issued ID by another province
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Canadian municipal, provincial, or federal police ID
The last name must match on all eligibility documents. If the last name on the transcript is different from the name indicated on the identification, a proof of name change must be provided, such as a marriage certificate or legal name change document.
These identification documents can be faxed to 403-229-4179, emailed to
education@areahub.ca or mailed to AREA.
Cost
|
Online course cost: $1539.38 (including transaction fees and taxes) |
 |
Please
click here to 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
Mount Royal University
Edmonton
Real Estate Training Institute
Red Deer
Red Deer College
Requirements
If you would like to take this phase
online, we recommend that you complete it within six months of registration.
|
|
Online Option |
Classroom Option |
Exam |
|
Sections 1-6 |
4 Assignments* self-study
plus Environmental Issues Online Module |
16 days full time
(also available part-time evenings and Saturday) |
3 hours** |
*A minimum of 70% is required on assignments to pass.
**A minimum of 70% is required on exams to pass.
You are required to have 90% attendance in the classroom to be eligible to write the Phase 2 exam.
Upon completion of Phase 2, contact an
exam centre to schedule your exam.