Smart agents will become brokers

by Olivia D'Orazio25 Nov 2014
It’s perhaps the most controversial bit of advice agents are likely to get from the head of one of Canada’s most successful brokerages ever, but is it the most valuable?
If you plan on being a successful real estate professional, you’ll get your broker designation, says Tom Bosley, the broker of record of Bosley Real Estate, arguing the higher education can better agents, no matter where they are in their careers.
“To run a real estate company, you must be a broker,” says Tom Bosley, the broker of record of Bosley Real Estate. “We have two levels – a registrant and a broker – and I think everyone should have the broker platform.”
Bosley earned his own broker designation in 1972 after two years in the business. He knew he wanted to run his own real estate company, so the broker designation was something he inevitably had to have, he says.
There’s not much to it, either, he says.
In Ontario, agents must complete the real estate broker course, which takes a closer look at law, regulations and economics, and one other elective – that is, a courses delving deeper into concepts revolving around appraisals, investment analysis, mortgage financing or property management.
In British Columbia, agents must be licensed for at least two years, and practising for at least six months, before taking the broker’s business planning and financial management course.
Despite the courses being costly and time-consuming, Bosley says all agents would benefit from these subjects, no matter their level of experience.
“I would think that anybody who is calling this a profession and who is in it as a full-time business,” Bosely says, “that it wouldn’t hurt anybody to take the courses.”

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