OREA targets knowledge gaps with new course on real estate forms

The Ontario Real Estate Association (OREA) has developed a new course to help agents brush up on the forms and clauses that are critical to their day-to-day work. 

OREA, in partnership with Humber Polytechnic, has launched a four-week course called Mastering OREA Forms: A Practical Foundation for Real Estate Transactions.

Cathy Polan, OREA’s president, said she had been hearing from brokers and seasoned real estate pros that some new agents coming out of the training programs do not have a firm grasp on how to use forms and clauses properly.

“We want to ensure that they could have the practical knowledge, and that’s how we came about the course,” Polan told Real Estate Magazine.

One cohort has already graduated from a pilot phase of the program. Registration for the course has now opened with a start date of Jan. 19 at a cost of $560.

Knowledge gaps create risks

The course covers a range of topics, including OREA’s forms and their role in real estate,  representation agreements and purchase and sale agreements.

“These contracts are legally binding. We need to know that people coming out of the colleges are able to write an offer up and do it professionally,” said Polan.

Completion of the Real Estate Salesperson Program is a prerequisite for applying for registration through the Real Estate Council of Ontario (RECO). The program is approved by RECO, the real estate regulator, and provided by several colleges in the province.

Asked if the real estate training that new agents are getting is doing an adequate job to prepare them for the field, Polan said, “I’m not sure if it’s up to snuff.”

“I think they could go a little bit further. I think they work within the curriculum that they have, and I think there’s an opportunity to strengthen the courses,” said Polan.

Book smart meets street smart 

Polan said the best way to prepare agents is by combining classroom learning with real-world experience under the guidance of a more experienced professional. Having a mentor helped set her own career on the right path, she said. 

“Humber has taken a step with us to ensure that their agents taking this course are coming out on top, because they are ready to go out and actually make a deal where,” she said.

“What I will also say is, I think every agent should work with a mentor to ensure that you get the right education on the street, not just in the books.”

Polan said they will continue to offer the new course for as long as they have people signing up.

OREA also offers the course Effective Leadership in Associations: Roles, Governance and Collaboration.