RECA launched the first commercial and property management specific re-licensing course Real Estate Update 2018 (Commercial/ Property Management) on February 6. Real estate professionals who want to retain their authorization in commercial real estate or property management must complete the course prior to renewing in September 2018.
This includes all associates who trade in commercial real estate or provide property management services, and all real estate brokers and associate brokers.
Real estate associates who do not have commercial or property management authorizations, or those wishing to drop those authorizations from their licence, do not have to complete this course.
Through industry consultations, surveys, and focus groups, professionals have told RECA they want more specialized, targeted education. In 2016-2017, residential and rural real estate professionals completed a re-licensing course for their sectors, and this year, it’s commercial and property management’s turn.
We estimate Real Estate Update 2018 (Commercial/Property Management) will take professionals 4-6 hours to complete. It’s available online through your myRECA account. To access the course, go to the Education tab, select Course Catalogue from the left menu, and click enroll beside Real Estate Update 2018 (Commercial/Property Management).
Once complete, myRECA will update your education status, allowing you to retain your commercial and property management authorizations after you renew in September.
You can complete the course at your own pace. It includes an introductory video and interactive activities.
This course will help you to better counsel your clients by giving you an understanding of commercial real estate valuation and the various financial analyses used to assess commercial real estate investment potential.
Subject matter experts for the course responded extremely favorably.
Mark St. Pierre of Avison Young Real Estate Alberta said, “The material is greatly enhanced and will be much appreciated by individuals seeking an understanding of commercial real estate.”
Chad Griffiths of NAI Commercial Edmonton agreed: “It is a remarkably well compiled & presented course. Years ago, I completed my Diploma in Urban Land Economics from UBC and wished there was a course like this one. Very well done! The explanation on cap rates was excellent. Probably the best explanation I’ve ever read on the topic.”
This is just the beginning
In late-2018, RECA will launch a second commercial and property management Re-licensing Education Program course that builds on the information from this year’s course.That follow-up course will be the Re-licensing Education Program course during the October 1, 2018-September 30, 2019 licensing period. Commercial and property management professionals, and real estate brokers and associate brokers, will have to complete the second course in order to retain their commercial and/or property management authorizations after the September 2019 renewal.