Canada's Condominium Magazine
The Real Estate Council of Ontario (RECO) has announced the winner of its RFP for a new Registration Education provider. The regulatory body will inaugurate its new program for salespersons beginning in 2020, ending its long-standing relationship with the Ontario Real Estate Association (OREA) which has provided the service through its Real Estate College for over sixty years. In a statement, the OREA college promises to work with the new education provider during the transition for the benefit of both realtors and consumers. CEO Tim Hudak commented that the organization will “aggressively” work to help realtors by pushing for higher standards in the profession. Students will be allowed to continue in the OREA Registration Education Program until December 31, 2020.
The new provider is a consortium of Humber College Institute of Technology & Advanced Learning (Humber College) and NIIT Canada. Humber College was established in 1967 and now offers programs to over 29,000 full-time students. NIIT Learning Solutions (Canada) is a subsidiary of NIIT Limited, a provider of multi-disciplinary learning management and training delivery to institutions and corporations in over forty countries.
Strong registration education provides registrants with the fundamentals of trading in real estate. The New Program will enable aspiring registrants to be more practice-ready when they enter the profession and fulfil their duties and obligations in providing consistent high-quality service to consumers.
Calling the selection a “milestone,” RECO says it comes after a four-year process of research and consultation with the real estate profession, education providers and regulators, publication of a white paper on RECO’s vision for the education program, and the issuing of an RFP. RECO was assisted in its search by global consulting firm Deloitte Inc.
Anyone wishing to become a registered real estate agent in Ontario must complete the registration education program, which teaches the fundamentals of trading real estate. According to RECO, the new program will enable aspiring registrants to be more “practice-ready” when they enter the profession and provide high-quality service to consumers.
The new program, which will be available across Ontario in physical and virtual classrooms, and via eLearning. Among its many advantages, says RECO, will be new learning paths that will follow the flow of a real estate transaction, providing students with a practical understanding of every aspect of a real estate trade.
It will also leverage innovative technologies for course delivery, such as augmented reality (computer based interactive learning) that emulates real-life activities of the salesperson. Simulation sessions will assess students’ application of the new program content where they can practice elements of a transaction in a structured and interactive classroom environment, in preparation for providing compliant and high-quality service to consumers.