What to Expect

There are many different business models employed by real estate brokers and you are encouraged to learn as much as you can prior to deciding on which model fits your personal circumstances. NLAR adheres to CREA’s Pledge of Competition and encourages a diversity of business models in our membership.

Beginning a career in real estate is not like getting a traditional job with a paycheque. In almost all cases, there is no employer-employee relationship between the agent and the broker. 

Canada Revenue Agency views a real estate salesperson as an independent contractor. So as you plan, you should think about your real estate career as a business you are building, not a job you are getting.

Regardless of where you eventually find your place, there are certain start-up costs that all new members will incur, in addition to any fees or charges your broker may levy.  

Entry Costs

 Education/Licensing OrganizationFee 
 Pre-Licence Course Registration (non-refundable, non-transferable) NL Association of REALTORS®$2,000 
 Real Estate Recovery Fund Service NL – Licensing Dept     $250 Salesperson / $450 Broker 
 Licence fee Service NL – Licensing Dept        $200 
 Total (Education/Licensing) approx. $2,450 Salesperson / $2,650 Broker 

Real Estate Association Fees 

Upon successfully passing the pre-licence program and attaining their licence, individuals would then be permitted to join the provincial real estate Association. Fees are payable directly to the Newfoundland and Labrador Association of REALTORS® (NLAR).

Fees to join NLAR fluctuate slightly according to the time of year someone joins. However, an approximate overview of the fees would include: 

 Start–Up Fee DescriptionOrganizationFee 
 NLAR Entrance feeNLAR$500 
 NLAR Quarterly feeNLAR$58 
 CREA Entrance feeCREA$200 
 CREA Quarterly feeCREA$310 
 Errors and Omissions Initiation FeeREIA$100 
 Errors and Omissions InsuranceREIA$515 
 Total (start-up) $1683 
  • All fees are subject to 15% HST
  • CREA – The Canadian Real Estate Association
  • REIA – The Real Estate Insurance Association

Other Start-up Costs  

As a new business you will have to invest in development of your branding material, website, business cards, etc. Other costs will undoubtedly include technology such as a computer or tablet, smartphone, etc. 

You should also talk to your broker about what to expect in terms of training and goal setting for your real estate business. It usually takes several months for new entrants to complete their first sale and earn their first income. In your planning and budgeting you should be prepared to earn very little income in your formative year or two as you establish yourself in our industry.

Fees updated: April 2023