A career in real estate offers a range of paths, including residential or commercial trading, commercial leasing, investment real estate, and counselling or research roles. Before pursuing this career, it’s important to carefully consider the financial, professional, and regulatory requirements involved.

Expenses & Income

Starting a career in real estate involves both upfront and ongoing costs. These may include licensing course fees, licence fees, association dues (if applicable), brokerage desk fees, errors and omissions insurance, and general business expenses such as transportation, cell phone, computer, etc.

Income is typically commission-based, meaning there is no guaranteed income. It can take time to build a client base and generate consistent earnings. You should ensure you have sufficient financial resources to support yourself during this start-up period.

Compensation models vary between brokerages, so it’s advisable to speak with several to understand their fee structures and determine what works best for you.

Suitability for Licensing

Under the Real Estate Trading Act, applicants must meet the standards set by the Commission. The Registrar may refuse a licence if an applicant:

• Provides false or misleading information in their application
• Has an unsatisfied judgment related to a public complaint from prior licensing
• Is otherwise not considered suitable or not in the public interest to license

Applicants must disclose all criminal charges and convictions, including discharges. These do not automatically prevent licensing; each case is assessed individually.

Choosing a Brokerage

To be licensed in Nova Scotia, you must be licensed with the Nova Scotia Real Estate Commission and employed by a brokerage.

Brokerages differ in their fee structures, culture, and operations. Speaking with multiple brokerages will help you find the right fit. You may also contact the Commission’s compliance department to review the discipline history of any broker you are contemplating working for.

When applying for a licence, you must name the brokerage you intend to join. Once licensed, you may change brokerages if needed.

You cannot trade in real estate independently—any business must be conducted through and in the name of your brokerage.

Licence Prerequisites

Refer to the most current licensing prerequisites for first-time applicants.