BROKER'S LICENSING EDUCATION PROGRAM Course: Real Estate Office Management Fee: View our Fee Guide Method of Study: home study or online Time Limit: within six months or less of enrollment date Prerequisite: Completion of Phase 1, 2, and 3 of Real Estate as a Professional Career program, Real Property Law, and Principles of Appraisal Program Description This course covers the following topics: The Real Estate Profession in Manitoba Planning for a Real Estate Brokerage Establishing the Brokerage Information Systems for the Real Estate Office Personnel Management Compensation and Incentive Plans Leadership and Communication Marketing and Advertising   Course: Accounting and Financial Management in a Real Estate Office Fee: View our Fee Guide Method of Study: home study or online Time Limit: within six months or less of enrollment date Prerequisite: Completion of Phase 1, 2, and 3 of Real Estate as a Professional Career program, Real Property Law, Principles of Appraisal, and Real Estate Office Management Program Description This course provides a review of the elements of an accounting system, including chart of accounts, debits and credits, journals, ledgers, trial balance, financial statements, etc., financial ratios, trust accounting, commission trust accounts, payroll guidelines, tax considerations, expense tracking, etc. This course covers the following topics: Accounting and Financial Statements Trust Accounting Budgets and Budget Preparation Accounting and The Property Manager Financial Administration and Management Taxation The Goods and Services Tax (GST)   Course: Risk Management in a Real Estate Office Fee: View our Fee Guide Method of Study: home study or online Time Limit: within six months or less of enrollment date Prerequisite: Completion of Phase 1, 2, and 3 of Real Estate as a Professional Career program, Real Property Law, Principles of Appraisal, Real Estate Office Management, and Accounting and Financial Management in a Real Estate Office Assignment: In lieu of an examination, a comprehensive assignment must be completed to receive credit for this course. Program Description This course covers ethical responsibilities and professional conduct, critical risk issues in real estate, ways to reduce risk in office management, ways to reduce risk in managing real estate transactions, ways to reduce risk when managing people, the Privacy Code and its implementation in a real estate office, and the Association's Errors and Omissions Insurance Program. This course covers the following topics: Overview of Risk Issues Working Within the Legal Framework Real Estate Specialty Areas Privacy Code Reducing Risk Through Effective Office Management Reducing Risk Through Effective Management of Real Estate Transactions Reducing Risk Through Effective Personnel Management Errors and Omission Liability Insurance Program   POLICIES AND PROCEDURES Purpose and Objectives Real Estate Brokerage is the pre-licensing course in Manitoba for individuals intending to become registered under the Real Estate Brokers Act (the Act) as a broker or an authorized official by a real brokerage company or partnership. The course is administered by The Manitoba Real Estate Association on behalf of The Manitoba Securities Commission. Real Estate Brokerage provides individuals the opportunity to acquire the necessary educational knowledge and skills to effectively manage a real estate office. Program Any real estate salesperson wishing to become licensed as a real estate broker or authorized official must complete the following: - Real Property Law - Principles of Appraisal - Real Estate Office Management - Real Estate Accounting and Financial Management - Risk Management in Your Real Estate Office The content of the latter three brokerage courses adhere to the National Core Curriculum for Real Estate Brokers, published by the Alliance for Canadian Real Estate Education. The Real Estate Encyclopedia The Real Estate Encyclopedia is an integral part of the education programs offered by The Manitoba Real Estate Association, as well as a unique resource to assist real estate practitioners. A current encyclopedia is required for all courses. Time Limit Students must complete the broker's licensing education program within two years of the original start date of Real Estate Office Management. Students must then register with The Manitoba Securities Commission within six months of completing the broker's licensing education program. Failure to register within this time frame may result in you having to challenge the course before being eligible to become licensed as a broker or authorized official. Examination There is a three-hour examination for each course, which is based on content of the workbook and the material referenced in the encyclopedia for that course. The pass mark is 70%. Examination centers are located in Winnipeg, Brandon, and various other rural locations. A student who fails the examination will be given an opportunity to rewrite the examination providing it is written within one month from the original exam date. Failure on a rewrite examination will necessitate re-enrollment in the course. Refunds and Withdrawals Students must withdraw in writing no later than one month following the date of enrollment to receive any refund. To receive a full refund (less an administration fee) the unmarked course material must be returned at your expense, along with a letter confirming your wish to withdraw.