The following was submitted to REM by the Real Estate Regulators of Canada.
Whether they realize it or not, real estate professionals regularly engage in conversations about competencies. Every introduction to a new buyer or seller, every advertisement, the answer to virtually every question you are asked, is anchored in your competence.
Now, rarely would anyone present the question so bluntly as to ask whether you are competent, but it is at the root of how you present yourself, be it in person or in advertising. Often, it is the figurative elephant in the room in the initial meeting with a prospective seller or buyer.
It has become increasingly important to clarify the skills expected of real estate professionals, who act with professionalism, compliance and ethics in an ever-changing environment.
The Real Estate Regulators of Canada (RERC), a collaborative forum that enhances regulators’ effectiveness to achieve and sustain regulatory excellence, has partnered with CamProf Inc., a leading international consultancy in skills development, professional and vocational training, and competency standards, to develop pan-Canadian competency profiles for real estate professionals – both sales and brokerage management positions. These profiles will help highlight individual strengths and talents, while respecting the uniqueness of each person.
What is a competency?
A competency is the mix of skills, knowledge, mindsets and behaviours needed to perform a specific activity to accepted standards. The standards for a specific profession are typically established by the profession as a whole and the governing body.
What is a competency profile?
A competency profile is the set of competencies needed by an individual to perform a particular occupation. It can be regarded as a standard, or benchmark, for the level of performance required in the profession. In a nutshell, competency profiles summarize the capabilities that are important and proven to collectively contribute to overall success in a role or profession, as identified by the profession.
What are the benefits?
Established competencies for real estate professionals will promote enhanced basic training, more appropriate certification assessment and better continuing education offering, all tailored to the reality of the real estate marketplace, regulatory environments and new trends.
Canadian regulators are committed to working together in support of competency profile development and promotion in the real estate industry. Once established, mastery of the identified competencies will solidify a strong national public facing reputation. It will promote a unified core set of skills that will help support business continuity by better planning for succession and ensuring that it is prepared for the realities of the industry.
In the coming months, CamProf Inc. will implement a validation survey to allow real estate professionals across the country to provide input on the competency profiles on a wide scale. Once validated, the competencies will be finalized and shared nationally.
For more information, check out the RERC website.