Park Your Real Estate License in Ontario
From Maternity leave to Retiring your Realtor Career
Keeping your real estate license active could be the best decision in your real estate agents sales profession. Hundreds of well meaning men and women flock to OREA College to follow their dream to become an Ontario Real Estate Agent. Here is what it really takes:
To be registered as a Salesperson with the Real Estate Council of Ontario and 'trade' in real estate in Ontario, you must complete The Salesperson Registration Education Program. The Program begins with the Pre-registration Segment which must be completed within 18 months of the start date of the first course. Following completion of the Pre-registration Segment, students have up to 12 months to obtain employment with a brokerage and obtain Registration as a Salesperson with the Real Estate Council of Ontario (RECO).
The final part of the Program is the Articling Segment, a mandatory 24-month period following the student's registration as a Salesperson.
This entire process takes up your valuable time and a fair amount of your dollars. So what should you do if your life circumstances change?
Realtor's in Ontario Canada
What does it mean as a Realtor in Ontario Canada or anywhere else for that matter, to park your real estate agent license?Â Real estate Agents and new real estate graduates have chosen a primary or secondary career path in the field of trading in real estate properties including residential, commercial, leasing, investments and property management.Â Then, because circumstances change for several different reasons, their career path is altered.Â Since there is a very real on-going expense to be in this sales business, a serious challenge financially becomes an obstacle for hundreds of Realtor's yearly.Â The decision to keep your real estate license versus allowing it to expire then be terminated is not at all a difficult one anymore.Â The park your real estate license option and alternative is available.
Why Place your real estate license on hold?
Full-time, Part-time or just Inactive
As if it isn't enough that much time and money was invested in achieving an Ontario real estate license. Things change but the expenses like franchise fees, desk fees, administration fees, monthly Office dues, transaction fees etc etc never seem to go away even if a Realtor becomes inactive in sales.Â Some Agents begin real estate sales on a part time basis while others try it full time and are ready to place all their eggs in one basket and dive in, sink or swim.Â It is not just a matter of who will succeed and will fail, it becomes a reality check on which Realtor can adapt and make this lifestyle a fit for them and their family.
Here are just a few reasons why Ontario real estate agents take a step back and become inactive as Ontario Realtor's:
2.Â A leave of absense like Maternity leave, sabbatical, sickness, extended vacation etc.
4.Â Another career opportunity
5.Â Joining the real estate sales Corporate Sector
6.Â Not what they expected, but want to continue with personal and family sales
Park your license solution
Cut your operating costs and save your money
The best solution is to park your real estate license with a real estate Brokerage in Ontario that will eliminate or drastically reduce all your sales costs while allowing you to keep your RECO license active for your current or future use when that usefulness arises or presents itself.Â This is not a secret, however, many real estate sales agents don't know that as a parked agent you can still continue to trade in realty sales and if you prefer not to, then refer your sales to another agent and receive referral fees for literally doing nothing at all!
Are you a real estate agent in Ontario and have been in sales long enough to want to take a well deserved break? Are you a fairly new Realtor and things are not going quite the way you had planned? Are you in real estate college right now and would prefer to take your time after successfully obtaining your licence in Ontario, rather than jumping into sales immediately?
Discover how to park your real estate license and start saving your money while keeping your hard earned real estate license with RECO in full active form. Learn about the Brokerage firms in Ontario that will hold your license active while you embark a different route. Save on needless uses you will not be required to pay anymore or while you are in the inactive state. Uses like the Toronto Real Estate Board or your local Board, OREA and CREA too. Get away from mandatory office fees, and if your with a Franchise Brokerage then avoid franchise fees and dues until your ready to get back into real estate sales full time again. Make the right decision for you and your family and if that is to keep your license active while reducing your operating costs then your on your way with Parking your real estate license in Ontario.