Are you a real estate agent, Realtor, sales representative, or Broker, contemplating to yourself, "Can I park my real estate license?"
If that is the case, then no need to ponder any further. The answer to that question is that yes, you can in fact park your registration.
By doing this - having your RECO registration in a state of holding - it eliminates a huge chunk of the fees you as a realtor is accustomed to paying for. Your real estate license is now a member of a Brokerage that is not a part of any board, and so as a result can take advantage of these savings.
When you put your reco licence in a state of holding, it remains active. So even though you are no longer responsible for fees pertaining to associations like OREA and CREA, or real estate board expenses etc., your ability to sell still remains valid.
When you decide to park your realtor registration, you are also getting rid of transaction, monthly, franchise, desk, and more related expenses pertaining to your career. You can also, if you are interested, continue to trade - as well as refer out any business and get paid top tier commissions for your referral.
Keeping your real estate license active with reco is simple, and is great for any realtors looking to step away from their career - for whatever length of time - and for whatever reason. Be it vacation, wanting to go part-time, maternity leave, different job opportunity. It doesn't matter.
So if you do find yourself wondering, "Can I park my real estate license?" The answer is, definitely! That decision though is for you to decide. Regardless though, the option is there. With it, you can still continue to earn excellent commissions while at the same time saving big.
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