Just finished your real estate courses, but are a little confused on what steps to take next? Are you an established real estate professional but find yourself slowing down? Perhaps you can see yourself taking a well needed break?
Any realtor that finds their focus shifting away from their sales career in the business may be wondering, "Can you put your real estate license on hold?"
The great news is that you can.
It does not matter what that change is. It can be a well needed break. Considering retirement. A new job opportunity. A sabbatical. Expecting a child so needing to go on maternity leave. The list goes on and on. Putting your realty licence on hold will allow any real estate sales representative or broker to settle into this change without taking a financial hit that can be a burden to their realty career.
Parking your Ontario realty license will keep your registration with RECO in full force, holding it active while maintaining the validity of your license. When you hold your real estate license, you are no longer paying for services you don't need, so your operating costs drop significantly. Reduced expenses means a lot of money back in your pockets.
You can say goodbye to paying for local board fees like TREB, or association dues paid out to OREA and CREA. You are no longer responsible for those desk, franchise, and trasaction fees. No surprises or hidden fees. Just for the savings alone, it's worth putting your registration in a state of holding. The benefits don't end there though. Having that peace of mind while you step back from the real estate industry with your license shelved, eliminates having to worry about accidentally having your license lapse or terminate.
Real estate agents can still make money while their license is put on hold.
Earn top commissions on all your trades or any business you refer out. Hanging your Ontario realtor licence is great for those that want to earn income exclusively on referral fees. The options are there. Parking your registration keeps it in full working force. It's there for you for whenever you need it.
So again, "Can you put your real estate license on hold?" Yes, you can! Save money. Continue to earn top commissions. Keep your licence for both current and future use.
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