Parking your real estate agent license aka RECO Registration in Ontario has been a growing trend with new real estate agent Graduates and practising real estate agents across Ontario.
There are also a group of former real estate agents in Ontario who have had an active real estate license while employed or registered with an Ontario real estate Brokerage but have since allowed their RECO Registration to Lapse. In this case, if you are one of these former Realtors and your RECO Registration has not lapsed for more than 2 years then you may still be eligible to re-instate your real estate license and use a Park your real estate license service which allows you to hold your realty license for your future purposes. This will save it – your real estate Registration – from being Terminated for good.
* If your Ontario real estate agent license was inactive or lapsed for more than 2 years, you will have to re-apply from the very beginning, go through all the real estate courses again and pass to qualify for a new real estate license again.
Why park your real estate license in Ontario?
1. You are thinking of getting or are currently in the required real estate courses by OREA or you just graduated. You are not sure what your next step or decision should be. Call us and Park your new license. Join us as you ponder your future while becoming a new Registrant with RECO.
2. You are a real estate agent in Ontario right now and you are either selling a lot, a little or nothing at all because of several potential reasons. You need to place your realty license in a dormant state but want to keep it active for potential business now or in the near future. Lapsing or terminating is not your option, however you do want to cut most of the high costs related to trading in real estate sales.
What does parking your license in the real estate business do?
A) Keeps your license active with full authority to keep trading in real estate sales in Ontario.
B) Provided you are registered with a Non-Real estate Board Office Brokerage, you will avoid membership fees and dues from your local real estate Board like TREB, and the affiliated Associations like OREA and CREA.
When you Park your agent real estate license in Ontario you are still responsible for:
1. Cost of license renewals every 2 years
2. Errors and Omissions Insurance since your right to Trade is still active and in effect.
3. 24 credit hours for continuing education still applies at License renewal time
Learn why you might want to think about parking your real estate license today. Call Philip Caputi, Broker and Administrator. Agents from all over Ontario are benefiting right now and saving huge amounts of money while still trading in real estate or giving out referrals and collecting referral fees. Call toll free 1-800-537-1931
Call direct 416-453-8215 or email keepitactive @ gmail . com
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