Plan On Stepping Away From Your Career As An Ontario Realtor?
Monday Jul 10th, 2017
If you are a real estate agent that has been a lot less active in sales and are looking for a solution to help with the costs associated with running your real estate career - that is drastically reducing the expenses to operate as a realtor in Ontario - then take a deep breath because their is no need to worry. You have come to the right place. Agents in Ontario can put their realty license on hold while being registered through the Real Estate Council of Ontario. Those already with a RECO registration will also have to be a member of or registered with a Brokerage firm located in Ontario, Canada. You will operate as either an employee or an independant contractor with the Brokerage you are now a member of.
If not much is going on with your sales career as a realtor, do you just call it quits and just forget about your licence until it terminates? What about where your life circumstances has you taking into consideration a leave of absence? The point is, you do not have to call it quits. You worked hard for and were excited when you obtained your real estate license. Park it and cut most of the operating expenses. Shelve your Ontario realty licence and save a lot of money - money that should go back in your wallet and not spent needlessly.
Park your registration if your looking at a change in occupation. A career change is great, but continuing to pay for the high costs to keep your registration with RECO active so you can use it in the future isn't so great. So then what becomes of your real estate license if you do decide to go through with this career change? A great idea would be to join hundreds of other real estate agents located in Ontario, Canada that have decided to put their licence on hold, and in doing so maintaining it's validity in the industry while at the same time reducing costs significantly and putting that money saved back in their pockets.
What will your costs continue to look like as you start your new career while maintaining your registered license and a member of your current brokerage? Board fees, association dues, transaction fees, monthly fees, desk fees, and so on. You can warehouse your license with a low cost Ontario RECO registered brokerage and eliminate those unnecessary expenses that are no longer relevant to you as your main focus now should be that of your career change.
You can still sell or refer business and earn top commissions while having your license parked. So don't hesitate to put your licence on hold and with the support of a Broker you can trust.