Ontario Real Estate Brokerages-No Real estate board fees-Park your License

Ontario Canada is the home of the Real Estate Council of Ontario. Also known as RECO, they govern real estate agents all across Ontario as well as hold their license registered with them too. There is a fee which is due to RECO on the 2nd year anniversary of all registrants. At that time there are 24 credit hours of education that are also due. Each Ontario real estate agent with an active license is required to have and pay for an errors and omissions policy and such requirement is also due every 2 years when their license becomes renewable.

Although these fees apply to all registered real estate agents in Ontario, said real estate agents can save a lot of money by joining with a Brokerage that does not have full service sales expenses attached to it. What does this mean? Generally Ontario Brokerages have big profits in mind when operating a business. This means that they will offer full services to the public including real estate board benefits like the m.l.s. system.

If you are a real estate agent who is inactive or produce very few sales, then you could be running into a huge deficit because of the expenses you have and are accumulating. Costs like desk fees, franchise fees, board dues and association dues, monthly fees, transaction fees and other fees like advertising costs.

There is a remedy for the inactive or dormant agent in real estate sales. Park your license with an Ontario Brokerage who services the non producing agent who wants to keep their real estate license for future use. Some fees you may have to pay are a small yearly membership fee and a commission split for any sales you make as a parked agent or any referrals you give out to other full-time agents.

Parking your license could add up to thousands of dollars in savings for you while you go on with your other plans. Plans like maternity leave, other career opportunity, health issues, sabbatical etc. etc.

While doing your due diligence in finding a park your license holding Brokerage in Ontario, you will be wise to look for an experienced company who has provided such a service and agent support to many parked agents before you. Look for a trusted Brokerage willing to allow you the flexibility you need while placing your license on hold.