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What is Parking?

 
“Parking,” also known as “Warehousing” or “Shelving”, refers to registering your Real Estate license with a Brokerage that is not a member of a Real Estate Board or Association (CREA and OREA). RECO still recognizes you as a fully licensed Registrant. You do not have to pay any of the associated dues or fees associated with the Boards or Associations if you park with us. You also don’t have access to the Multiple Listing Service (MLS) and can’t call yourself a REALTOR®.

Why you should park your license?

 

• You’ve decided to take maternity leave to care for a new baby.

• You or a member of your family is sick and needs to take a break.

• If you are moving to another province but are unsure whether or not you will return to Ontario.

• If you’ve recently earned your real estate license and aren’t quite ready to dive right in.

• If you’re nearing the end of your career and considering retiring.

 You’re only selling part-time, and the commission you earn isn’t enough to pay your brokerage fees and other expenses.

• Consider parking your license if you simply need a vacation from conventional real estate.

What you can do while parked??

By ‘parking’ your license you are simply removing your license from your current Real Estate board and transferring it to a non board member Ontario Real Estate brokerage – Toronto Real Estate Realty.

As a result there will be No Board fees, OREA, CREA, and no high brokerage desk fees. However, when you ‘park your license’ with us you can still trade in Real Estate. We have several support structures that will allow you to trade in trade in Real Estate in a variety of capacities.

 If you have been an Agent for a while and are simply retiring from active working or are simply putting your careers on a slow down to work at a full-time job, then you realize that you have a database of past Buyer & Sellers and maybe even people that you are working with right now. It may be in your best interest to refer your leads to another Real estate Professional (Agent) of your choice at any real Estate Brokerage and receive a Referral Payment.

 For your Past Buyers & Sellers database, you may wish to work with another Agent (of your choice at any Brokerage) to ensure that theses Buyers & Sellers are given post sales service and you will ultimately receive leads and referrals of potential Buyer and Sellers from them. 

Other job opportunities for a Licensed Real Estate Professional without any Selling:

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