Frequently Asked Questions
A. Licenses cannot be parked in theory. ‘Parking a licence’ is a term realtors use to indicate that they are no longer members of a Real Estate Board. However, they remain registered Real Estate Professionals with the Real Estate Council of Ontario.
Therefore, this agent will not be paying any board dues, OREA fees, or CREA fees. Agents will not be able to access MLS information or services.This Agent will therefore not be paying any board dues, OREA fees or CREA fees. The Agent will not have access to MLS information or MLS services.
A. If you are knowledgeable of the rules, regulations and have experience dealing with Real Estate in a professional manner, we will support your efforts to remain active while your license is parked – regardless of the number of transactions you are doing.
For Agents that are not able to look after the best interest of the Consumer, we require that the Agent work on a referral basis or in partnership with an experienced Full-time Real Estate Agent.
A. If you want it handled properly, you should refer it to a Full-Time Agent who knows the neighbourhoods, the sales trends, the market value or prices, and has access to the local Real Estate Board.
You can:You can work with any Registered Sales Professional with any brokerage. A commission sharing arrangement can be arranged between you both, or
- Pass on your lead to an Experienced Agent as a Referral. This experienced Agent must and be able to look after the Consumers best interest. You can negotiate the referral commission with this other Agent.
Refer your lead to an experienced agent. Consumers need an experienced real estate agent who is able to look out for their best interests. With this other agent, you can negotiate the referral commission as well as your participation in the transaction (if any).
A. No. Everyone who is registered with RECO must renew his license periodically and to do that one has to complete the RECO Update course. Additionally, you will have to pay for errors & omissions Insurance.
A. There is no deadline. Maintaining your educational requirements, paying the registration costs, and staying active are all requirements for registration renewal. In addition, you must maintain errors & omissions insurance.
A. It doesn’t matter where you live in Ontario. Provided you are registered with RECO – Real Estate Council of Ontario. We are a very modern virtual office, so yes, you can continue to work with us. If you need assistance, our support staff is available to assist you.
Toronto Real Estate Realty is both a Full Service TREB Brokerage as well as a NON-TREB Brokerage, catering to Agents from all walks of life.
When you decide to park your license, we can also assist you with getting back to full-time sales
A All commissions due to you for transactions completed before you left your previous brokerage will be paid directly to you, in the same fashion as they were paid before.
Toronto Real Estate Realty does not charge you anything. Payments for those commissions are made directly to you. The Brokerage does not receive them.
To gather further info, simply send us the form below.
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We will create the required paperwork – it’s that easy.