What exactly is Parking?
Parking your license essentially means putting it temporarily or on a long-term hold. For a variety of reasons, real estate salespersons andmay wish to pursue other opportunities while keeping their Real Estate License from being cancelled or terminated.
To operate in Ontario, Real Estate Salesperson or must be affiliated with a Brokerage before being registered and licensed by the Real Estate Council of Ontario. RECO is responsible for administering the Real Estate and Business Brokers Act, 2002, and the updated TRESA.
According to the Canadian Real Estate Association, there are over 140,000 real estate agents registered with the organization. This includes approximately 82,000 in Ontario. These agents are spread across all provinces and territories and collected into 79 regional real estate boards.
The fact is:
The costs of acquiring a Real Estate License + the time involved = A costly amount.
It is obvious that costs are the central issue when parking your license. Although you will still need aa NON-TREB and NON-Full-Service Brokerage will be your most ideal option. Here you can park your licence at lower costs until you wish to be active again.
Toronto Real Estate Realty has 2 branches – the Toronto TREB Office and the Markham NON-TREB branch. If you are a NON TREB Agent, your license will operate from the Markham NON TREB Branch.
Licensees who have paked their licenses can still conduct Real Estate Transactions and trade in Real Estate. Ourcontinues to provide full Brokerage Support to all its Agents. We encourage you to complete transactions.
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