Parking your license is about putting your real estate Career on temporary or a long term hold. In order to trade in real estate in Ontario, brokers and salespersons must be registered under the Real Estate and Business Brokers Act, 2002.

 

Besides the educational requirements, one needs to be Associated with a Brokerage before being Registered as a Real Estate Sales Professional with RECO. The Real Estate Council of Ontario (RECO) is responsible for administering the Real Estate and Business Brokers Act, 2002 and associated regulations on behalf of the provincial government.

 

As of June 2012 there are approx 59,000 registered real estate professionals on Ontario – a 62% increase over the past 10 years with a pretty much even distribution of men and women.

 

The fact is:
 
The costs of acquiring a Real Estate License + the time involved = A costly amount.

 

The educational requirements to become a New Agent have been constantly changing. There is a belief that at some point these education levels will be too much for an average person to pass and qualify.

 

So what does one do if one needs to put his careers on hold?

You will still need to be associated with a Brokerage, but perhaps at this point a NON-TREB and NON- Full-Service Brokerage will be your best option. You will be able to Park Your Licence at lower costs until such time as you wish to be active again.

 

Yes, you will still need to comply with RECO Continuing Educational course. You will still be licensed, you will still be able to put together transactions – you are still an Agent!

 

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Division of Green Home Works Realty Inc. 

Brokerage Independently owned and operated

6352 Bethesda Road
Whitchurch-Stouffville, ON L4A 7X3

 

51 Teddington Avenue
Markham, ON L3R 6T6

 

Phone: 416-289-2890
Fax: 647-725-2147
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