How do I park my real estate agent license in Ontario and avoid expenses?
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Is there a way to avoid TREB, OREA and CREA fee and dues? I also have to get away from these monthly payments I have even if I don't sell anything. When I do, I get hit with a transaction fee and then a split on commissions. I want to find out if there is a Broker in Ontario that will hold my real estate agent licence and I dont mind paying a small fee but forget all the other garbage fees like desk fees etc etc. Those fees are ok if your selling but I only do this part-time and sales are low right now. If anyone can suggest a Brokerage that specializes in this sort of thing and who can prove that they do this business full time. I also still require Broker support since I have some personal business to transact and I have business I want to refer out back to an agent in my current office. Sorry, I am being a bit long winded here but I need a Brokerage I can rely on to keep my license active for me with RECO. I worked way too hard to go and have it terminated if I quit selling real estate here in Ontario. If there is a Brokerage in Ontario that parks real estate agents licenses, I need clarified that it is ok if I go a year or longer without making a sale. Is there any Brokerage out there that does this and is reputable with long term success and service to us non producing part timers?
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Answer:
Eleanor, I am glad I came across your question. I asked a similar one a long while ago here on this system and I received an honest answer from the Broker Owner of New World 2000 Realty Inc. himself. Just ignore these other answers that are irrelevant to your questions. This guy Philip Caputi is amazing. He started this park license in Ontario service many moons ago for Ontario real estate agents who needed to park their real estate license with a Brokerage that was not a member of the area real estate board or the linked associations. This means you don't pay those services either. That is a savings of almost 2K right there. Don't worry about Office expenses either because there aren't any. New World 2000 has been around since 1988 and I think they now have about 220-230 Ontario licensed real estate agents / Registrants with RECO. Philip is SOLID, intelligent, just a great guy to deal with and trust for your concerns. Low cost to park your license too. Here is the better news for you, you can sell your personal real estate and you can sell in general if you still want and you can refer business out to another agent of your choice. Yes you can still earn commissions while your real estate license sits on the parked shelf. Bottom line, this Broker is here to help you. Go ahead and interview him. Real estate agents across Ontario have joined and registered with Philip. The Office is in Mississauga but agents from all over Ontario will get the same quality attention they deserve. New World 2000 has a toll free number 1-800-537-1931 or 416-453-8215 or email keepitactive @ gmail . Com
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