subject: Park your license if you are a real estate agent in Ontario Canada [print this page] Park your license if you are a real estate agent in Ontario Canada
If you are a real estate agent in Ontario Canada and you happen to be either a low sales producer or inactive or away from sales at this time, you may be wasting a lot of your hard earned money on useless expenses.
Real estate agents leave the sales business for many different reasons. Maternity leave, trips, health reasons, retiring, joining corporate, or just taking a well deserved break from all the sales pressure and stress. If this is you, here is the question of the day..are you still continuing to pay all the high costs of operating that you are accustomed to?
Park your real estate license instead! Park your real estate license..what does that mean? Well, it is a term used in the business referring to inactive agents who join a Brokerage that houses agents who are low or non producers. Real estate agents that do not sell as a career, must still pay board fees if their Brokerage Office is a member of their local Board. If sales are not in your future because you may have another job and thus have no time to devote to realty sales, then you may as well join a Brokerage holding company that can park your license and keep it active until such a time where you get back into sales.
An Ontario license holding and warehouse type of company will maintain your license active so even if you are not active in sales you can still refer any business coming your way to full-time agents of your choice and collect a big fat effort free referral fee from the agent you referred it to. In some cases you can get as high as 90% split on all your income to the holding license brokerage. You do not pay for desk fees, transaction fees, monthly fees, franchise fees, etc etc.
Whats the catch? A small yearly membership fee applys to the park your license brokerage and a 90/10 split in your favour. Thats it, however, there are a few offices out there that will hold your license so do your due diligence and you will save a fortune while keeping your hard earned real estate license active rather than lapsing it and having it terminated forever.
