Cost To Become A Real Estate Agent – Park Your Real Estate License With a Low Cost Holding Brokerage Company in Ontario, Canada
Cost To Become A Real Estate Agent
What if someone told you to become a real estate agent trading in properties, whether it be homes or condos or even the commercial sector dealing with office buildings and/or industrial complexes? Well, was it a good idea? Does it seem that real estate agents these days, especially in and around Toronto and the general Toronto area are making a fortune? If you see a BMW or a Mercedes drive by what do you automatically think of? A Realtor maybe? Cost To Become A Real Estate Agent
Now let us come back down to the reality of selling real estate in Ontario. It takes about 6-8 months to actually go through the steps to acquire your real estate license in Ontario. Then you have to get registered with R.E.C.O and a real estate Brokerage under R.E.C.O. For those not familiar with the term, it is the real estate governing board in Ontario, known as the Real Estate Council of Ontario.
When you join a realty brokerage, you will be on some kind of a commission plan so when you make sales you will be paid whatever you and the Brokerage agree to. It could be a combination of commissions earned associated with your office expenses which may include an Office desk fee, franchise fees etc etc. Some offices or Brokerages even charge for faxes and may even hold you accountable for paperclips used. I am not joking here either.
Are you making a fortune yet? Sometimes you just have to slow down a bit and take a good look at your options as a real estate agent. Whether you just earned your real estate license or you are a veteran in the brokerage business there is now an option for you which is inexpensive and may very well save your license and career.
license holding company focuses their attention to the sales people that are not active or have become non-active in day to day selling activity. They are a R.E. registration holding company and referral system specifically catering to the sales people who want to maintain their registration with the R.E. Council of Ontario but do not want to participate in any Realtor board. Cost To Become A Real Estate Agent
These sales people may include those that are part-time, sales people that are taking a break from the business for a short while, or those that just want to wind down, but do not want to give up their registration. In joining a real estate license holding firm there are NO Real Estate Board fees to pay, just a small annual fee to them.
They encourage their sales people to refer any potential real estate activity to their Broker of Origin. They are a Real Estate Brokerage Firm and under R.E.C.O. and are allowed to trade in real estate, but DO NOT belong to any real estate board and DO NOT have access to any M.L.S. system.
What happens if you park your license with a Brokerage. Lets assume that you did this because you are taking a short break from sales, and then you decide to buy a house or sell your house in Toronto, Hamilton, Mississauga or wherever you reside in Ontario? You again have options to choose from. Get back on the realty board with a board member, refer it out to a board member agent, list it with the Broker holding your license and send out fliers to all the agents working your area and tell them you are co-operating.
As you are noticing there are many advantages to parking or warehousing your license. The biggest and best advantage or benefit is that you will save a truckload of your hard earned money!
So, are you a new licensee in and wondering what Brokerage to join? Are you a veteran and changing careers, to part time, maternity leave or just taking a well deserved break? Do you want to keep your realty license active with R.E.C.O. and save it for future use? Now you have an option! Cost To Become A Real Estate Agent
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