Do you need to pay board fee's if you are a realtor? Technically, you are required to be registered with Reco and then Board Membership is determined by your Brokerage and location.
The real estate market in the Greater Toronto Area has its cycles, the highs and sometimes the slow downs. There is always a moment in time when things change so everyone can catch a breath.
The same applies to real estate careers. Many agents find great success in buying and selling for themselves and decide to simply become full time investors, while other agents have start up businesses associated with the field and put full time selling on hold. Maternity leaves and early retirement are also reasons real estate sales representatives decide to take a break from the business.
But its important to know the difference between keeping your license active and simply not renewing.
Agents work hard to obtain their license, if for whatever reasons one decides to take a break there are so many options.
Parking your license is one of them - keeping your license active with Reco so you can still trade and keep up with training but avoiding some of the brokerage fee's along the way.
Depending on what district your brokerage is registered determines what Board, if any, you need to join.
Therefore, the decision on where you park your license becomes important. With Future Group we have options as we have various locations to give you choices.
Don't loose your license - Park it. Call us today about all your options.