FAQ’s

FAQ’s

TRANSFERRING YOUR LICENSE FAQ’S

Transferring to actively trade in Real Estate

Transferring to Anchor Realty is just the same as transferring to any other Real Estate brokerage. Simply contact our office at 877-672-6604 or broker@anchorsells.ca and we can send you the forms and walk you through the process. Your board access will be with our current board memberships of either London St Thomas or Cambridge/Guelph/Hamilton which will allow you to get information and post your listings on all but boards in Ontario except Sarnia and Peterborough. If however you would prefer to stay with your own board please call our office and lets talk, we are always looking into expanding and it might just be beneficial for both of us to be members of your current board

Transferring to “Park” your Real Estate licence.

1. If I transfer or park my license with a non board member Ontario brokerage will I still be able to sell Real Estate?

A. Yes. Even though you have “parked” your license with Anchor Realty’s Non Board Real Estate Brokerage you will still have an active Real Estate license. You are always able to trade in Real Estate if you have a Real Estate licence and you are with a Brokerage whether that brokerage is a board or non board member.

2. Will I still have to complete my required courses?

A. Yes. In order to maintain you license you will have to complete the mandatory hours required by RECO every 2 years. The web link www.reco.on.ca will keep up to date on your course hours and some available courses.

3.  Do I have to be located in the same general location as Anchor Realty to transfer my license to them.

A. No. As long as you are a Realtor in the province of Ontario you can transfer or “Park” you license with us.

4.  How long can I keep my license parked?

A. As long as you like. As previously stated, your license is still active your just not a board member thereby saving the fees.

5. How much does it cost to “park” my license with Anchor Realty?

A. The yearly cost to “park” your license with Anchor is $300 or $25 per month plus H.S.T. for the 50/50 commission split. If you would like a higher commission split it’s only $1 per percent per month, so a 90/10 split would cost only $65 per month plus H.S.T. No board fees CREA or OREA.

6. Are there any other fees I will have to pay?

A. You will also be required to pay RECO a transfer fee.

If you have any questions that have not been answered from this page please feel free to contact us and one of our staff would be happy to assist.

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