Category Archives: Chat with Chilla: Real Estate Agent Edition

Training for existing real estate agents.

Should real estate sales agents use the “.realtor” domain name and other trademarks of “organized real estate”?

It’s important to note that:

1. The license to work as an Ontario sales agent or carry on business as an Ontario broker is governed by REBBA (“Real Estate and Business Brokers Act”). It is REBBA that prescribes the rules for getting the license and maintaining the license. RECO (the Real Estate Council of Ontario) is the organization that administers REBBA.

2. Membership in “organized real estate” is voluntary. If you are NOT part of “organized real estate” you may keep your real estate license as long as you are affiliated with a broker who is NOT a member of “organized real estate”.

Some real estate professionals may wish to temporarily cease employment as a real estate sales person but keep their real estate license active. This can be done by “parking”, “keeping” or “shelving their license” with a broker who is NOT affiliated with “organized real estate”. (The requirement to meet the REBBA requirements continues.)

What if you cease to be a member of “organized real estate”? All you need do is “stop paying the fees”.

There is “good news” and there is “bad news”.

First, the “good news”: You will avoid all the fees required to be member of “organized real estate”.

Second, the “bad news”: You must cease using all the trademarks owned by “organized real estate”!

The trademarks owned by CREA “Canadian Real Estate Association” and “organized real estate” include:

– the word “realtor”. The word “realtor” is a trademark owned by “organized real estate”. Nobody can use the word “realtor” unless they are a member of “organized real estate”.

Examples of prohibited uses of the word “realtor” include:

– the word “MLS”. “MLS” is a “trademark” owned by “organized real estate”.

Conclusion

Those real estate sales and agents and brokers who wish to take a vacation or sabbatical from their real estate careers by “parking”, “shelving” or “keeping” their license with a broker who is NOT part of “organized real estate” should NOT use the CREA trademarks. In particular, they should NOT use the “.realtor” domain name as their email address! It would be unwise to be in a situation where the continued use of an email address would infringe the trademarks of “organized real estate”!

What is “organized real estate” and why you would consider becoming a voluntary member

In a previous post I discussed “The acronyms” of “organized real estate“. The purpose of that post was twofold:

1. to explain what is meant by the phrase “organized real estate”; and

2. to emphasize that one can be licensed as either a “sales person” or “broker” under the Ontario Real Estate and Business Brokers Act” (“REBBA”) and NOT be a member of “organized real estate”.

Who you are (a licensed broker under “REBBA”) is different from the organizations to which you may belong (“CREA”, “OREA”, “TREB”, etc.). As you consider how to best build your real estate career, you will certainly consider which of the many associations of “organized real estate” to which you wish to belong.
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New Ontario Real Estate Licensing fees from @RECOHelps – Effective January 1, 2017

The cost of becoming an Ontario real estate agent or broker and the cost of remaining an Ontario real estate agent or broker

The real estate industry in Ontario (and every where else) is a “licensed profession”. There are costs to becoming a licensed real estate agent. There are costs to maintaining your real estate license. That said, the costs are far less than the costs associated with other professions.

The licensing costs are subject to change. Effective January 1, 2017 the “Real Estate Council of Ontario” (“RECO”) has increased the “licensing fees”.

RECO’s announcement is here and a chart of the new fees is here.

Notice-of-Fee-Changes-and-New-Fees3

Taking a break from Real Estate? Don’t let your license lapse! Keep your license active!

You worked hard to earn your license. If you take a break from your real estate career you should keep your license active.

Here is how to both:

  1. Take a break from real estate; and
  2. Keep your Ontario Real Estate License active.

 

 

New Real Estate Education program announced by @RECOHelps – Begins 2019

The above tweet references the announcement by RECO that they have selected their new educational services provider AND who that provider will be. The new program will be delivered by Humber College and NIIT Canada.

It is possible to qualify as a sales agent and/or broker under the existing OREA course structure by beginning before mid 2019. My guess (pure speculation) is that the new program will be longer and more difficult. The expression “better the devil you know, rather than the devil you don’t know” is possibly apt.

My advice: Begin the existing OREA program quickly! For further details see the RECO Fact Sheet below.
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Chat with Chilla: Real Estate Agent Edition

 

Are you a real estate agent looking to turbocharge your sales?

This thread is to engage in discussion with our Real Estate Gure and mentor Chilla Riddle.

Post a question as a comment. Chilla will do her best to answer.