Tag Archives: OREA

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 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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Welcome to your career in real estate!

 

Welcome to your career in real estate!

You have just taken your first step towards a rewarding career in real estate. The real estate industry and profession in Ontario (and other jurisdictions) is heavily regulated.  You can achieve  your license to sell real estate in as little as four months.

The mission of Real Estate Prep is to help you:

– make the decision to enter the real estate industry

– offer you independent tutoring for the OREA real estate exams

– provide you with training as a newly licensed real estate agent

We also offer Real Estate University which is a series of short courses for the general public to help them buy and sell their homes.

We offer you independent real estate preparation courses and study aids, for the exams required to become licensed to be a real estate agent in Ontario. These courses include: OREA real estate mathOREA exam tutoring, the OREA admissions test, and Ontario Real Estate Career Coaching.

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Keep you Ontario real estate license – park your license with an Ontario real estate broker

The rules governing your registration as an Ontario real estate salesperson or Ontario real estate broker are found in two sources:

A. The Ontario Real Estate and Business Brokers Act (REBBA) ; and

B. The regulations made pursuant to the Real Estate and Business Brokers Act (REBBA).

Those who are seeking to become or maintain their license as a salesperson or broker should read the statute and the rules. In addition, you must understand the REBBA code of ethics (they are the source of many OREA exam questions).

Your Ontario real estate is  valuable. You worked hard to get it. You have worked hard to provide value to your real estate clients. It has been the key to your real estate career. It takes money and time (in the form of continuing education) to maintain it. In order to maintain your registration with RECO you must:

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The acronyms of organized real estate: National, Provincial and Local – CREA,OREA,TREB

Before you begin your real estate education and building your real estate career, it’s important you understand the terminology of the real estate industry.

The process of earning your Ontario real estate license

RECOReal Estate Council of Ontario – The organization that administers REBBA (The Real Estate and Business Brokers Act). You get your license from RECO.

You have your Ontario real estate license, what then?

Once you have your license, you will likely join trade associations which are called “organized real estate”.

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