Parking your Licence
For whatever reason that you are not active in selling but want to keep your real estate licence, parking your licence may appeal to you. You'll save money that you would otherwise need to pay for your desk fees (from $100 or more a month) and real estate board's fees (monthly $96.78 Board's Membership Fee and $80.50 MLS Access fees).
Saba ParkNSave Realty is in the process of applying for a license from the Real Estate Council of BC. Agents at Saba ParkNSave Realty do not belong to any local real estate board, and they don't have to pay the monthly board's fees. There is a small fee to pay at Saba's ParkNSave Realty to keep your license active.
Although you don't have access to the MLS Listings, you can still refer a buyer or seller to an agent or broker of your choice, and receive a referral commission when a deal is done. You may take a buyer to a presale new development, and if your buyer purchase a condo or townhouse, you will earn a selling commission from the developer.
About Our Company
We are an affiliate of Saba Realty Ltd, a Canadian owned full service real estate brokerage that provides residential and commercial real estate trading and property management services in BC.
Although you don't belong to any local real estate board, you are still licensed by the Real Estate Concil of BC. Your real estate license provides you errors & omission insurance coverage.
Why join us?
At Saba's ParkNSave Realty, you can retain your licence as “Active” at a minimum cost. You can access our office facilities and our agents' network to meet your needs, and earn real estate commission and referral fees.
Parking your license allows you to be licensed, provided when your license is due for renewal, you satisfy the minimum continuous education requirements (REP) and complete your Legal Update Course. It is an option for you to remain licensed at minimal cost, rather than give up your license to regret later to re-apply or re-sit the exam should you decide to become an active agent again.
Other Questions On License Parking
1). New registrants – within one year of passing your licensing examination, you need to make an application to the Real Estate council of BC for a license. You need to provide a police check for employment, so the real estate council can issue you a license valid for two years. When you are due to renew your license after 2 years, you must complete the mandatory PDP credits for your license renewal for another 2 years.
2). Currently licensed with another brokerage – provide us a copy of your letter of termination to your current brokerage and your real estate board where you are a member. This is to be done within 90 days of your termination, and apply to transfer your license to Saba ParkNSave Realty. It will cost you $250 payable to the Real Estate Council of BC. If it is passed the 90 days from your termination, you will need to apply for reinstatement of your license.
3). Reinstatement – if your license registration lapses for more than 90 days but less than two years, you can apply to reinstate your registration provided you meet the PDP credits educational requirements. The cost payable to Real Estate Council of BC is $250, and you are also required to provide an original police employment check.