In our opinion, in order to limit your legal liabilities, and do the best job for your clients, you should be a member of your local Real Estate Board and work for an active Board Member Brokerage.
Without a local Real Estate Board membership, you can not legally use OREA's standard forms. You also can not directly access the MLS system, Geowarehouse (board dependent), or local board/OREA/CREA services (electronic lock boxes, etc.). Timely access to information is therefore limited. As well, there is no obligation for a Board Member Brokerage to allow access to a listing to a non-board member Brokerage. Showings may be impossible.
An active Board Member Brokerage provides access to the above, as well as marketing, answering, and many other support services.
Supplying superior service to your clients, is simply not possible as a parked agent.
As a parked agent, it is safer, easier and cheaper to refer your clients to an active REALTOR® and collect a referral fee.
Effective January 1st, 2024
OREA has decided to implement a new non-optional, health and wellness program (ORWP) for all it's members. This health benefits program will add another ~$700 onto your yearly association and other fees, which are already in the thousands of dollars. ORWP does not povide an opt-out provision for members, so even if you are covered under another plan, you will still contribute to ORWP. Over 65? You will still have to pay the full fee, but you will receive fewer benefits!
OREA claims that this "Wellness Program will provide a safety net to support Members during challenging times.".
If extra fees in this "challenging time" is not your idea of help, and you are considering your options, contact us today!
Canada's housing market is slowing. Sales volume is down a third and average prices have dropped 10%. Several factors are blamed, including the Bank of Canada's interest rate hikes. Although CREA tries to put a positive spin on the data, suggesting things might be getting better, the reality is listings are sitting longer and price reductions are happening.
If a market slowdown doesn't excite you, and you are considering your options, contact us to see how we can help!
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