Helping you take five from your real estate career
If you want to take a step back from actively working with buyers and sellers, or put your real estate career on hold for a time, placing your license with Take Five is a simple and cost effective way to keep your Ontario real estate license active, and your options open.
Helping you take five from your real estate career
If you want to take a step back from actively working with buyers and sellers, or put your real estate career on hold for a time, placing your license with Take Five is a simple and cost effective way to keep your Ontario real estate license active, and your options open.
Plan for your future, stay connected to your past
You’ve invested a significant amount of time, money and effort to earn your real estate license. To let it lapse at this stage is to risk having to start again with all the introductory courses.
Take Five Realty Inc. Brokerage is a non-board real estate brokerage and license holding company that provides a simple and cost effective alternative.
For a low annual fee of $240 + HST, you’ll become a registered Take Five representative, ensuring your license remains active with the Real Estate Council of Ontario (RECO). By doing so, you’ll be spared the ongoing cost of real estate board fees and monthly brokerage fees.
Take Five to explore new opportunities
Take Five to explore new opportunities
Keep trading on your good name
If you’re an established agent, you’ll have built up a book of business that can still remain a valuable and income producing asset for you – even though you’re no longer directly working with buyers and sellers.
By referring your buyer and seller contacts to an active, informed REALTOR®, you’ll be able to continue earning referral commissions through Take Five Realty Inc. Brokerage.
We charge a fee of 10% of referral commissions to cover the collection and disbursement of your commission – the remaining 90% is swiftly and securely transferred to you with no additional fees.
Take Five to focus on something different
Take Five to focus on something different
What makes us different
We’re more than an impersonal real estate license-warehousing option. We’re here to play an active role as you manage transition within your real estate career. Our services include:
Helping agents transfer their real estate license from their current Brokerage to Take Five Realty Inc. Brokerage
Assisting new registrants with their registration with the Real Estate Council of Ontario
Providing timely reminders about important dates for licence and insurance renewal
Responding promptly to signing of referrals to other brokerages
Swift disbursement of commission to Independent Contractors once funds are received from other brokerage.
Your Annual Trade Net Report for commission income
Preparing annual commission income statements for the CRA on behalf of our agents
Helping with referral business by providing ready access to our network of sales representatives and brokers across the country
Guidance and consultation on residential real estate matters
Do you have questions? Go to the FAQ’s (located at the bottom of this page).
Take Five to raise a family
Take Five to raise a family
Nancy Gossling
Broker of Record
With almost 40 years in the industry, Nancy Gossling brings a wealth of experience to Take Five Realty Inc. Brokerage. From roles spanning sales representative, sales broker, sales manager, area sales manager to local Board President (1994) and Chair of the Education Committee and Board member of the Real Estate Council of Ontario (1998) Nancy has built up a comprehensive knowledge of the real estate industry.
If nothing else, Nancy understands that real estate is ultimately about people. That’s why she established Take Five to offer guidance and solutions to agents at a period of transition in their real estate career.
Take Five to do more of what you want
Take Five to do more of what you want
Find out how we can help you keep your license active, and your options open
Fill out the enquiry form and we’ll be in touch shortly to discuss your situation and if Take Five would be the right solution for you.
FAQ
FAQ
What does Parking your License mean?
With Take Five Realty Inc. Brokerage, your Real Estate Licence will still be active but you will no longer work directly with Buyers and Sellers. You will be able to trade and earn commission by referring business to a full-service Brokerage i.e. a Brokerage that belongs to a real estate board
How much does it cost?
RECO Brokerage transfer fee of $25.00. Take Five Realty Inc. Brokerage annual fee of $240.00 + HST, $271.20. You will also have to continue to pay for your RECO insurance every year and update your education and renew your license every 2 years.
What am I saving if I MOVE my license to Take five realty?
You will no longer have any Real Estate Board , OREA or CREA fees. You will also eliminate any fees you pay to your current Brokerage.
With RECO your license is either active or terminated. If you want to maintain your license you must be registered with a Brokerage.
WHY DO I HAVE TO CONTINUE TO RENEW MY RECO LICENSE?
Will I still be able to see what is available for sale and what has sold?
As you will not be a member of any Real Estate Board, you will not have access to MLS and all the services that the Boards provide.
Can I still sell real estate?
Take Five Realty Inc. Brokerage puts a restriction on you license allowing you to trade by referral only. No working directly with buyers and sellers, but you can actively seek out referral opportunities.
If I am NOT ACTIVELY SELLING, why do I have to pay my RECO insurance?
Everyone who holds an Ontario Real Estate license has to pay their insurance annually, renewed in August.
What do I have to do to TRANSFER my License?
Contact Take Five Realty Inc. Brokerage. We will walk you through the simple, straightforward process. You will have to resign from your current Brokerage, provide some personal information and answer a few questions about yourself and the status of your license.
How long does the process take?
As long we have all the information we need about you, we will transfer your license electronically. If everything is correct the transfer is immediate.
Is there any other cost to me?
Take Five Realty Inc. Brokerage has an annual fee of $240.00 + HST. No other charges, regardless of how many referral transactions you make. No deal fees! You receive 90% of all referrals that close and are paid. The Take Five Administration costs are covered by the 10% retained by the company.
How do I go back to my old Brokerage?
When you decide to go back to a Full-Service Brokerage simply resign from Take Five Realty Inc. Brokerage and contact the Brokerage you are going to join. They will process the transfer of your license to their Brokerage and RECO will charge $25.00
If, through my current Brokerage, I have transactions that will complete at a future date, what happens to those deals?
The Brokerage you are currently with will pay you the commission you are owed for the work you completed when your license was registered with them.
What next?
Complete the form above or call 905-849-3958 or email info@takefiverealty.com.