Real estate agents in Ontario must renew their real estate license every 2 years under the Real Estate Council of Ontario also known as R.E.C.O. They may do so with a registered realty Brokerage in good standing with R.E.C.O. Failing to renew their license on or before their specific renewal date, will result in being ordered to cease and desist trading real estate in Ontario. If the agent does not reinstate his license within 2 years from failure to renew date, R.E.C.O. will terminate the license with no further option of reinstatement.
You may have become an inactive real estate agent and let your license lapse but will probably find yourself back and active sometime in the near or far future. If you decide that your license is valuable enough and worth keeping it active then you will need to reinstate it as soon as possible and avoid total termination. Please be aware that you will need to be registered with a Brokerage. If you will be inactive then you may want to consider joining a non board member real estate Brokerage that assists licensees like you by holding your license without the high costs you may be accustomed to. Here are some simple instructions on reinstating your real estate license in Ontario under R.E.C.O.
A) Visit the R.E.C.O. website. Just Google the term and you will find it easily. Go to “publications and resources” and note and click the “registration forms” tab. The “New or Reinstate Broker/Salesperson” form is the very first one. Click and it should load up easily.
B) To reinstate you must fill out sections A, B, C and F. The second half of section F will be filled out and authorized by the real estate Brokerage that you have decided to register with. The Brokerage is your Employer. When completed, you will find that R.E.C.O. has made it simple to pay using a major credit card by adding their credit card payment form located on page 6. See the updated information on their form for pricing and remember that you will be invoiced for the errors and omissions fees after your application has been approved.
C) Important: Registrants within the first two-year registration cycle must successfully complete three additional educational courses designated by the registrar before making an application for reinstatement of registration. For all other reinstatement’s, you must fulfill the continuing education requirements also before making an application for reinstatement of registration. Make sure you read section D of the form and call R.E.C.O. direct if you are not clear on their information.
Finally, get that application to the Real Estate Council of Ontario as soon as possible. Your real estate Brokerage employer may take care of this for you but hand delivering it yourself is usually a better option and recommended. Here is their information: Real Estate Council of Ontario 3250 Bloor Street West, East Tower, Suite 600, Toronto, Ontario M8X 2X9 Telephone: 416-207-4800 or 1-800-245-6910 and Fax: 416-207-4820
Something originally inspired you to become a licensed real estate agent in Ontario. Inactive for whatever reason led to your license getting terminated. Give yourself the benefit of a potential comeback whether sooner or later and instead of losing this valuable asset, keep it active and reinstate it today. There are options for you now that will allow you to park your license instead of losing it and at a fraction of the cost you are accustomed to. To reinstate or not to reinstate, it’s totally up to you! Good luck.