Changing Brokerages
Your current licence to trade in real estate authorizes you to trade on behalf of the brokerage with which you work for. In order to trade under another brokerage follow the steps outlined below:
Step 1: Terminate your licence with your current brokerage
Licensees may terminate their licence by completing the Notice of Termination Form and providing it to the Commission. The form may be completed and signed by the licensee or their broker. There is no fee to terminate your licence.
Step 2: Reinstate your licence with your new brokerage
Licensees may reinstate their licence with a new brokerage by completing the Notice of Reinstatement Form and providing it to the Commission. This form must be signed by the broker or managing associate broker. All licensees must have active Errors & Omissions (E&O) insurance in order to maintain their to trade in real estate.
Important information to consider when terminating your licence if you plan on reinstating:
- 30 days from terminating:
The amount of time allotted for licensees who wish to terminate and immediately reinstate with another brokerage. The fee for reinstatement in this time frame is $200. - Two years from terminating:
The amount of time allotted for licensees to reinstate their licence without having to re-take the licensing course and pass the examination. Those wishing to terminate their licence for this duration should be mindful that in order to reinstate your licence, any missed CPE must be completed in advance. This email address is being protected from spambots. You need JavaScript enabled to view it. to inquire about what CPE courses you may be missing. - Licensees may still be charged with violating the Real Estate Trading Act even though they have terminated their licence, per Section 19(7) of the Real Estate Trading Act.
