License Parking

Once you have an Alberta Real Estate License granted to you by the Real Estate Council of Alberta (RECA) you are eligible to register with a Licensed Alberta real estate brokerage. However, if you are not registered with an Alberta brokerage for some time, your license will expire and be permanently cancelled. We will explain below why you may want to register with Park and Protect.

*You are NOT authorized to trade in real estate in Alberta without being registered with an Alberta Brokerage. Trading without authorization may result in financial penalties as well as license suspension or cancellation. Here is a link where you can read about the penalties levied against unlicensed and unauthorized trading in Alberta real estate: RECA Penalties

Most Alberta real estate brokerages charge a combination of monthly fees, transaction fees or commission splits to all of the agents registered with them. In my experience, these fees will amount to around $16,000/year. This amount may be accepted as reasonable for a full time active agent, however not every agent is at that stage of their career or requires the services those fees typically includes. At Park and Protect we offer an affordable and simple annual fee based structure which appeals strongly to many agents.

Here are some common reasons you may wish to park your license:

  • You are an Ontario licensed real estate professional who wishes to avoid running afoul of RECA legislation and facing sanctions and penalties for trading in Alberta without a license
  • You are a new agent and not yet ready to commit to joining a traditional brokerage with high expenses
  • You are an experienced agent who is retiring from the industry or taking a temporary break and wishes to avoid high expenses
  • You are a real estate industry member who is transitioning to a new career and wish to retain your license rather than lose it by having it expire