30 FREQUENTLY ASKED QUESTIONS:
1. I do not live near your office, Can I still join your brokerage?
Yes, as long as you have a Canadian residence and an address for service in Ontario (which can be our office address), you can join your brokerage.
Our Brokerage list properties on MLS, at any of the following 40 boards and association all over Ontario for a small fee (from$35.00 up to $100.00)
Bancroft, Barrie, Brampton, Brantford, Chatham-Kent, Cornwall, Durham, Southern Georgian Bay, Association of REALTORS (Georgian Triangle), Guelph, Huron & Perth,
Kawartha Lakes, Kingston, Kitchener-Waterloo, London, Mississauga, Niagara, North Bay, Northumberland Hills, Association of REALTORS, Oakville-Milton, Ottawa, Parry Sound, Peterborough & Kawarthas, Quinte, Cambridge Association of REALTORS,
REALTORS Association of Grey Bruce Owen Sound, REALTORS Association of Hamilton-Burlington, The Lakelands Association of REALTORS (Muskoka Haliburton Orillia),
Renfrew (thru Ottawa), Rideau St. Lawrence, Sarnia-Lambton, Sault Ste. Marie, Simcoe,
Sudbury, Thunder Bay, Tillsonburg, Timmins, Toronto, Windsor-Essex, Woodstock-Ingersoll.
2. Are you TREB (Toronto Real Estate Board) member?
Yes, our Toronto office is a TREB member for about 19 years, but our Parking office is not a TREB member.
3. Do you offer assistance in day to day real estate business?
Yes, our Brokerage has operated since 1998 and is managed by a real estate broker who has more than 27 years of Commercial and Residential Real Estate Experience. He is available 365 days a year, and committed to assist and support you to secure your success. Also, we have a team of the best Mortgage Brokers, Lawyers and Home Inspectors in the business.
4. Do you have appointment desk service?
Yes we have one. Our appointment desk service is working 24/7, 365 days a year. As soon as you receive a message, showing confirmation and/or showing request to one of your listings, our appointment desk will immediately confirm the showing after contacting the seller and will forwarded the full details to your Cell Phone by an Email.
5. Does your Brokerage "More Real Estate" have a Commission Trust Account through which commission are paid?
Yes, our brokerage has operated since 1998. We have all bank accounts, this includes a commission trust account to protect your commission.
6. Apart from the dues what hidden charges are there?
There are no hidden charges, you just pay $99 + HST every 365 days. When you receive any kind of messages through our office, you pay a monthly activity fee of $50.00 + HST, to cover the cost of the appointment desk service (receiving and forwarding your messages to you). During any month that they do not receive any messages, you do not pay this monthly activity fee.
If you are a TREB member and need to meet your clients at our Toronto office, you will pay a small fee (hourly rate) and you will pay for copies and faxes per page.
7. Where do I access all of the required forms (Buyer Agency, waivers, amendments, etc)?
If you are a TREB member, you can access all forms through WEBForms. Upon your request, we will email you all the forms, type the offers and listings with all related documents free of charge. If you are not a TREB member, upon your request, we will email you all our own forms, type the offers and listings with all related documents free of charge, and you will receive the same assistance for all clauses that you might need. Also, If you wish, we will review all documents before you submit to your clients for signature, free of charge.
8. How can I search for homes if I am not a member of TREB and I do not have User ID, PIN # and authenticator (token) #?
You can search through www.realtor.ca (www.mls.ca) website
. Search by map, price & features. This website is updated every night by all the new and current MLS Listings allover Ontario.
You can search for the properties that are recently sold at www.mongohouse.com
9. How can I show MLS listings if I am not a member of any board or association? The listing brokerages will not have my name.
Every listing Salesperson/broker is eager to sell his/her listing to any buyer. Some buyers are working with Salespersons/brokers who are not members of any board or association and some Buyers and their Salespersons/brokers are from out of town. The listing Salesperson/broker will be more than happy to confirm your showings and present your offer to the sellers.
10. How can I list a property on MLS, If I am not a member of any board or association?
The property will be listed with our Toronto Office as per the Listing referral agreement, Our Brokerage list properties on MLS at 40 boards and association all over Ontario.
11. When I List a property on MLS, or when I work with buyers showing homes, is there an extra fee?
When you List on MLS, or when you start working with buyers showing homes, When you receive any kind of messages through our office, you pay a monthly activity fee of $50.00 + HST, to cover the cost of the appointment desk service (receiving and forwarding your messages to you). During any month that they do not receive any messages, you do not pay this monthly activity fee.
12. How can I protect my commission if I am not a TREB member?
All Salespersons/brokers who are a board or association members and non members, must have The Confirmation of Cooperation Form signed by all parties, to Protect their own commission.
13. How can I be updated with RECO regulations?
We will email you all the updates regarding any recent changes that are relevant to the real estate regulations, procedures and practices as soon as they are published.
14. If I have some commission due after I resign from my current brokerage, what will happen if the deal is done, but the closing will be on a later date?
The Brokerage is obligated to keep the commissions in "The Commission Trust Account". As soon as the Brokerage receives the balance of the commission after the transaction is completed (Deal Closed), the Brokerage is obligated to pay the Sales Representatives/Broker his or her commission as per the "Independent Contractor Agreement" between the Brokerage and the Sales Representative/Broker, even if the Sales Representatives/Broker moves to another Brokerage.
15. If I have currently one or more listings with my current brokerage what will happen?
You inform your clients that you have been transferred to another brokerage and get the listing cancellation signed by your clients and by your current broker of record/manager. Then submit a new listing agreement with your new brokerage to be signed by your clients.
16. Should I choose to park my license at Parking office and work part time, and then choose to switch over to the Toronto office, or if I choose to join your Toronto office, and then choose to switch to your Parking office, is there any restriction as to how long I have to wait before I can switch? Are there any penalties?
There are no restriction and no penalties, you can switch from Parking office to Toronto office at any time, the only condition is that you will have to pay your TREB membership upon moving to our Toronto office. Also you can switch from Toronto office to Parking office at any time.
17. Are there any penalties, should I require cancelling my employment with your company?
No penalties of any kind, you can leave any time with a 5 business days resignation notice and all your pending commissions will be paid to you as soon as the deals are closed.
18. Can I just pay my local board or association fees and do not pay CREA fees ($310 + HST due on January 31) and OREA fees ($110 + HST due on January 31)?
No, If you choose to pay your local board or association fees, then you have to pay both CREA and OREA fees as well, otherwise your local board or association will suspend you.
19. If I am registered with Parking office, do I have to pay RECO Error and Omission Insurance?
Yes, it is not relevant to RECO if you are active or not. It is a matter of having a real estate licence or not, If you do not pay RECO Error and Omission Insurance, your licence will be terminated by RECO.
20. When I park my license, can I advertise?
Yes, you can advertise indicating your name, your title, our Brokerage name as per RECO Registration; however, you cannot have the MLS or the Realtor Logo in your ad. Your ad has to be reviewed by the brokerage before you publish it
21. Are you a discount brokerage?
No. Our model is based on dues and deal fees, not gross commission. All of our Salespeople have the freedom to compete and we are always advocates that the Co-operating Brokers commission should adhere to industry norms.
22. Can I decide what commission rate to charge in the marketplace?
Yes you can. As an Independent Contractor you always have the right to determine what commission is to be charged on any transaction without the need to get your brokerage approval.
23. Are there sales quotas?
No, we believe our model is designed for you to do business at your own pace and level and to make it the most profitable and pleasing way of doing business.
24. Should I choose to park my license at Parking office and work part time, and then choose to switch over to the Toronto office, is there an extra transfer fee?
There is no transfer fee to be paid to RECO or to our brokerage. You just pay TREB and or OREA fees. At any time you can call TREB to know how much the cost to join TREB or how much the cost to reinstate your TREB membership.
25. Can I email you the transfer forms that have a future transfer date?
RECO do not process any transfer forms that have a future transfer date, please make your termination date on the transfer form and your effective resignation date on your resignation letter, having the current date (today's date), to join our brokerage without unnecessary delay. If your licence renewal date is approaching, it will be faster and easier to transfer your licence to our brokerage before the expiry date of your licence. If you apply to renew your licence with your current brokerage, and in the same time, you apply to transfer your licence to our brokerage, you will face a long delay up to one or two months because RECO computers will get confused.
26. How long it takes to Transfer my License to More Real Estate Brokerage?
Just one business day.
27. How can I Transfer my License to More Real Estate Brokerage?
If you are joining our Toronto office, contact us to set up an appointment to visit our Toronto office and to view the client meeting rooms or send us an email requesting the forms needed for the transfer. If you are going to park your licence at our Parking office, no meeting required; the transfer is done by emails only (send us an email requesting the forms needed for the transfer).
28. What the company's name stands for?
More Real Estate means that your Seller will NET MORE money when he/she list with you because your expertise will sell the property for more, in the same time your Buyers will get more property features for a lower purchase price. Experience isn't expensive, it's PRICELESS!
29. When Do I have to pay you $99.00 + HST?
We do not accept advance payment, after RECO approves your transfer; you will receive our invoice for $99.00 + HST
30. How can I be sure that I will not lose my existing clients when I switch from my famous franchise brokerage to More Real Estate Brokerage?
Your clients are doing business with you because they trust you. They are not doing business with you because you are working with a famous brokerage. Your clients most probably do not remember with which company you are working. Please test your client’s memory and ask them what the name of your current brokerage is. Ask them if they are going to stop doing business with you if you change your brokerage. Also, ask them if they are going to contact your current brokerage to do business with any other agent at your company.