Have you ever asked yourself if it was possible to earn residual income in your real estate sales career in Ontario? I asked myself this same question in my 6th year as an agent working for a very well known and popular real estate brokerage. Is there a way to earn residual income as an Ontario real estate agent ? Expecting my second child and already having another in daycare forced me to ponder because I felt it was time to become a stay at home mom for a while. A Realtors hours especially in the residential sales sector could be very long and with young children poses a serious challenge. I couldn’t afford to let my income drop much and so I looked for another way to still earn commission while staying and home and attending to my family.

Assisting other full time realty sales people was one option as long as the activity required was something that could be handled from home. Managing properties was another choice but how would one go about doing that?

Having a large database of past clients and with referrals coming in on a regular basis was blessing I could not ignore. That business was worth much more to me than the other two options I considered. Since I would be at home with my children my next task was to find an agent I trusted to handle my valued clients and decide on a fair renunciation between us. In other words referring my sales to another real estate agent for a fair referral fee.  My work would involve contacting my clients who were ready to buy or sell their real estate and convince them that the agent I selected and chose to service their needs would in deed be an extension of myself.  Hopefully that would be enough but it was not for many of my clients.  I had to resort to plan b which required more work on my part and hence a greater referral fee aka residual income or residual commission to me and a little less to my trusted Realtor.  I would act as a supervisor who looked over all activities for my customers.  This sat well with almost all of them.  My residual income plan as a stay at home real estate agent was set.

 

My Brokerage was a Real Estate Board Member

 

Here I was having a baby with other young children at home and trying to figure out how to keep an income stream coming in for my family, being a stay at home Mom after being on the road selling properties for 6 years and now the crucial, how do I cut back on most of my expenses to make the residual income worth the effort?  I wanted to examine how I could cut back on Board fees and dues, OREA and CREA fees and dues, desk fees, Brokerage Franchise fees and more.  I had heard about some agents hanging their license with a real estate Brokerage in Ontario for a very low cost.  Others called such a service as warehousing your licence and still others claimed the mist popular method was to park your real estate license.  Then our Broker of Record suggested a service he has used once before with great success.  He said that I would be able to “park my license” and when I was ready I could return back with no problems or glitches at all.  He gave me the name of Philip Caputi who is the senior advisor to New World 2000 Realty Inc., Brokerage and handles all the park your license service and administration.

 

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If your reading this article and it was able to help you and your individual circumstance or if you too are looking to get away from career real estate sales but want the option for a real estate commission residual income then here is the contact information I used.

 

Philip Caputi
New World 2000 Realty Inc.

direct # 416-453-8215
toll free tel. # 1-800-704-2334

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