Do I need to pay for Errors and Omission Insurance?
Yes, Anyone who is registered with NSREC must have errors and omission insurance.
Can you list and sell property yourself?
Yes you can, because you are licensed. Not recommended though for non-members of NSAR. Stick to referrals up to 50%.
Do I need to keep my Nova Scotia Real Estate License active?
How long can you stay registered with this Brokerage?
There is no commitment so stay as long or as short as you want.
I am not in your area, can I still join your Brokerage?
Yes, as long as you have a Canadian residence and have a current Nova Scotia Real Estate License you can hang your real estate license here.
Is there an administration cost to register my license with your Brokerage?
No, there is no annual agent administration cost. For more information about the referral income breakdown go here.
Do I have a choice as to the agents that my referrals go to?
Yes, but only with my approval, the agent must be the best for the task.
What is the process to transfer my license to you?
Complete the ‘Reinstatement of License’ form for NSREC along with $80.00 + HST within 30 days after termination.
Education has to be current.
After 30 days since Termination NSREC fee is $330.00 + HST with mandatory Education current.
* Transfer cost for a currently active member is $80.00 + HST with mandatory Education current.
There is also a Recovery fund fee.
If not a member of NSAR then the NSREC mandatory education is the only requirement annual for a Common Law Brokerage, current cost is $149.00 approx.