Brokers process associate and associate broker transfers through myRECA.
If an industry professional wishes to transfer to another brokerage, they must provide written notification to their current broker.
There is a fee to transfer brokerages. The fee schedule is here.
The transfer process:
- The transferring individual will give their myRECA username to their new broker
- The new broker verifies that the individual gave written notification to the current broker of their intent to transfer
- The new broker begins a transfer application for the individual using their brokerage’s myRECA account
- The transferring individual completes their portion of the application in the My Applications section of their myRECA account
- The new broker accepts the application in myRECA, and pays the transfer fee or sends the application back to the transferring individual to pay the fee
- Once the fee is paid, the associate is officially transferred to the new brokerage
- The associate should check their licence status to ensure the transfer went through properly
A broker cannot complete a transfer if the applicant answers ‘Yes’ to any of the suitability questions on the transfer application. If there is a “yes” answer, RECA staff have to review the application before granting a registration. It will not happen immediately upon payment.
Tutorial on Transferring an Associate within myRECA