JOINING BOARD vs NOT JOINING BOARD
When licensed real estate agents have 3 license status choices:
1) Place your license with the Department of Real Estate as NBA - No Broker Affiliation.
(When listed as NBA you cannot practice real estate or collect referral fees)
2) Join a local board and pay NAR, State and Local Board association fees.
3) "Park" your Real Estate License - which enables you to avoid paying NAR, State and Local Board association fees and still remain active.
As a VB member you have access to our exclusive Real Estate License Parking program. The License Parking Program enables you to avoid paying all the expensive:
• NAR (National Association of Realtors) fees
• State Board fees
• Local Board fees
• MLS fees
The License Parking program is perfect for agents who;
• Do referrals
• Do commercial transactions
• Want to maintain an active license status
While your license is parked, you are still considered a fully active agent. The only thing an agent cannot do with a parked license is join a board or MLS.
If you need access to transaction forms you will need to join your local board, as transaction forms are provided by the state board.
To take advantage of the License Parking program, just click the Subscribe button below. Only $29 monthly fee. Do not worry about the State and NAR association paperwork, we will process all that for you as well.
The Department of Real Estate requires ALL transactions be reported to the broker, which also include: lease transactions, personal real estate transactions as well as referral transactions.
If a closed transaction is not reported to the brokerage within 3 (three) business days of close of escrow, there is a $15,000 fine per unreported transaction as well as the requirement by the DRE to report said agent to state enforcement, which may result in the loss of the agent's license and/or additional fines and disciplinary action. This DRE rule also applies to "parked licenses".