When it comes to real estate, the business model is ever-changing. To maximize success and meet their financial goals, many agents are turning to hanging or parking their licenses instead of working as an independent agent. This strategy offers a variety of benefits that can help you stay ahead in the real estate game. Let’s look at what you need to know about hanging or parking your license.

What is Hanging or Parking Your License?

Hanging or parking your license means having an active real estate license with a broker even though you don’t work actively selling real estate. Instead, you refer all clients to an agent of your choice and receive referral fees for each client you send their way that closes a transaction. That way, you get to keep your license current while still taking advantage of referral opportunities, Tax deductions, and no REALTOR® or MLS fees with the potential of earning thousands in referral fees.

The Benefits of Hanging or Parking Your License

There are several key benefits of hanging or parking your license.

• You can remain active in the real estate market without having to commit to a full-time job. This allows you more freedom and flexibility since you won’t be tied down by set hours and deadlines.

• You can focus on building relationships with clients rather than worrying about paperwork and other administrative tasks associated with traditional employment roles in real estate.

• Put your valuable California Real Estate license to work and earn thousands of dollars a year with agent-to-agent referrals.

• As an Active agent (business owner) you could seize many of the tax deductions available.