A CENTURY 21 office in Ontario is an independently owned and operated brokerage sublicensed to use the CENTURY 21 trademark and system — buying or selling one means a RECO brokerage registration and broker of record designation changing hands, on top of Century 21 Canada's own review of the transfer. One detail worth flagging early: many CENTURY 21 offices trade under a combined name, such as "CENTURY 21 [Broker's Name] Realty," often built around the outgoing broker's own name, so part of the sale conversation is whether that trade name continues under new ownership or gets retired along with the seller.
Century 21 resales follow the franchisor's own approval process on top of the usual purchase mechanics — here's how the two run together.
Getting approved
The offer sets price and structure, conditioned on both the franchisor's consent and confirming who will serve as the buyer's broker of record going forward.
2–3 weeks†Century 21 Canada Limited Partnership reviews the incoming owner's real estate background and financial capacity before consenting to the trademark sublicense continuing under new ownership.
4–8 weeks†A franchise disclosure document may still be required for this resale — Ontario courts read the resale-disclosure exemption narrowly, so franchisor involvement in matching a buyer to a seller can trigger it even where it's called a private deal.
assessed early, in parallel†Getting to closing
The brokerage's RECO registration and its designated broker of record typically go through their own separate regulatory review, independent of Century 21's franchisor sign-off.
6–10 weeks, in parallel†Where the office trades under a combined name built around the outgoing broker, the parties work out whether it continues, is licensed to the buyer, or is retired at closing — alongside confirming which affiliated agents plan to stay.
2–6 weeks†Funds, the sublicense agreement, and the brokerage's registration all change hands together, with RECO's approval and Century 21's consent both confirmed beforehand.
1 day, once conditions are met†CFA Look For A Franchise listing confirms Century 21 Canada Limited Partnership as the master franchisor for the Century 21 real estate brand in Canada, in business since 1976, actively recruiting brokerage franchisees via its official Canadian franchise site
A substantial Ontario brokerage base within Century 21's large Canadian franchise network
This is the first real decision in a Century 21 resale — and it changes what you're buying, what you're taking on, and how the franchise agreement moves.
| Question | Asset purchase | Share purchase |
|---|---|---|
| What you buy | The brokerage's assets — its trade name rights (where assignable), agent roster relationships, listings pipeline, and the benefit of the sublicense agreement, subject to Century 21's consent. | The shares of the brokerage corporation — everything it owns, and everything it owes, including its existing RECO registration history. |
| Trademark sublicense agreement | A new sublicense is typically issued to the incoming owner on Century 21's current terms. | The existing sublicense can potentially stay in place, with Century 21 still reviewing and consenting to the change of control. |
| RECO brokerage registration & broker of record | The buyer's brokerage entity generally needs its own RECO registration and a qualified broker of record before operating. | The existing corporate registration can potentially continue, subject to RECO's review of the ownership and broker of record change. |
| Combined trade name | Where the office name is built around the outgoing broker's own name, a separate agreement addresses whether the buyer can keep using it, must phase it out, or negotiates a licence to retain it for a transition period. | The corporation's registered trade name generally continues as-is, since the entity itself hasn't changed. |
| Sales representatives / agents | Agents are typically independent contractors who choose whether to re-affiliate with the office under its new ownership. | Agent affiliation agreements generally continue with the corporation, though individual agents can still choose to leave. |
| Typical use | Common where the buyer wants a clean corporate start or is bringing in outside capital. | Common where preserving the existing brokerage's registration history and agent roster matters most. |
The brokerage's assets — its trade name rights (where assignable), agent roster relationships, listings pipeline, and the benefit of the sublicense agreement, subject to Century 21's consent.
The shares of the brokerage corporation — everything it owns, and everything it owes, including its existing RECO registration history.
A new sublicense is typically issued to the incoming owner on Century 21's current terms.
The existing sublicense can potentially stay in place, with Century 21 still reviewing and consenting to the change of control.
The buyer's brokerage entity generally needs its own RECO registration and a qualified broker of record before operating.
The existing corporate registration can potentially continue, subject to RECO's review of the ownership and broker of record change.
Where the office name is built around the outgoing broker's own name, a separate agreement addresses whether the buyer can keep using it, must phase it out, or negotiates a licence to retain it for a transition period.
The corporation's registered trade name generally continues as-is, since the entity itself hasn't changed.
Agents are typically independent contractors who choose whether to re-affiliate with the office under its new ownership.
Agent affiliation agreements generally continue with the corporation, though individual agents can still choose to leave.
Common where the buyer wants a clean corporate start or is bringing in outside capital.
Common where preserving the existing brokerage's registration history and agent roster matters most.
We tell you which structure fits — before you sign anything.
No open-ended hourly surprises — the cost is confirmed in writing before any work begins.
| Type of work | Fee | How it's confirmed |
|---|---|---|
| Straightforward purchase or sale | Starting from $3,388.87 Our charges · taxes included | Confirmed in writing once we see the agreement. |
| Larger or more complex deal | Quoted to scope | Short call → fixed written quote before any work begins. |
| Searches, filings & third-party fees | At cost | Itemized on your invoice, not marked up. |
A single CENTURY 21 office changing hands between an outgoing and incoming broker/owner, including a negotiated decision about whether the office's combined trade name continues.
Start my file →A multi-office CENTURY 21 group changing hands, a broker of record transition RECO is reviewing closely, or a sale where a meaningful share of agents may not re-affiliate under the new name or ownership.
Book a consultation →Not sure which you are? That's our job to figure out, not yours. As a rough guide, most deals under a couple of million dollars are the first kind — above that, you're usually in Mergers & Acquisitions territory.
Not automatically. A combined trade name like "CENTURY 21 [Broker's Name] Realty" is often tied to the outgoing broker personally, so the purchase agreement needs its own terms covering whether the buyer can keep using it, for how long, and on what basis — this is a negotiated point, not something the trademark sublicense settles by itself.
No — it's a real estate brokerage, so alongside the usual franchisor consent and Arthur Wishart Act disclosure considerations that apply to any Ontario franchise resale, you're also dealing with RECO's separate regulatory approval of the brokerage's registration and its broker of record. There's no lease-only closing risk here — the regulatory approval timeline can run just as long as the franchisor's own review.
RECO reviews and approves the individual serving as broker of record, separate from Century 21's own consent to the ownership transfer — both are typically needed before the office can operate under new ownership, and we coordinate the timing so one doesn't stall the other.
Real estate agents are typically independent contractors, so they generally choose whether to re-affiliate with the office under new ownership rather than transferring automatically. Keeping the existing roster engaged through the transition is often as commercially important as any legal step in the deal.
Not really — the franchisor's own history doesn't change what RECO requires of the brokerage and its broker of record. A long-running system does typically mean more standardized paperwork and a more predictable consent process, but the regulatory steps themselves are the same ones any Ontario brokerage sale goes through.
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Where we close franchise resale deals
Treadstone Law is an independent law firm. We act for buyers and sellers of franchise businesses. We are not affiliated with, endorsed by, or retained by Century 21 or its franchisor.
Tell us about your Century 21 resale — we'll point you the right way and confirm the cost in writing before any work begins.