A Royal LePage office is an independently owned and operated real estate brokerage carrying the Royal LePage name — so buying or selling one isn't a storefront resale, it's a change of control over a RECO-registered brokerage. The lease matters, but the broker of record, the agent roster, and the franchisor's own consent typically drive the timeline more than anything on the premises.
Royal LePage 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 the buyer confirming they can meet RECO's brokerage requirements and on the franchisor's consent process going smoothly — not just financing.
1–3 weeks†Participation in the Royal LePage network typically requires the franchisor's review and approval of the proposed buyer and the plan for the office, alongside confirmation of who will serve as broker of record going forward.
several weeks, typically†A franchise disclosure document may still be required for this resale — Ontario courts read the resale-disclosure exemption narrowly, so franchisor involvement in matching buyer to seller can be enough to trigger it.
assessed early in the deal†Getting to closing
The office lease needs the landlord's written consent to assign into the buyer's name, coordinated with the franchisor's own timeline so one doesn't stall the other.
2–6 weeks†RECO requires every brokerage to have a broker of record in place at all times, so that registration detail gets confirmed and filed alongside closing. Agents are typically independent contractors, so retaining them is a separate conversation, not an automatic transfer.
ongoing through closing†Funds, records, and signed documents change hands; trust ledgers are reconciled as of the closing date and the brokerage's RECO registration is updated to reflect the new ownership.
1 day, once conditions are met†royallepage.ca/en/franchise-with-us/ is a dedicated franchise page; footer confirms 'all offices are independently owned and operated' across a large network of Canadian offices.
Ontario brokerages named directly (e.g. Royal LePage Credit Valley Real Estate, Mississauga area).
This is the first real decision in a Royal LePage 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 operating assets — its office lease, brand licence, agent relationships, listing pipeline, and trust-account systems. | The shares of the brokerage corporation itself — including its RECO registration history and everything it owes. |
| Seller's liabilities | Generally stay behind with the seller's existing corporation. | Generally come with the company, known and unknown. |
| RECO brokerage registration | Typically involves a new or amended brokerage registration in the buyer's name, with a qualified broker of record confirmed before closing. | The existing registration can often continue under the corporation, but RECO must be notified of the ownership change and the broker of record reconfirmed. |
| Franchise agreement (Royal LePage network) | Franchisor consent for the specific office, often paired with a new or updated agreement. | Franchisor consent for the change of control — the network reviews who is actually taking over. |
| Agents | Independent-contractor agreements with agents don't automatically transfer and are usually re-papered with the incoming ownership. | Agent agreements generally continue as-is, since the contracting brokerage entity doesn't change. |
| Tax angle | Buyer gets a stepped-up cost base on the assets purchased. | Seller may access the lifetime capital gains exemption on qualifying shares. |
| Typical use | The default for a single office changing hands. | More common for a group holding several offices under one operating company. |
The brokerage's operating assets — its office lease, brand licence, agent relationships, listing pipeline, and trust-account systems.
The shares of the brokerage corporation itself — including its RECO registration history and everything it owes.
Generally stay behind with the seller's existing corporation.
Generally come with the company, known and unknown.
Typically involves a new or amended brokerage registration in the buyer's name, with a qualified broker of record confirmed before closing.
The existing registration can often continue under the corporation, but RECO must be notified of the ownership change and the broker of record reconfirmed.
Franchisor consent for the specific office, often paired with a new or updated agreement.
Franchisor consent for the change of control — the network reviews who is actually taking over.
Independent-contractor agreements with agents don't automatically transfer and are usually re-papered with the incoming ownership.
Agent agreements generally continue as-is, since the contracting brokerage entity doesn't change.
Buyer gets a stepped-up cost base on the assets purchased.
Seller may access the lifetime capital gains exemption on qualifying shares.
The default for a single office changing hands.
More common for a group holding several offices under one operating company.
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 Royal LePage office changing hands between a departing broker of record and an incoming buyer — an established agent roster, a straightforward lease, and a standard consent process.
Start my file →A multi-office brokerage group changing hands as one operating company, or a resale where the franchisor's right of first refusal or a disclosure question needs to be worked through before terms are final.
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 really. There's no inventory or equipment driving value — the deal turns on the brokerage's RECO registration, its agent roster, and its listing pipeline. A buyer typically needs to be, or arrange for, a broker of record who meets RECO's requirements before the deal can close.
Not automatically. Agents are typically independent contractors of the brokerage rather than employees, so their continued affiliation is a relationship to be negotiated and re-papered, not an asset that transfers on its own.
Generally, the franchisor reviews the proposed buyer's qualifications and plans for the office, alongside confirming a qualified broker of record is or will be in place. A right of first refusal is a common feature of these agreements, letting the franchisor step in on the same terms if it chooses to.
Often, yes. A group of offices held under one operating company more commonly changes hands as a share sale, so each office's registration, agent agreements, and lease stay intact together rather than being unwound and re-consented individually.
It can. The same narrow reading of the resale-disclosure exemption that applies to other franchise resales applies here — franchisor involvement in the sale process can be enough to trigger a full disclosure requirement, so whether it applies gets confirmed early rather than assumed.
Related
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 Royal LePage or its franchisor.
Tell us about your Royal LePage resale — we'll point you the right way and confirm the cost in writing before any work begins.