Within the real estate industry is a position called a Referral Agent. To be a referral agent, you must have a real estate license; but, you may not practice real estate. In effect, you are a scout, keeping your eyes and ears open for anyone who may be thinking of buying and/or selling real estate. All you have to do, is refer us the lead. When it closes, you get to collect the fee! It’s that simple!!!
BECOME A REFERRAL AGENT
• 2nd—Take and pass the exams
• 3rd—Join the Cotton CORE Team or local Brokerage of your choice.
Here are the steps to refer a prospect or client who wants to buy or sell a home and get paid a referral fee if you are a real estate agent or broker:
1) Download, fill out, and sign a form called Referral Fee Agreement from C.A.R. and send it over.
2) Once we receive your referral document, we will give you a call within 24 hours for any additional information, and we will then sign the real estate referral fee agreement and send you the signed referral document by email.
4) The rest is then up to us. We will either call or email your referred prospect or client depending on their communication preference to introduce ourselves. Or we can do an initial three way call for a warm introduction.
5) You will be updated all throughout the process.
6) As we enter escrow, we will clarify broker commission payment instructions or commision disbursement allocation with the escrow company to verify 30% referral fee to be paid to your broker. Your split on this referral fee is determined by your agreement with your broker.
7) We will immediately notify you at close of escrow and give you an ETA on your referral commission check arrival along with details of the sale.