Why Become a Referral Agent?

You’ve invested considerable effort to earn your valuable Active Florida Real Estate License, so let it work for you, even if you’re not actively selling real estate.

 

What/Who is a Referral Agent?

A Referral Agent is an Active Real Estate Licensed real estate professional who chooses not to work directly with clients for various reasons. Becoming a Referral Agent is an affordable way to keep your valuable license active while earning income. Common reasons to become a Referral Agent include:

 

1. You are a new agent and not ready to sell full-time.

2. You are a part-time agent who doesn't want full-time responsibility.

3. You are an experienced agent entering retirement but still have past clients and a sphere of influence to refer.

4. You are deployed military personnel.

 

Referral Agents connect people they know—such as friends, family, and other prospects—with Realtors or other agents and earn referral income. Consider the potential leads within your network, including family, friends, co-workers, past clients, neighbors, church members, school contacts, and trade organizations.

                                           

As a Referral Agent, you agree not to act as a Sales Associate or engage in any client-facing roles. You will be completely hands-off in the transaction. Since you won't be a Realtor, you won't have access to the MLS, the ability to list properties, or work with buyers. However, this also means you won't have to pay expensive Realtor board dues, MLS dues, franchise fees, lock box key fees, office fees, advertising costs, or any other miscellaneous fees typically associated with being a Realtor.

 

 

Who’s eligible:

 

1. If Your Florida Real Estate License is in Current, Active Status: For your license to remain active, you must still be listed under a broker. If you have not worked in real estate for some time, it's possible your broker forgot to notify the Department of Business and Professional Regulation (DBPR) that you are no longer with them. Regardless, RE Referral Network can activate your license without any issues, and you won't need to contact your previous broker.

2. If Your Florida Real Estate Sales Associate License is in Current, Inactive Status: You are ready to become a referral agent with RE Referral Network. We can easily switch your status to active once you sign our agreement. Contact us now (add link) to get signed up.

3. If Your Florida Real Estate License is in Involuntary, Inactive Status:

The steps to reactivate your license depend on how long ago it expired and whether you are up-to-date on your continuing education (CE) requirements. Here are the rules:

If you have an expired Real Estate License in Florida, you face one of three possible scenarios:

 

Involuntarily inactive for 12 months or less: Reactivate by completing the required 14 continuing education credit hours (if not already completed) and paying the renewal and late fee.

 

Involuntarily inactive for more than 12 months but less than 24 months: Reactivate by completing a 28-hour reactivation course and paying the renewal and late fees.

 

Involuntarily inactive for more than 24 months: Your license is considered expired and cannot be reactivated. In this case, your license status will be "null and void." You will need to either start the licensing process from scratch or request a hearing before the Florida Real Estate Commission (FREC).

 

It’s easy to get started:

 

Here are the pricing details:

 

- One-time sign-up fee: $64.95

- 6-month subscription: $74.94, or 1-year subscription: $134.95

 

For residential referrals:

- You receive 80% of the referral commission, and 20% goes to the RE Referral Network.

 

For commercial referrals:

- You receive 50% of the referral commission, and 50% goes to the RE Referral Network.

 

For residential leases:

- Typically, the receiving agent doesn't pay a referral commission when you refer a prospect for a residential lease.

 

 

How the process works:

 

1)When you refer friends and family to a Realtor through the RE Referral Network Referral Form (link included), both brokers must sign the form before the prospect's information is shared with the receiving Realtor.

 

2) Upon the closing of the transaction by the friends and family you referred, the referral fee must be disclosed and displayed on the Settlement statement. The Closing Agent/Title Company will then either mail a check directly, email an E-Check, or wire funds (with a small wiring fee possibly applicable) to "RE Referral Network".

 

3) Upon receipt of payment by the RE Referral Network, your payment will be processed and sent to you via E-check within three business days.

 

4) At the end of the year, you will receive a 1099 form to report your earnings, with no taxes deducted.

 

 

Who we are:

 

RE Referral Network is an accredited Florida Real Estate Brokerage with a multi-generational, family-owned, and operated legacy spanning 60 years in the Florida real estate landscape. We stand as a respected and relied-upon institution for agents seeking to affiliate their licenses, all while cultivating a passive income avenue through the referral of both buyers and sellers.

 

Embark on your journey with us today!

 

For inquiries and detailed answers to your questions, feel free to reach out to our Chief Explainer, Roger Edwards, directly at (954) 558-4844.