Question 1

Why should I keep my license active?

Accepted Answer

You cannot legally collect any type of real estate commissions or referral fees when your license is inactive. Since you are paying the state fees to keep your license and for CE credits that are required. Why not activate your license under our brokerage so you can earn commissions?

Question 2

Can I legally collect a real estate commission outside the state I’m licensed in?

Accepted Answer

Referral fees are paid between brokers and are completely legal. If one broker refers business to another broker whether in the same state or a different state it doesn’t matter, it’s legal.

Question 3

How do I know if your company is licensed and legit?

Accepted Answer

Visit the Florida DBPR (Department of business & professional regulation) at https://www.myfloridalicense.com . You can search our brokerage name or our license number CQ1065676.

Question 4

How do I earn a referral fee?

Accepted Answer

When you place a referral with us through your Client/Agent Portal, we will make sure your referral is in the right hands with a top agent in their market, on any type of real estate sale. This top agent will handle the entire transaction for you. Their broker will then pay Realty Referral Connection Inc. a referral commission once the transaction closes. You will receive 100% of that referral commission less a $250 admin fee. You also have the option to pick your own referral agent to send your referrals to. This way you can negotiate the referral commission amount you want. There is a form for this under the "Documents" tab. If you choose your own referral agent we will need a signed copy of the referral form emailed to us at: info@realtyreferralconnection.com.If we send the referral out through our network the referral commission rate is 25%.

Question 5

Can I sell new builder homes?

Accepted Answer

Yes, as long as you sell new builder homes in the state of Florida you can be the selling agent and earn a commission. It can be a home for yourself or someone else. You just need to make sure that you are listed as the selling agent and Realty Referral Connection Inc. is listed as the brokerage on the builder contract. In this case, once the builder pays Realty Referral Connection Inc. the commission you will receive 90% of that commission. Please note with any Buyer you will need to fill out a "Buyer relationship and buyers agent commission agreement. This form is under the "Documents" tab. Once the form is completed and signed you will need to email a copy to the office at: info@realtyreferralconnection.com.The builders agent may want a copy also.Before filling in the commission percentage on the form, check with the builder and ask what commission percentage they are paying. You CAN NOT receive a higher commission percentage than the percentage listed on the form. If needed, you can cancel the agreement with a buyer and rewrite a new agreement. But you can only have one agreement at a time. (Ex: Builder A is paying 3% and Builder B is paying 4%. Write a separate agreement for each builder, but one at a time).

Question 6

Can I list homes for sell or help buyers buy re-sale homes?

Accepted Answer

No, as a referral brokerage you will be limited to either making referrals or selling new construction builder homes only. You can either submit the referral information through the agent portal or choose to use an agent you prefer by using the referral form under the "Documents" tab.If you choose your preferred referral agent we will need a copy of the signed referral form emailed to us at: info@realtyreferralconnection.com.

Question 7

What about having Error & Omission (E&O) Insurance?

Accepted Answer

Currently we do not carry E&O insurance since we only refer buyer and seller leads to other agents or have the builder representative write the purchase agreements with the buyer. Realty Referral Connection Inc. may at a future date acquire and maintains an E&O insurance policy.  In that event the agents would be covered under the policy for legally allowable real estate activities that they perform as our agents for a commission or fee. Agents who are responsible for any legal claims or legal disputes will be liable to pay the E&O insurance deductible of $2,500 per incident and any other amount not covered by the E&O insurance.

Question 8

Can I submit referrals in all states?

Accepted Answer

Yes, in all 50 states you can refer customers to either buy or sell homes and earn a referral fee. We have a network of qualified Realtors® in all 50 states that are willing to pay our brokerage a referral fee.

Question 9

Can I choose the agent my referral lead goes to?

Accepted Answer

Yes, you can choose your own referral agent to send your referrals to by using the referral form under the "Documents" tab. You can also negotiate the referral commission amount you want. If you choose your own referral agent we will need a signed copy of the referral form emailed to us at: info@realtyreferralconnection.com.If we send the referral out through our network the referral commission rate is 25%.

Question 10

What will I need to submit the referral?

Accepted Answer

We would need some basic information depending on if it is a buyer or seller referral. For both we would like their name, phone number, email and the timeframe they are looking to buy or sell within. Then if it’s a seller, we would need the property address. If it’s a buyer we would need to know in what city/state they are buying in and their price range. There will be a field to add any additional information (like special details or if you want to refer to a certain Realtor®).

Question 11

What about real estate association’s fees and MLS fees?

Accepted Answer

As a referral agent you won’t be a member of any real estate associations or multiple listing services (MLS). Therefore you will not have any of those fees. You can make referrals and new construction builder sales without being a member of either. As long as your real estate license is active with the State of Florida.

Question 12

Okay, Now tell me the bottom line, what exactly does it cost for me to join your brokerage?

Accepted Answer

The only fee you have to stay active with our brokerage is a monthly office fee of $9.99. This would be paid by credit card set on monthly auto-renewal of $9.99 until cancelled. You can cancel at anytime by notifying us 15 days prior to your next billing. Monthly fees are not prorated and are not refundable.

You would also need to pay your normal state license fee with the State of Florida and the cost of any CE courses required by the state.The only other fees we have are as follows:Referral commissions payout is 100% of commission minus a $250 admin fee.New Construction Builder commission payout is 90% of the commission paid to our brokerage. NO HIDDEN SMALL PRINT.

Q & A