Frequent Asked Questions: “Refer Only Agents”:
WHAT IS A “REFER ONLY” AGENT?
Is a real estate agent with an active license who only make referrals and do not engage in ANY degree in activities requiring a real estate license including: in listing, selling, leasing, renting, managing, counseling, or appraising real property.
I HAVE A CALIFORNIA REAL ESTATE LICENSE, WILL LIONS REALTY GROUP WORK FOR ME?
Yes. LIONS REALTY GROUP is a fully licensed employing real estate broker with the California Bureau of Real Estate. License #02014552. It is an easy and FREE process to transfer your license us with the California BRE elicensing system.
HOW DO I HANG MY LICENSE WITH LIONS REALTY GROUP?
Simply email us at email@example.com and we’ll respond with an email to you containing all of the documents required to transfer your license to Lions Realty Group including:
- Independent contractor agreement
- Office policy manual
- Referral Strategies
- Referral Form Template
For your ease and convenience these docs can be completed and signed online. We’ll then certify your license transfer via the California Bureau of Real Estate elicensing system.
HOW MUCH DOES THE CALIFORNIA BUREAU OF REAL ESTATE CHARGE TO TRANSFER MY LICENSE TO A NEW FIRM?
There is NO CHARGE to transfer to a new firm with BRE, and very easy to accomplish online thanks to the California BRE elicensing system.
ARE THERE ANY BOARD FEES, MLS FEES, MONTHLY OFFICE FEES, OR E&O INSURANCE FEES?
NO! As a Refer Only Agent, you won’t be a member of any board of realtors, MLS service, or have to pay monthly office fees or E&O Insurance.
Our membership fee is only $100.00 per year and is deducted out of your first referral check – so NO UPFRONT FEES.
HOW MUCH CAN I EARN?
The only limit is what you put on yourself. You are in control of your income stream. A 25% referral of a $300k purchase or sale could put $1,800 in your pocket with almost NO EFFORT…easy money thanks to your valuable active license! Think of all the potential referrals you make with family, friends, co-workers, past clients, neighbors, church, school and trade organizations, gym, etc. Just by keeping your real estate license active gives you the best part time job ever!
HOW DO I GET PAID?
Once Lions Realty Group receives the commission check from the close of your referral, we’ll either mail or wire the funds. At year end you’ll receive a 1099 to report your earnings, no taxes will be deducted.
CAN I CHOOSE THE AGENT THAT WORKS MY REFERRAL?
Yes, you may choose any licensed agent anywhere in California or the world to work your referral. You aren’t limited by geography when earning great money on your referrals. You may refer residential, commercial, new construction, and even land deals!
HOW DO I PLACE A REFERRAL WITH LIONS GROUP REALTY?
Simply fill out the Referral Form which you will receive a link to once you are a member of Lions Realty Group.
HOW DO I KEEP TRACK OF THE STATUS OF MY REFERRAL?
Easy! We track the progress of your referral for you from placement through closing, and simply send you a link or email status that will always have updated transaction status, which you can check as often as you’d like.
ARE THERE ANY DEDUCTIONS FROM MY REFERRAL COMMISSION?
Our splits are designed to put more money in your pocket! We have the most competitive split of all Refer Only Agent Brokers in California! We charge either a minimum flat fee of $320.00 or 10% of your referral fee on closed referrals. So for example, if your second referral check of the year is $4,000.00 the maximum you pay us is $400.00 and that is it – NO office fees or any other fees.
WHAT IF MY LICENSE IS INACTIVE OR EXPIRED?
No problem depending on the length of time. It’s easy to reinstate or renew with the California BRE elicensing system.
DO I HAVE TO STAY ACTIVE WITH BRE AND COMPLETE CONTINUING EDUCATION REQUIREMENTS?