Switching referral companies
What to ask any referral company.
Before you move your license, ask any referral company the same seven questions. Is there a person to call? Who vets the agent? What's your split after fees? Can you refer out of state? Here are our answers, so you can compare.
The checklist
Is there a person you can call?
SJRN: Yes. You call us about a referral and talk it through with a person who knows the agents.
Who vets the agent your client gets?
SJRN: We research, vet and screen the agent for that client and that town, so the referral actually closes. Or you can name the agent yourself.
What's your split after fees?
SJRN: You keep 80% of the referral fee. The membership is $100 a year. No MLS, board, E&O or desk fees on top.
Can you refer out of state?
SJRN: Yes. Anywhere in the world. We find the agent where your client is going.
Who handles the license transfer?
SJRN: We do, with the state. You fill out a short form.
Do you have to do continuing education?
SJRN: Not while you're a referral agent. The NJ Real Estate Commission doesn't require it.
Can you go back to active later?
SJRN: Want to sell again? You can switch back to active status quickly: usually within a day, and in minutes if you have a live listing.confirm: George, before launch
SourceNJ Real Estate Commission, Restrictions upon brokerage activities of referral agents (PDF), and the Commission's own answers collected in our referral agent FAQ. Rules change. When in doubt, the Commission's word wins.
Ask everyone the same questions. Then decide.
Switching is simple. Fill out the join form and we take care of moving your license from your current office.