A person with a current NJ real estate license who is not selling or listing properties but keeps their license "active" by placing it in the referral brokerage.WHAT ARE THE BENEFITS OF BEING A REFERRAL AGENT?
- A referral agent may receive monies for referring buyer or seller information which results in a closed real estate transaction. Referral agents pay a small processing fee to maintain their license while not paying dues or association memberships.
- Referral agents licensed in NJ are not required to take continuing education courses.
- We process your license renewal and pay the monies due the state from your fees. This is a $100 saving for agents and a $200 saving for brokers.
You must have a NJ real estate license (see http://www.state.nj.us/dobi) and then fill out the Agent Application for Real Estate Connection. Once submitted, you will be contacted within two business days. For Licensing questions, call (866) 817-5870 or Email UsWHAT IS AN EXAMPLE OF A REFERRAL FEE?
This is an example of how referrals are calculated:
- Home sale of $500,000
- Negotiated commission of 3% $15,000
- 25% referral to Real Estate Connection $3,750
- Referral agent receives $2,250.
- All fees are negotiable
Ask the person(s) to be referred for permission to send their information to another broker. Request the best time and number to call and note this in the special instructions section on Real Estate Connection referral form. Collect as much information as possible to make a "qualified referral". Referrals will not be accepted by our network if they do not contain the following:
- Current address
- Phone number
- Buyer must provide city for purchase (not county)
- Lister must provide address of listing, property type, details if currently listed
- Additional information that is useful is email address, wish list for potential purchase, prequalified for mortgage and amount.
- Fill the Place a Referral Form.