|Posted by flparkplacerealty on February 7, 2018 at 4:35 PM|
Right now you are probably wondering what you should do with the Florida real estate license that you worked so hard to get. Don’t worry, you are not alone as there are currently around 80,000 people who have a Florida real estate license that is on Inactive status and another 23,000 who are on Involuntary Inactive status and will go Null and Void over the next 2 years.
The reason why there are so many people with this status is that when they got their license, the real estate school they went to never really explained to them about the Board of Realtors. They had no clue that in order to be a full-time agent you had to pay an organization hundreds of dollars each and every year in order to sell real estate. In order to be successful in selling real estate full-time, you would have to join the Board and the MLS as they have regulated our business to where there is no way around it.
Most of these agents who are on Inactive status currently have other obligations besides selling real estate full-time. The best option for these agents is to place their license with a real estate referral company. These types of companies are not associated with the Board of Realtors or the MLS. You will have no Board or MLS fees if you are Active with this type of company. Instead of selling though, you would refer any of your prospects out to someone who does sell full-time as a Realtor. This Realtor would then pay a “referral fee” typically 25% of the total gross commission to your brokerage who would then pay you your cut of the commission. Referrals are not bound to just one state but to all states throughout the U.S. which means if you have a Florida license, you could refer a prospect to a brokerage in California and collect the “referral fee”.
If this is your situation, then you should hang your Florida Real Estate license with us. Take a look at our website www.ParkPlaceNetwork.com to see the benefits we can provide for you as we pay top dollar to our agents. We are currently the fastest growing referral company in Florida. By looking at our aggressive program, you can see why.
Written by: Jeremy Weinberg