Q: Why become a Network Associate?
A: If you have a real estate license in the states of either Florida, Georgia or North Carolina and are not actively using it as a full-time agent, activate your license with us. You will earn top dollar by referring out your friends and family to the best agents worldwide on any type of real estate sale.
Q: How exactly do I earn a referral fee?
A: When you place a referral with us through our website, 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 us. Their broker will then pay Park Place a referral fee once the transaction closes. We can pay our agents quickly through ACH payment directly to your bank account or mail you your fee. Click here for a better example.
Q: What if I leave your company to go and sell real estate full-time?
A: Many of our agents leave our company to go and sell real estate full-time, and then come back to us when they don't want to sell real estate anymore and instead will place worldwide referrals. If you leave and come back within your annual renewal with us, we can re-activate your license for free. Also, we can pay you on any outstanding referrals that close up to 365 days from the day you leave our company vs the standard of other brokers that will keep your fee the day you leave. These are your referrals, you deserve to get paid on them.
Q: Will I really get my own Park Place webpage for free?
A: Yes, we will build you your own website page in which you can use to promote your referral business online, at no additional cost to new agents. This website is built to help you capture personal referral leads online and through social media. You can see an example of what your webpage would look like here.
You will also get a dedicated new construction search website too, at no cost, you can it view here. You can link this new home website to the above referral webpage with a whole section dedicated to new construction. If you are successful, then we are successful, which is why we provide you these websites at no additional cost to help you promote your referral business online.
Q: Bottom line, what is my out of pocket expense to be active in your company?
A: The only fee you have to stay active in our company is an annual administration fee of $100. This can be paid annually by credit card, or you can mail us a check. To sign up, click here.
Q: Does Park Place have an errors & omissions insurance policy?
A: Yes, Park Place holds a company errors & omissions policy in-case of any negligence.
Q: Which states can I have a real estate license in and be active with your company?
A: We currently can activate your real estate license if you are licensed in either Florida, Georgia or North Carolina. Keep in mind, you can live anywhere in the world and refer all over the world, you just need to be licensed in one of these states. If your license is in another state besides these three, you can easily get a Georgia license through reciprocity by filling out an application without having to take a test, and then placing that license with us. Get more details on this here.
Q: What type of real estate am I able to refer out and collect a referral fee?
A: You can refer out and earn a referral fee on residential, commercial, business brokerage, industrial, new construction & property managing real estate. The only type of real estate to where it is difficult to receive a referral fee is on residential rentals. Get all the details here.
*Our agents typically refer out their friends and family which are personal contacts. We can also refer out online or International leads, the referral process is just a little different.
Q: Can the annual administration fee be used as a tax write-off?
A: In many cases, the annual administration fee and any home office or mileage expenses can be used as a tax write-off. In some cases, the cost of your administration fee will be off-set by the savings you'll receive from your tax return. Consult with your CPA if you have any questions or concerns.
Q: How do I know if your company is legitimate?
A: Go to the the Florida Department of Business & Professional Regulation's website here, our license number is CQ1036946. In this section you have two options. One, click on "view license complaint" you will see we have no complaints. Two, click on "view related license information" you will see the many active licensees who have trusted us to place their license with our firm. Also take a look at our Facebook page here, view the feedback, conversations, and photos that take place on this page. Another great option is Google. Go to www.Google.com, type in our company name and research the internet exposure that we have. See our many great testimonials here.
Q: If I'm the one buying or selling, can I still earn a referral fee?
A: Yes, you would refer yourself out just like a regular referral. Park Place will make sure you are in the right hands with a top agent to handle the entire transaction for you. You would then earn the referral fee once the transaction closes.
Q: If I am coming to Park Place Realty Network from full-time status, can I maintain my membership in the local Board of Realtors and/or multiple listing services?
A: No, as a Network Associate, you will no longer have the expenses of those memberships. We are not members of any Board or MLS and is how we are able to get around those associations requiring our agents to pay those fees.
*But, you are allowed to be an active, full-time Realtor in another state that you might have a license in. We have many agents who are full-time Realtors in another state and they refer out their outside business through Park Place.
Q: How do I know that you are referring my prospect to the right agent?
A: Park Place specializes in real estate referrals. We have several ways we go about finding the top agent in each market. From recent sales data on over 1 million active real estate agents to established relationships with relocation directors who work for the largest real estate companies in the industry. Our main job is to make sure our referrals are working with the best agents in the business.
Q: Can I choose the agent who will receive my referral leads?
A: Yes, we place no restrictions on to whom, or to which brokerage company, you can refer your leads, as long as they are willing to work with our program. Their broker would just have to be ok paying our referral fee which is 30% and 25% for any sales below $200,000. The fee is paid on the closing of the buy or sell side of the transaction.
Q: Can I send my real estate referrals out Internationally, really?
A: Yes, we have the resources to find and refer out your referrals to top brokers all over the world. Referrals do vary however from country to country as real estate laws are different in each country. Park Place is not involved in the real estate transaction whatsoever, we are strictly referring to another real estate company for a referral fee.
Q: Are you able to convert my real estate commission to U.S. currency if it is an International referral?
A: Yes, Park Place will convert the real estate commission to U.S. currency at no cost. Keep in mind that the exchange rate will vary depending on which country the check is coming from. You can get an idea on current exchange rates here. Checks can sometimes take up to 30 days to clear, but usually much sooner.
Q: What is the advantage of keeping my license active?
A: You are not legally able to collect any type of Real Estate commissions or referral fees by staying Inactive. Your Real Estate license needs to be under a Broker in order to earn a real estate commission. By staying inactive, you are paying fees to the state and real estate schools for CE and are not allowed to earn any type of real estate commission in this status.
Q: How can you legally collect a real estate commission outside the state/country you're licensed in?
A: Referral fees are paid between broker to broker and are completely legal. We are referring real estate business to a broker in a state or country that is legally licensed to practice there and we do not interfere with the transaction whatsoever once it is referred out.
Q: Can I continue as a referral associate if I move out of state or even the U.S.?
A: Yes, the majority of our agents live outside of the state that they are licensed in. We have active agents who live as far as Japan.