You can earn a portion of the Real Estate commission off transactions worldwide, not just your local market with a referral company. See below:
If you currently have a Florida Real Estate license, and you are actively trying to list homes and drive Buyers around town to find them homes, you should not put your Real Estate license under a Real Estate Referral Company. It makes complete sense for you to join the Board of Realtors and Multiple Listing Service (approx $1500 annually) and take advantage of all that they have to offer. In this scenario, you are basically a full-time Realtor and you can make great money in Real Estate as long as you are able to produce business for yourself.
If you are currently one of the 80,000 Real Estate licensees in Florida whose license is on Inactive status, you might want to explore the option of a Real Estate Referral Company. A Real Estate Referral Company is meant for people who have a Florida Real Estate license but might currently be working another full-time job, they're retired, or they just don't have the time to sell Real Estate full time. If you happen to come across someone looking to buy or sell Real Estate, your Real Estate Referral Company is able to match up your prospect with the right Broker. The Broker who receives this referral will pay the Real Estate Referral Company a 25% referral fee of the gross commission on either the buy or the sell side after closing.
Now really start to think about this... If you decided to go the route of a full time Realtor, not only do you have to pay the Board of Realtors and the MLS to be a member, but you also have to pay your Broker a big chunk of your commission (average is 40%). Meaning you are making 60% of the total gross commission. Add on top of that, the amount of time and frustration it took for you to close the transaction. The gas money, car expenses and any other expenses that a Realtor incurs during the process of closing a transaction just to make a small cut of the commission. Meanwhile a Real Estate Referral Company makes 25% of the gross commission for doing nothing but referring their prospect to a full-time Realtor. That Real Estate Referral Company then decides how much of that 25% will go back to their Agent. At Park Place Realty Network, we give back 90% of that 25% referral fee. Other companies give back quite a bit less so be sure to shop around for the company that will benefit you the most.
A real estate referral company is a great option to those who have a Florida Real Estate license but are not able to sell full-time. Take a look at our website www.ParkPlaceNetwork.com to see the benefits we can provide for you. We are currently the fastest growing referral company in Florida. By looking at our aggressive program, you can see why.
Written by: Jeremy Weinberg