What does it mean to be a referral agent with Realty Connect?
A Referral Agent is a licensed real estate agent whose services are limited to referring clients for the purposes of commencing a real estate transaction. They do not actively solicit or engage in the sale of property.
Can I represent buyer/sellers?
Realty Connect agents may ONLY refer their leads and earn referral commission fees. Listing homes and/or representing buyers is NOT permitted.
To do so would be a violation of our AFFILIATION AGREEMENT and would result in immediate license termination, forfeit of any/all pending referral commissions, and appropriate legal action.
If you ever want to become an active agent, no problem! Simply let us know and we’ll help you transfer your license to another firm. You can cancel your membership or transfer to another broker at any time.
Breakdown
As a Realty Connect agent your license will remain active in the eyes or your specific state's real estate commission. They will recognize you as a fully active agent vs a "referral" or "non-practicing" agent.
Although you're active in the eyes of the state, you would not carry any of the necessary memberships/insurances to represent buyers and sellers. In an attempt to save our agents money, we allow them to operate as referral agents without having to pay association dues, MLS fees, E&O insurance or lockbox fees.
This provides our agents the ability to keep their license active for a small fee, get paid for referrals placed and continue to build their real estate business with minimal out of pocket cost.
Why do I need Realty Connect?
Any agent that is wanting to legally get paid for a referral transaction must be signed with a brokerage registering them as active with the commission. Although the agent is capable of doing so with a traditional brokerage, they would still be required to hold the same memberships as their broker (associations, MLS, lockbox, etc...).
If an agent is paying those dues/fees but not making enough in commissions to pay for those dues/fees then Realty Connect would give them an opportunity to limit out of pocket while getting to a point where the business is significant enough to cover beyond those dues.