Once my referral closes/settles when do I receive my referral fee
Once your client has closed/settled on their home the agent assigned to the deal must get paid first. The closing coordinator will issue a check to the brokerage that agent is placed under.
Once the assigned agent's broker receives the check, it is their responsibility to send it to Realty Connect.
Realty Connect agents will need to fill out and submit a W-9 form before receiving their first referral commission payment from Realty Connect. Updated W-9 forms will also need to be submitted if any of the agent's information changes.
Realty Connect agents who received referral commissions the previous year will receive a 1099 form at the beginning of each year. This form will show referral commissions earned in order for agents to file their taxes.
Realty Connect offers referral commission payments via eCheck and paper check.
Once you have placed your referral we recommend going into your Agent Dashboard and filling out/updating your W-9. In order to get paid, the W-9 must be completed first.
You can access and update your W-9 by:
- Go to your Agent Dashboard (MyRealtyConnect.com)
- Log into your dashboard
- Select "Account Settings"
- Select "Access W-9"
- (To edit or update) Select "Open in Editor" (blue button) at the top right hand corner
- IMPORTANT: Do not forget to upload your W-9 to the Admin team you'll need to select the button that says "Upload Updated W-9"
Once Realty Connect has a completed W-9 from you and you have selected whether you want your check via mail or electronically our Executive Admin will complete the payment process based on your chosen method.
CAUTION: DUE TO USPS IF SENT BY MAIL PLEASE ALLOW 3 WEEKS FOR THE CHECK TO ARRIVE AS WE HAVE SEEN MAJOR DELAYS.
NOTE: Realty Connect uses a form of e-check called Deluxe Payment Exchange