The Perks of Becoming a Referral Agent

Filed under: For OC Realtors

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Are you a licensed real estate agent considering leaving the industry or letting your license expire? Before making that decision, consider the benefits of becoming a referral agent. You can stay connected to the real estate world without the hassle of traditional agent responsibilities. Take the break you need without giving up your certification and staying active in some way.

The Benefits of Licensed Referral Agents

  1. No Dues: When you become a referral agent, you have the opportunity to work with your local board of realtors and hang your license underneath a broker. The arrangement is in your favor because you do not have to pay the board or broker any dues. You can stay connected with the industry without having to pay ongoing fees. It’s a win-win situation for those who want to keep their options open.
  2. No Insurance Needed: When you are a fully active real estate agent, you need insurance to cover any mistakes you might make as you process transactions for each property. Since you will not be actively involved in transactions, you do not have to have insurance. Another advantage of being a referral agent is that you don’t have to carry insurance.
  3. Passive Income: As a licensed referral broker, your primary responsibility is to refer any business that comes your way to a working agent at the brokerage you’re affiliated with. Stay connected with your network and pass on referrals as they come. Then, when the deal comes to a close, the working agent pays you a split from that business as a referral fee. It’s a simple and straightforward process that allows you to earn income without the stress and time commitment of being an active agent.

You never know who might approach you with real estate needs. It could be a family member, a friend, or a former colleague. As a referral agent, you can still offer your help by referring them to a competent real estate agent. And you can collect your referral fee in the meantime.

Contact Cale at Properties Direct

Are you a licensed real estate agent in Temecula? Talk to us about being a referral agent. We can help you see the benefits of keeping your license active. Contact me by text, email, or phone: (951) 473-0390 or [email protected].