FAQ

We are a licensed real estate brokerage firm set up as a “holding company” where you can “park” your license. It allows us to hold your license so you can keep your license active. When you affiliate with our Company, your license will be active with the Georgia Real Estate Commission the same as affiliating with a full-service brokerage firm. We abide by the same State laws and regulations. 

You don’t have to pay any monthly fees, Board dues, MLS fees, Supra fees, Errors and Omissions insurance, desk fees, or any other “nickel & dime” fees. You can keep your license active that you’ve worked long and hard to obtain and continue to use it to generate income while you pursue projects, go on maternity leave, change careers or just to take a well-deserved break. 

Any Georgia real estate licensee living anywhere in the U. S. or the world with an active, an inactive, or a new license. 

No, we do not charge a fee for applying or registering. 

Yes, we charge an annual fee of only $79. It is due at the time of joining and on your subsequent anniversary dates.

You refer someone who wants to buy or sell real estate to an agent of your choice in any participating real estate company or you can ask us to place that person with an agent. After a sales transaction, we receive a referral fee and then we pay you for your portion of the commission.

From a referral fee check (the amount that was pre-negotiated or typically 25% of the selling commission), you keep 80% and we keep 20% for the administrative/broker fee.

Example:

• $350,000 sales price x 3% commission to Selling Broker = $10,500
• 25% Referral fee = $2,625
• 80% of Referral fee paid to you ($2,625 x .80) = $2,100

Let them know that you are a “Referral Agent” who can refer them to a qualified agent that you think would best represent them. You are a “matchmaker” so-to-speak. As a real estate professional you know the agents who could best take care of their real estate needs.

No. As a referral agent, you are not allowed to actively practice real estate. You will not be showing properties, listing properties, suggesting a listing price, or take part in any sales or leasing transactions.

Single-family residences, townhouses, condos, multi-dwelling units, residential developed lots and land.

Anywhere in Georgia or anywhere in the United States.

Go to Agent Login on the menu bar, download the Referral Agreement form. Complete the “Broker Agreement to Pay Referral Commission” and submit to the brokerage firm/agent receiving a buyer or a seller referral from you for their signature.  Please send a copy of the agreement signed by both parties to Referral Realty & Associates for the broker file.

Within ten business days to allow time for funds to clear from the brokerage paying the referral fee.

If you are an agent with an “active” license: Notify your present broker to be released. Your present broker can “remove” you from their brokerage firm through the Georgia Real Estate Commission online, unless it is their company policy for you to fill out the Change Application form. To affiliate with Referral Realty and Associates, sign an Independent Contractor Agreement and then we will “add” you online as a licensee to our brokerage firm through the GREC website.

If you are an agent with an “inactive” license: First, check to see that your continuing education credits are current (a requirement of the Georgia Real Estate Commission). Download the Change Application form available from www.grec.state.ga.us, complete it and submit to us. Sign an Independent Contractor Agreement with Referral Realty and Associates. 

If you are a “new” agent: Obtain a “Sponsoring Broker Statement Form” from the Broker of Referral Realty and Associates. Submit the completed form with the Broker’s signature to the AMP test center when you apply for an active license. Sign an Independent Contractor Agreement with Referral Realty and Associates.

No, since you do not actively practice real estate, it is not required.

Yes. It’s a requirement of the Georgia Real Estate Commission. Although you do not actively practice real estate while in a holding company, you still need to maintain an active license to refer transactions and receive compensation.

No, you will receive a 1099 Form to report your earnings to the Internal Revenue Service if you earned in excess of $600 in referral fees in a tax year.

Yes. Parking your license can be temporary or long-term. You can switch back to an active salesperson status at anytime.