Let us help you maintain your real estate license and build a passive income stream.
How It Works
Simply put, with an active real estate license, you are able to receive sales commissions by referring buyers and sellers to Realtors®. Whether you are currently working as an agent and want to move on to something else, perhaps you have worked in real estate for many years and it's time to retire, you are an investor that likes to manage your own personal deals, or you have no interest in participating in real estate sales but would like to create a passive income stream - maintaining an active license will give you the opportunity to achieve your objective.
In order to be paid for referrals you must have an active real estate license. With a current license you can get right to work as soon as Morgan Anderson Referrals activates your license.
If you hold a current, but inactive, Florida real estate license - you simply need to allow Morgan Anderson Referrals to activate your license. If you are delinquent with your continuing education (CE), complete the necessary classes and update the Department of Business and Professional Regulation (DBPR) on your completed CE.
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If you do not hold a real estate license, you will need to complete the pre-licensing course and take the state test. Once you have completed this process, Morgan Anderson Referrals can activate your license.
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Check HERE for additional information on pre-licensing courses or continuing education training.
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How The Number$ Work
Referrals to NextHome®
Typically, a commission of 20-35% is paid for referrals (although the commission rate is negotiable). Morgan Anderson Referrals maintains a mutually beneficial working relationship with NextHome®. When referring Tampa Bay buyers or sellers to NextHome Gulf Coast Realty, a 30% referral commission is paid on the transaction.
As a referral agent, you will receive 30% of the commission received by NextHome Gulf Coast. Let's look at how the numbers will compute on a typical transaction.
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Sale Price of Property $500,000
Sales Commission Rate 3%
Total Commission $15, 000
30% Referral Commission $4,500
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75% Paid to YOU $3,375
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All for making a connection between an experienced and professional Realtor® and your buyer and/or seller.
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What happens if the same person both sells and buys a property with the Realtor® you referred? You get paid a referral commission on BOTH transactions.
NextHome has over 600 offices and over 7,000 Realtor® agents throughout the United States. So there is likely a NextHome® professional where you need them.
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Offices other than NextHome Gulf Coast in Tampa Bay will likely pay a 25% referral commission on closed transactions.
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Why have we aligned with NextHome® and why is it important? First, the broker/owner of Morgan Anderson Referrals, Tony Anderson, is also the broker/owner of NextHome Gulf Coast. As a franchisee since 2016, he has developed relationships with NextHome® professionals throughout the country. NextHome® has a reputation for highly professional, trained and experienced agents. This will result in the highest level of service for your buyer or seller and, hence, a successful closing. Referral commissions are paid only on closed transactions.
What happens if you don't know what Realtor® or brokerage to refer your buyer or seller to in another city or state? Morgan Anderson Referrals will assist you in vetting Realtors® in that market. There are several factors that are important to consider when evaluating the real estate professional you will trust to serve your buyer or seller. It is important to know they will be in good hands so their best interest is being well served.
Referrals to Other Brokerages
If there is not a NextHome® office located in the area your buyer or seller needs assistance, you will refer them to a Realtor® in that location. Again a commission of 20-25% is an industry standard amount paid for referrals (although the commission rate is negotiable).
As a referral agent, you will receive 75% of the referral commission paid by the referred Realtor's® brokerage. Let's look at how the numbers will compute on this type of transaction.
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Sale Price of Property $500,000
Sales Commission Rate 3%
Total Commission $15, 000
25% Referral Commission $3,750
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75% Paid to YOU $2,813
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All for making a connection between an experienced and professional Realtor® and your buyer and/or seller.
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And, of course , if the same person both sells and buys a property with the Realtor® you referred, you get paid a referral commission on BOTH transactions.
What About the
REST OF THE WORLD
Can you refer buyers and sellers to real estate professionals outside the United States? Yes you can! There are no limitations to where in the world you can make referrals. However, you must understand that the real estate business works differently in other countries. If they pay referral commissions in the same way we do in the United States, it works much the same.
If the country where your buyer or seller needs assistance differently, referral commissions may not be customary. There are countries where real estate agents are not compensated with commissions. In those cases you cannot expect referral compensation.
