I HAVE A FLORIDA REAL ESTATE LICENSE, WILL BECOMING A REFERRAL AGENT WORK FOR ME?
Yes. We are a licensed, independent real estate broker in the state of Florida, license # CQ1031722. Whether you’ve had your license for many years, or are a newly licensed agent, becoming a Referral Agent is an inexpensive solution to keeping your valuable license active and becoming gradually acclimated and in-tune with the real estate industry while you wind down or transition from another career or endeavor. In addition, since some agents may aspire to become a real estate broker or open their own brokerage one day, they should be aware that agents must have maintained an ACTIVE real estate license for at least TWO CONSECUTIVE YEARS of the preceding five years before being qualified by the state of Florida, therefore, the clock cannot begin until a real estate license is ACTIVE. This is something many new agents do not consider.
HOW DO I PLACE A REFERRAL AND KEEP TRACK OF IT?
To send a referral, simply email or call us. We will provide you with the referral agreement. Once we have a buy or sell agreement in place with your client, you will receive a referral information link or portal that will keep you updated of the referral status.
MAY I CHOOSE THE AGENT THAT WORKS MY REFERRAL?
When you refer a buyer, seller, or renter to us, you can be rest assured that the clients you refer to us will be in great hands with one of our agents. You may request or specify that they have a certain designation, specialty or level of experience. You will be kept informed of both the match and progress of the transaction. We have the experience and the resources to meet your client’s needs.
CAN I LIST PROPERTIES OR REPRESENT BUYERS?
Since referral agents have not opted for the MLS and other resources or have the requisite field training in place, they may only refer their business and earn a referral fee. Listing property for sellers or representing of buyers in a purchase as a referral agent is prohibited. However, you may opt to change the status to that of a buyer or seller agent by completing the necessary agent application, paying all licensing fees, and completing the required 12-week agent training if you opt to become a buyer or seller agent with our firm. The requirements to become a buyer or seller agent, along with the training schedule, can be provided to you upon request. Our success is dependent upon the success of our agents.
Once you make a referral to us as a referral agent, please be aware that the agreement and payment structure for that agreement remains in place throughout and until the completion of the transaction for that client.
You can refer commercial, residential, new construction, and even land deals.
CAN I ACT AS THE AGENT ON MY OWN PERSONAL REAL ESTATE TRANSACTION?
You may sell your own home. Owners do not need a real estate license or agent to sell their own homes, but there are time- and cost savings and other benefits to sellers using an agent when doing so. Those benefits include wide exposure to the home on the market, screening buyers, showing the home, and negotiating and navigating the sale on your behalf. If you decide to enlist us as your seller agent, you will receive a discount on the commission we charge to our clients in the ordinary course of business, so as the seller you would not receive a referral fee.
On the other hand, buyers generally need a real estate agent to handle the sale of real property. As with sellers, there are time- and cost savings and other benefits to buyers using an agent when doing so. Since we are negotiation experts, those benefits might including negotiating a reduction of the purchase price, concessions from the seller, or purchase incentives for you as buyer! If you purchase real estate and decide to use us as a buyer agent, you will receive a referral fee equal to 25% of the broker’s commission—as long as you have a referral agreement in place with us before we begin working with you as a client. This includes working with you on the build of a new home.
WHAT IS THE REFERRAL INCOME FROM MY PAID REFERRAL?
We have one the most competitive splits of all brokers in Florida. Our commission on closed business for our agents range from 60% to 80%, depending on experience, business volume, and reviews. The agent handling your client’s transaction will receive his or her full commission split and you, as the referring agent, will receive 25% of the broker’s split.
For new construction referral business, you will receive 100% of the agent commission from the builder, including any bonuses or other incentives, minus a $1595 broker fee to cover our handling of your client’s paperwork, inquiries, progress reports, walk-throughs, broker’s errors and omission insurance, and recordkeeping requirements.
HOW DO I GET PAID THE REFERRAL FEES?
All of our agents are paid same day once the transactions closes. You can opt to receive your referral fee either by check, which is sent same day via trackable method, or via wire. No taxes are deducted from commissions or referral fees so agents are responsible for proper reporting to the Internal Revenue Service. Agents receive form 1099 to report earnings by year end deadlines for reporting purposes.
HOW MUCH CAN I EARN?
There are no caps or limits; we provide referral fees for every referral. We will even provide you with regular referral strategies throughout the year to maximize your reach and potential income.
WHAT BENEFITS DO YOU OFFER TO REFERRAL AGENTS?
Once you become a referral agent, we offer the following benefits to our agents:
- 250 professional branded business cards
- Monthly newsletter chock full of real estate training and industry information
- Access to quarterly classes and resources on financial and tax planning
- Same day payout for referral fees
- Dedicated continuing education portal
- Facebook group for referral agents (2023)
Our goal is to make referring us not only easy but enjoyable as well as beneficial to your income and professional goals!
WHAT ARE THE FEES FOR JOINING?
Referral agents save thousands per year on fees because, unlike buyer or seller agents, you will not be a member of any licensing board, MLS or showing service, nor will you be under any obligation to pay monthly office or desk fees or Errors & Omissions insurance. We are a virtual office, so there are no meetings to attend or sales quotas to maintain.
Our low annual administrative fee is $125 and you will receive an automatic invoice each year, which you can pay online. There are no other fees.
AS A REFERRAL AGENT, DO I HAVE TO STAY ACTIVE AND COMPLETE CONTINUING EDUCATION REQUIREMENTS?
Yes, you must keep your license in active status with the DBPR. It is your responsibility to remain mindful and prepared for your renewal dates. According to DBPR rules and regulations, you must complete continuing education over your two-year license cycle. For a list of requirements and classes you can take, click the link to our Continuing Education partner, the CE shop: https://dreamteamre.theceshop.com/ and be sure to click the link to our current CE promo code to receive a discount on your classes.
WHAT IF MY LICENSE IS INACTIVE OR EXPIRED?
Depending on the length of time it has been expired and the status of any continuing education requirements, you may be able to have it be reinstated. We would be happy to check the status for you and either help you navigate reinstatement or get the license activated as one of our referral agents. Just email us or call us at (407) 603-5587.
HOW DO I ACTIVATE MY REFERRAL AGENT LICENSE WITH DREAM TEAM REAL ESTATE?
Simply go to the “Contact Us” section. Input your name and contact information. We will send all of the documents required for your review and electronic signature, including the: Independent Contractor Agreement, Business Card Order form, policy manual, continuing education portal link, form W-9 and the invoice to pay your annual membership fee. It’s that easy!