• Referral Agent Group
  • Referral Agent Group
  • Referral Agent Group

Frequently Asked Questions

We have put together a list of the most common questions we receive about Referral Agent Group and referral agents. If you cannot find the answer to your question below, please call or email us.

 

Q.   Is Referral Agent Group a “real” brokerage?

Q.   What is a Referral Only Brokerage/Agent?

Q.   What are the benefits of being a Referral Only Agent?

Q.   Are there any other benefits?

Q.   Who works the referrals sent in by your agents?

Q.   Isn’t it illegal to pay referral fees?

Q.   Can you explain how the 20% referral fee works?

Q.   Can I list houses?

Q.   Can I act as a Buyer’s Agent?

Q.   I’m buying a home. Can I act as my own buyer’s agent and collect the commission?

Q.   I’m going to sell my home. Can I act as my own listing agent?

Q.   Can I print business cards?

 

Q. Is Referral Agent Group a “real” brokerage?
A. Referral Agent Group is licensed by the New Jersey Real Estate Commission and holds a New Jersey Real Estate Broker’s License. Like any other brokerage in the state, Referral Agent Group can sponsor licensees and can receive and pay commissions.
 
Q. What is a Referral Only Brokerage/Agent?
A. Referral Agent Group is a Referral Only Brokerage. Our agents do not provide brokerage services; they are simply paid for their referrals. Since referral only agents do not provide brokerage services, they do not have to pay any of the usual costs associated with being a traditional agent.
 
Q. What are the benefits of being a Referral Only Agent?
A. You can generate a stream of income by staying aware of the real estate needs of your friends, family, neighbors and others with whom you associate. When someone mentions the need to buy or sell a home, you simply refer them to a REALTOR® who can assist them.
 
Q. Are there any other benefits?
A. You bet! Should your personal circumstances change, it would be just a matter of paperwork, paying of association fees, MLS dues, and keycard rental, to easily begin working as a REALTOR® listing and selling homes.
 
Q. Who works the referrals sent in by your agents?
A. Referral Agent Group is a Limited Function Referral Only brokerage and does not provide any brokerage services. All referrals are sent out to other real estate companies that provide brokerage services. When the transaction closes, the other company pays us a referral fee.
 
Q. Isn’t it illegal to pay referral fees?
A. It is against New Jersey law to pay a commission or fee to an unlicensed person. Since the New Jersey Real Estate Commission licenses our agents, the agents can receive commissions from their sponsoring broker. Referrals and referral fees are very common in the real estate industry.
 
Q. Can you explain how the 20% referral fee works?
A. A $200,000 sale results in a $6,000 commission. The referral agent will receive a $1,200 referral fee. $1,200 is 20% of the gross commission.
 
Q. Can I list houses?
A. As a Limited Function Referral Only Agent you cannot provide any brokerage services. If you want to transfer to REALTOR® status, you can easily transfer to a traditional brokerage. Note that you will be required to pay local, state, and national association dues, MLS fees, E&O Insurance and so on.
 
Q. Can I act as a Buyer’s Agent?
A. As a Limited Function Referral Only Agent you cannot provide any brokerage services. If you want to transfer to REALTOR® status, you can easily transfer to a traditional brokerage. Note that you will be required to pay local, state, and national association dues, MLS fees, E&O Insurance and so on.
 
Q. I’m buying a home. Can I act as my own buyer’s agent and collect the commission?
A. While you cannot serve as your own agent and collect a commission, we can refer you to a traditional REALTOR® and pay you a referral fee.
 
Q. I’m going to sell my home. Can I act as my own listing agent?
A. You cannot serve as your own listing agent. We can refer to a traditional REALTOR® and pay you a referral fee.
 
Q. Can I print business cards?
A. We offer a standard business card for our agents at very affordable rates. Contact us for details.