FAQ's
I HAVE A FLORIDA REAL ESTATE LICENSE, WILL SELECT REFERRAL PARTNERS LLC WORK FOR ME?
Yes. Select Referral Partners LLC is a fully licensed real estate broker with DBPR, license #CQ1062959. Whether you’ve had your license for 30 years, or brand new to real estate, becoming a Referral Agent is the perfect inexpensive solution to keeping your valuable license active and earning money for you.
ARE THERE ANY TYPICAL REALTOR FEES ASSOCIATED WITH JOINING?
NO! You’ll easily save thousands per year on these fees. You won’t be a member of any board of realtors, MLS service, or have to pay monthly office fees or E&O Insurance. There are no membership fees, meetings, sales quotas, or obligations.
HOW MUCH CAN I EARN?
The sky is the limit and you’re in control of your income stream. A 25% referral of a $400k purchase or listing will put $2,250 in your pocket with almost NO EFFORT. You can even refer a client, or yourself to a new home builder and earn the 3% builder co-op. Think of all the potential leads with your family, friends, co-workers, past clients, neighbors, church, school, and trade organizations. Best of all you can refer yourself on your own transactions, money in the bank! Being a Referral Agent gives you the best part time job ever.
HOW DO I GET PAID?
Once Select Referral Partners receives the commission from your referral closing, we’ll mail you a check or instant transfer with Zelle app….your choice. At year end you’ll receive a 1099 to report your earnings, no taxes will be deducted.
WHAT IF MY LICENSE IS INACTIVE OR EXPIRED?
Depending on the length of time, this likely not a problem. It’s easy to reinstate or renew with the Florida DBPR e-licensing system. Call us if you’re unsure and we can double check for you, 941-451-7746.
CAN I ACT AS THE AGENT ON MY OWN PERSONAL REAL ESTATE TRANSACTION?
No, but you may refer yourself and earn a commission. This is a huge benefit to keeping your valuable license active! In many cases, our agents have negotiated a 50-60% referral or more on their own purchase or sale.
CAN I HAVE A FULL TIME JOB IN A DIFFERENT PROFESSION?
Of course! Select Referral Partners LLC was created for people just like you who have chosen not to pursue real estate as a full-time career, who are changing their occupation, or are retiring from full-time work as a real estate agent. As a referral associate, you can still generate referrals through personal and business networking channels even with a different full-time job.
CAN I LIST PROPERTIES OR REPRESENT BUYERS?
No, Select Referral Partners is designed as an extremely low cost referral-based brokerage. Agents may only refer their leads and earn commission. Listing property or representation of buyers is not possible.
DO I HAVE TO STAY ACTIVE WITH DBPR AND COMPLETE CONTINUING ED REQUIREMENTS?
Yes, you must keep your license in active status with DBPR. According to DBPR rules and regulations, you must complete continuing ed. over your 2 year license cycle. For a list of requirements and classes log into your account at www.myfloridalicense.com.
CAN I CHOOSE THE AGENT THAT WORKS MY REFERRAL?
Yes, Select Referral Partners is a completely independent brokerage. You may choose any licensed agent anywhere, local or out of state, to work your referral, you aren’t limited by geography. And don’t worry about your out of state leads if you don’t know any good agents, we have the resources and experience to help you find the perfect agent for your client’s needs. You can refer residential, commercial, new construction, and even land deals.
WHAT IS THE COMMISSION SPLIT FROM MY PAID REFERRAL?
Select Referral Partners will charge a referral commission, for the referral of any client, to the receiving agent/brokerage. The typical referral compensation received is 25-35% of the gross transaction commission but may be negotiated higher or lower. You will be paid 75% of the gross referral commission received!
NEW BUILD PROPERTY REFERRAL
In this specific referral situation, you’ll refer any customer or yourself to purchase a new build property whereby you’ll sign the “builder referral commission agreement”. Typically a builder offers a 3% referral commission on the sales price, minus upgrades. At closing you’ll keep 85% of the total commission paid by the builder!
WHAT ARE MY START UP COSTS?
$0, Zero, Nada, Nothing. Your current Florida license is all that is needed. Unlike most of our competitors, Select Referral Partners LLC does not charge any company membership fees.
HOW DO I PLACE A REFERRAL?
To place a referral, simply fill out and email us the Referral Form provided in your sign up packet, or call us, 941-451-7746 and we’ll take care of the rest!
HOW DO I PLACE MY LICENSE WITH SELECT REFERRAL PARTNERS?
Simply click the “SIGN ME UP” button below and input your info, and then we’ll respond with an email containing all of the documents required to transfer your license to Select Referral Partners LLC.