What is a Referral Agent?

What is a Referral Agent?

2018-08-03T01:44:34-04:00

A Referral Agent is a person who has passed the 75-hour pre-licensing class and passed all the requirements to become a real estate salesperson. However, they have chosen not to become engaged in actively selling, listing or renting real estate. Instead, they choose to belong to a broker’s referral pool. They incur few of the fees that salespersons and brokers must pay. When they know of a person who wants to buy, sell, or rent real estate, they refer the prospective client to their broker, and he or she assigns the lead to a licensee in his or her agency. The referral agent cannot in any way be involved with sales presentations, submitting required documentation, sitting open houses, etc. But when the sale ir lease is completed by the licensee who received the referral, the referral agent receives a referral fee from the broker. Referral agents are not required to undertake any CE credits. However, if they later decide to become actively involved in the sale, rental, or listing of real estate, they will have to bring their CE credits up to date