When people call Garden State Real Estate Academy inquiring about becoming a real estate agent and getting a New Jersey real estate license, they often want to hold onto their current job for a while before jumping into a new real estate career full-time.
Here’s one way to do that.
Becoming a Referral Agent.
A referral agent is a person who has completed all the requirements of earning a New Jersey real estate license, but who sits on the sidelines instead of being actively involved in selling.
When a real estate referral agent gets a lead for somebody who wants to buy, sell, or lease real estate, the agent calls his or her broker and gives the broker the details of the lead. The broker then assigns the lead to an active agent, and usually, the broker will be open to the referral agent’s suggestion if they have a friend to whom they would like to handle the client.
The broker then assigns the client to the fully-licensed “active” agent and the referral agent does nothing.
In fact, it is illegal for the referral agent to take any active part in the transaction. So no sitting open houses, or showing properties, or giving advice when offers are being presented. The active agent does all the work.
When the transaction is complete, the broker then deducts a percentage of the active agent’s commission and pays it to the referral agent. Commissions are always negotiable, but it typically is around 25% of the active agent’s commission.
Assume a referral agent tells her broker her sister wants to sell her home. The broker assigns it to Joe, and Joe lists the house at a 5% commission. If Joe is on a 70% commission split and he sells the house for $400,000, the referral agent would make $1,750—simply for making a phone call to her broker with the referral!
Not a bad hourly rate of pay!
Another benefit to being a referral agent is that the $2,000-$3,000 annual cost of paying errors & omissions insurance, MLS dues, Board of Realtors fees, etc are waived, as is the biennial requirement to take the 12 hours of continuing education prior to license renewal
You can always move back & forth from being a referral agent to being an active salesperson and vice versa.
It all starts with real estate school!
To start your journey, you need a New Jersey real estate school’s 75-hour salesperson pre-licensing education course. Garden State Real Estate Academy is by far the top-ranked real estate school in the entire state.
Garden State Real Estate Academy offers:
- Full-time day classes run all day every weekday for two weeks. This is the fastest way to complete your 75-hour required course.
- For those who want a little more relaxed pace, our part-time day course operates Monday, Wednesday, and Friday during the day for three weeks. So you always have at least one full day between classes to study.
- Our evening class is perfect for those who have work or family obligations during the day. It operates Monday, Wednesday, and Thursday evenings for 5-6 weeks.
Once you have graduated from the 75-hour course, we certify you to the state and you then take and pass the state exam, and have your fingerprints taken as part of your criminal history background check.
Then you join real estate brokers, and the broker activates your shiny new New Jersey real estate license!
So the fastest way to become a New Jersey real estate agent is to sign up for our full-time pre-licensing day course at www.GSREA.com, and if you passed your state exam right after graduating, and got your fingerprints done right away also, you could be selling real estate in less than a month after you started real estate school!
Garden State Real Estate Academy became the best real estate school by teaching people how to get their real estate license.
Become a Successful Real Estate Agent at Garden State Real Estate Academy
If you are thinking of getting your real estate license—be it as a salesperson or a real estate broker, Garden State Real Estate Academy is the state’s top-rated real estate school. If you need a New Jersey real estate license, you can choose from daytime or evening classes at www.GSREA.com and click on “Salesperson” licensing classes.
Learn More about our real estate courses
For information on the real estate school’s upcoming New Jersey licensing classes, click here: https://www.gsreacademy.com/pre-licensing-courses/