If you have a client who would like to sell or purchase property,
and you are unable to handle the transaction, you may refer your client
to another REeBroker Group agent.
When you refer your client to a real estate agent outside of the
REeBroker Group there is a 10% fee charged by the brokerage. However,
when you refer your client to another real estate agent within the REeBroker Group
there will be no referral fee charged to you. You will get the entire referral fee.
Please see the following link and selected the Referral on the dropdown for more details on how to process your referral on the REeBroker Group system.
The REeBroker Group agents may receive a referral fee or compensation
from another broker. The REeBroker Group charges 10% ($75 minimum) of the
fee for this activity.
For an example, you are referring your friend who wants to buy a house in NY
to a broker doing business there. That broker agrees to pay a $1000 referral fee.
REeBroker Group keeps 10% ($100) and you earn $900.
What does LFRO mean? Limited Function Referral Office Policy
Do I have to pay NAR, CAR, and Local AOR dues? No.
Will I have access to the MLS? No.
What does the Policy mean? The licenses must be
held by an entity separate from the REALTOR®'s brokerage firm.
Licenses will be held by referral firm REeBroker. All referrals
must be made to the REALTOR®'s brokerage firm on a substantially
exclusive basis. Referrals must be given to an agent within the
REALTOR® brokerage firm Real Estate eBroker, Inc (DBA REeBroker Group).
No fees will be taken by the broker for these referrals.
For more information see here:
National Association of REALTORS® LFRO Policy
The licensees may not be engaged to any degree in listing, selling,
leasing, renting, managing, counseling, or appraising real property.
The designated broker will be required to annually identify all
licensees in the referral firm to the REALTOR® Association Board.
The designated broker is required to report any licensees status
change within three (3) days.
Note: The exemption for a referral licensee is automatically revoked
upon the individual engaging in activities requiring a real estate
license other than making referrals. Upon revocation of LFRO status,
the licensee will be placed under the REALTOR® firm and all
associated dues will be the licensee’s responsibility.