18 Apr How To Make Income Through a Real Estate Referral Program
You can do just that at Hermann London Real Estate Group. All licensed real estate agents in Missouri must maintain certain criteria in order to keep a license active. However, agents may choose to put their membership with the National, State, and Local associations of Realtors on hold to run a referral-based business.
Real estate agents running a referral-based business will collect a referral fee by providing client opportunities to other actively licensed professionals, thereby earning income. Choosing to run a referral-based business in real estate allows an agent to collect income based on an established client base.
The agent will refer clients to other agents for a fee of 20 percent to 30 percent of the commission upon closing. Referral agents in St. Louis also are not required to be members of the local real estate board or be responsible for some of the dues that active license holders may face.
Agents that are working on a referral base are subjected to the same rules and requirements as any other actively licensed agent when it comes to continuing education requirements for the state in which they are licensed. To find out more information on continuing education please visit http://pr.mo.gov/realestate-ceu-courses.asp.
How to put your license on referral
- Go to http://pr.mo.gov/boards/realestate/419-1997.pdf and print out an “Application for License/Information Change”.
- Schedule a meeting with Adam so we can handle all the necessary paperwork together.
- Fill out the form and mail the completed form to: Missouri Real Estate Commission, 3605 Missouri Boulevard, P.O. Box 1339, Jefferson City, MO 65102.
This will keep your license active, but put it on hold with Hermann London Real Estate Group. Hermann London does not require you to belong to any boards, multiple listing services or other organizations or pay any desk or franchise fees.
Keep up with state training requirements.
- Complete Missouri’s continuing-education requirements for real estate agents.
- Renew your license and pay the fee when due to keep your license valid.
- Notify the commission of any change of address. If real estate officials cannot contact you, they may make your license null and void.
Note: Hermann London Referral Agents is a separate entity from the Hermann London Real Estate Group. We have created two separate companies to distinguish between our Realtors and Licensed Referral agents.