What is a Referral Agent?
Many have asked what is the meaning of the term referral agent or referral-only agent. At Success Partners Real Estate, we created a referral agent brokerage for the licensee who may be starting their career, the licensee who may be focused on a different career, or in some cases, the licensee who is winding down after a long and successful career.
Why would a successful real estate agent consider becoming a referral agent?
After many years in the business, the successful agent builds a network of clients and associates that call on her or him regularly to list, sell and advise on all matters involving real estate. Rather than leaving that business behind and allowing valued clients to fend for themselves, our referral agent program allows an agent to continue to advise her clients, directing them to a trusted resource and continuing relationships built over many years. This also creates a revenue source for the “semi-retired” agent who earns a referral fee on all closed business.
Success Partners Real Estate (SPRE) is specifically designed for such an agent. Since referral agents duties are different from an actively practicing real estate – tending to contracts and showings – they needn’t have the same costly overhead as a full time practicing agent. As such, there are no NAR dues, no HAR dues, no Board of Realtor dues, no MLS fees and no E&O fees for the SPRE referral agent to pay. The only overhead that a referral agent must consider are the costs to maintain an active Hawaii real estate license: license renewal and continuing education requirements every two years.
Success Partners offers two business models: one to the general public and one exclusive to Elite agents. To the public, SPRE offers a program that pays agents 100% of the referral fees they earn in exchange for a $54 per month fee. This fee, $648 annually, is easily covered by the first referral closed each year and can generate a sizable first or second income for a productive referral agent. All referrals are placed with the SPRE referral coordinator and assigned to an Elite agent in Hawaii or to a trusted referral partner outside of Hawaii.
To learn more about Success Partners Real Estate, contact us today.