Referral Agents

Let's say you get your real estate license, but for some reason you do not wish to become active in actually listing and selling. A fairly new business model has emerged that incorporates what has always been possible but sometimes difficult to arrange in traditional brokerages—simply refer your leads to an office for a referral fee. Referral Associates of New Jersey, an affiliate company of The Prudential New Jersey Properties (twenty-seven offices in eleven New Jersey counties) has emerged as a leader in this activity. They conduct an aggressive recruiting campaign to sign on new licensees or those who are active but desire a change of pace. They have been very successful in their efforts and have a large and impressive array of referral agents. The advantage to the licensee is that they do not need to belong to any professional organizations and do not need to pay multiple listing and associated fees. If there are state continuing education requirements for license renewal, they must satisfy them; but basically, they merely refer leads. When they result in a closed transaction, they collect a fee. I predict that you will be seeing more of these operations come into existence in the future.

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