Why would I want to “park” my real estate license?
You went to the time, expense, and effort of gaining your real estate broker license, so why wouldn’t you want to able to earn money from it?
Perhaps you’re retiring, taking a few years off to travel the world, or your family needs your complete focus right now. Maybe you still have a full-time job that you’re not ready to leave but you still have plenty of connections that could lead to closed transactions. While you might not have the ability to devote time to the activities of running your real estate business, you certainly can put your license to use and earn referral fees.
How does Elite Realty Referrals work?
Elite Realty Referrals allows real estate brokers licensed in the state of Washington to “hang” their real estate license with us without the required memberships typically associated with a traditional brokerage. You pay us a nominal annual fee, maintain your real estate license in good standing with the state, and you earn a referral fee on transactions you refer to us.
Do I have to be licensed in Washington state to sign-up?
Yes. Although we may add additional states in the future, our current focus is on helping licensed Washington State brokers. As long as you hold a Washington state license, you can collect referral fees for transactions referred outside of Washington state.
Do I have to maintain my Washington real estate broker license after I’m with Elite Realty Referrals?
Yes, you do. While you may not be handling the actual transactions, you are still engaging in activity that requires a license. If you have questions on how to maintain your license, please reach out!
What if my license is expired or inactive?
Depending on how long your license has been expired, you may still be able to renew it easily. Either check with the Department of Licensing, or we can help you figure it out. If your license has not expired but is simply inactive, it’s super easy to associate your license with us.
What fees do I have to pay to hang my license with Elite Realty Referrals?
The beauty of hanging your license with Elite Realty Referrals is that you only pay us a small $100 annual fee and a 10-30% referral fee only when you receive a referral commission. No HIDDEN fees – No Transaction fee, E&O fee, Franchise fee, Technology fee, etc.
How much can I earn?
There is no cap! As long as you continue to refer clients to us that close on their transactions, you can keep earning.
What commission split do I get with Elite Realty Referrals?
You’ll receive 70 – 90% of the referral commission you earn.
How do I get paid?
Just like if you were working as a traditional broker, you get paid your referral fee either via check or direct deposit and then we send your 1099 for tax purposes after the close of the year.
Can I choose which agent works my referral?
Absolutely. If you need assistance choosing who is the best fit for a particular transaction or client, we can help select one with you.