Why should I join Referral Group Inc.?
What if I let my license expire?
Why should I keep my license active?
How do I activate my license if it is now with the state?
How do I make referrals and earn commissions?
How much can I earn as a referral agent?
What portion of the commission do I receive?
How much will it cost to join Referral Group Inc.?
How much does it cost to keep my license active with you?
What happens to my license if I move?
Can I make referrals anywhere?
Where do I find referral leads?
What information do I need to place a referral?
My Salesperson license was not renewed at the last license renewal and is currently being held at the state. Can I reinstate my unrenewed license and change my license type to Salesperson (Referral)?
I renewed my license and have not received a pocket card. Will I receive one?
Why should I join Referral Group Inc.?
We offer an alternative to NJ licensees who want to continue to earn commissions but do not want to work directly with buyers and sellers. In other words, they do not actually list or sell properties. If you want to work directly with buyers and sellers then we are not the right broker for you. We offer you an opportunity to earn commissions on a referral basis only.
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What if I let my license expire?
The state will hold your license for two years from the expiration date on the license. To maintain your license you must reinstate it during this two year period. If you do not reinstate it during this time, your license will be invalid and you will need to retake a prelicensing course and the state licensing exam all over again!
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Why should I keep my license active?
When you place your license with the state you are inactive and you cannot earn any commissions. The state requires that your license be placed with a broker(active) in order to earn commissions. By joining Referral Group Inc., we become your broker and you can legally earn commissions on a referral basis.
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How do I activate my license if it is now with the state?
It is quite simple. If you decide to join us, we notify the state who will release your license upon receipt of the required fees and reinstatement forms. We have the necessary forms for you to complete this process.
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How do I make referrals and earn commissions?
You earn commissions by placing qualified buyer/seller leads with full service brokers. The referral process is simple.
- Contact a realtor of your choice.
- Negotiate a referral commission.
- Complete a Referral Form and have signed by all parties.
- Fax or email a copy of the completed Referral Form to us.
The salesperson with whom you make the referral handles all matters relative to the listing or sale of the referred property or buyer. If you require any assistance during any of the referral process, please call us.
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How much can I earn as a referral agent?
Your income potential is unlimited when you join Referral Group Inc.
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What portion of the commission do I receive?
After a referral has been placed, the transaction has successfully closed, and the agreed upon referral fee (usually 20%-30%) is received by us, you receive 80% of whatever we receive from this closed transaction. In other words, we have an 80/20 commission split. The commission split is 90/10 for your personal primary residence.
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How much will it cost to join Referral Group Inc.?
The cost to join is our annual membership fee of $100. The only other costs are the state license fees depending on the current status of your license. (See Real Estate Licensee Info.)
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How much does it cost to keep my license active with you?
The only other cost in addition to the $100 annual RGI membership fee is the state license renewal fee that is due every two years. The current cost for a 2-year renewal is $100 for a Salesperson license, and $200 for a Broker license.
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What happens to my license if I move?
You can move anywhere in or out of state and still keep your license active with us. Whether you live in New Jersey or out-of-state, you can still use your license to earn referral commissions.
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Can I make referrals anywhere?
You can make referrals anywhere, not just in your immediate market area.
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Where do I find referral leads?
They can come from anywhere! Anyone who has a real estate need is a prospective referral and they are found through networking. There is no limit to the possibilities of networking through family, friends, neighbors, church, trade organizations, school organizations, your local businesses such as dry cleaners, supermarket, the gym...anywhere!
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What information do I need to place a referral?
We have a referral placement form available for you to use when placing a referral. All of the necessary information to place the referral is on the form.
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My Salesperson license was not renewed at the last license renewal and is currently being held at the state. Can I reinstate my unrenewed license and change my license type to Salesperson (Referral)?
Yes. You may submit a Referral Agent Application for Reinstatement and Change of License Type form (available under Forms). The state fee for reinstatement is $150.
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I renewed my license and have not received a pocket card. Will I receive one?
The state is not issuing paper licenses and pocket cards at this time. You are able to obtain a printout of your current license status by going to the Real Estate Commission website; state.nj.us/dobi. Click on Licensee Search; Click on Real Estate; Type your last name only and click Search. When you locate your name, click on Actively Licensed to get a printable card.
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