Frequently Asked Questions

ANSWERS:

1. What types of properties can I refer?

A: Any type of marketable real estate anywhere in the United States, Canada and Puerto Rico. Referral fees are rarely paid on rentals and fees paid on commercial and industrial transactions may vary and shall be set by RNI.

2. Can I be actively involved in the referral after assignment?

A: We encourage you to be very actively involved with any referral that we place. You will be given the assigned agent’s name and contact information on your referral confirmation. We also encourage you to follow up with your customer to make certain that they feel they are getting the service that they deserve.

3. Can I request the sales associate that I want to work with my customer?

A: We will make every attempt at honoring your request for a particular associate; however, the final broker placement is at the discretion of Referral Network. We want to make certain that your customers get the best service and that the assigned broker agrees to pay our fee.

4. How much can I earn as an active member with Referral Network?

A: That depends on many factors that include how many referrals that you send, the sales price, and the referral fee that we are able to negotiate. (Please see examples of fee splits)

5. Do my referrals always go to Coldwell Banker offices?

A: We strive to place all referrals with a trained and qualified associate. If we have a Coldwell Banker office or another broker that is in our “network” of brokers, that will be our first choice.

6. Should I call an agent or broker and assign my own referral?

A: No. Contact Referral Network and we will make the contact for you. This way we can avoid any miscommunication that could cause you to receive a lesser referral fee. We will protect your referral by obtaining a confirmation signature from the assigned broker.

7. Do I have to keep “office hours”?

A: Absolutely not. You will determine your own work schedule. You will get to mix business with pleasure by talking to relatives, friends and even acquaintances. You can work while you are on vacation, traveling or attending any social events. Have you business cards ready to hand out.

8. Can I aggressively farm a neighborhood or contact expired listings?

A: You must be careful when you are soliciting business that you do not imply that you are actively listing or selling homes. Remember that you must also adhere to the State and Federal “Do Not Call” laws, unsolicited fax and e-mail laws, and all consumer protection laws. Give us a call to discuss any marketing plans that you may have. We are always here to help.

9. How do I generate referrals?

A: The most effective marketing tool is something with your name and contact information. We suggest business cards. Give them to all family members, friends and acquaintances with whom you socialize. Another effective activity is “networking”. Become active in community and professional groups that encourage professional interaction.

10. What do I say to a potential buyer or seller?

A: Once you find out they need real estate assistance, tell them that you are a “Referral Associate” and you are affiliated with a company that can assign a trained and experienced associate to assist them. All you need from them is their name, address, phone numbers and best time to call. Most importantly, however, is their permission to refer them.

Don’t forget that you may have an opportunity for two referrals from just one customer. If they are asking to be referred as a buyer, don’t forget to ask if they have a home to sell. Just tell us when you call.