MAKE EXTRA INCOME
NO PRIOR REAL ESTATE EXPERIENCE NEEDED
ATTENTION TO YOU SALES ASSOCIATES, BROKERS AND AGENTS:
IF you have a real estate license, but don’t want to pay MLS dues or Realtor Association Dues? We can help.
ATTENTION EX-BROKERS & EX-REALTORS:
You made a decision to not pay your MLS or Realtor dues, due to personal or other reasons, do not put your license on inactive status.
Vera Realty Referrals, LLC can officially pay you recommendation fees without mandatory membership within your MLS or local Realtor association.
Vera Realty Referrals LLC
Vera Realty Referrals LLC, offers you an exceptional opportunity to earn income in the real estate field by referring clients, through your broker, to licensed Realtors®. It’s that simple.
Whether you’re newly licensed and want to get up the speed setting on your career and you need a place to place your license, there’s income to be made as a referral licensed associates. Getting started is easy, and the paybacks are incredible.
Who can be a referral associate?
- Somebody working full-time in another career who wants to earn referral fees
- Somebody retired from real estate
- Recently licensed associates who aren’t ready to start in sales yet
- Somebody who moved to a new state but wishes to keep their Florida real estate license
- Deployed military employees
- Stay-at-home parents
What are the benefits?
- No Tech Fees
- EARN INCOME
- No Board Dues
- No MLS Fees
- No Supra e-Key Fees
- No E & O Fees
Set to begin earning part of the commissions as a Vera Realty Referral associate?
Signing up is easy!
Simply review the referral associate packet and provide the required documents listed below:
- Acknowledgement Form (Page 7 of Policies and Procedures)
- Limited Buyers Clause
- DBPR Form RE-11
- IRS Form W-9
- $99 yearly fee by check or credit card
- Associate Profile Form
Effective September 1, 2019, Vera Realty Referrals, LLC. places all referrals with cooperating Real Estate Brokers at a 25% referral fee of the applicable side of the transaction. There may be some exceptions where customary referral fees are not the same in specific market areas. Commission percentages to the Broker vary from city to city. Also note that referral fees are negotiable with the other brokers. Therefore, if you are able to negotiate a higher percentage than the typical 25% referral fee with a Broker!
Let Vera Realty Referrals, LLC. know and the documentation will be changed to the negotiated referral fee on the VRR referral agreement.
Once closed, the negotiated referral fee will be payable to Vera Realty Referrals, LLC., and then the Vera Realty Referrals, LLC Associate will receive a percentage of the funds received based on the tiered schedule below:
When a referral is placed within a Vera Realty Referrals, LLC. REALTORS® sales office at a 25% referral fee, the Vera Realty Referrals Associate commission will be paid as follows:
- From the first closed transaction to 5th closed transaction, within the calendar year, the Vera Realty Referrals, LLC Referral Associate will receive 75% of the funds received,
- From the 5th until 9th closed transaction, within the calendar year, the Vera Realty Referrals, LLC Associate will receive 85% of the funds received,
- On the 10th closed transaction and any additional closings, within the calendar year, the Vera Realty Referrals, LLC Referral Associate will receive 95% of the funds received.
For purposes of calculating the commission structure above, the units will revert back to 0 on January 1st of each calendar year.
When a referral is placed with other Brokerage than Vera Realty LLC Broker at a 25% referral fee, the Vera Realty Referrals, LLC will receive 65% of the funds received.
If a referral is placed at a 20% referral fee, the Vera Realty Referrals LLC Referral Associate will receive 50% of the funds received.
Note: The commission percentage, co-broke percentage, and referral fee percentage used in the example below is for example purposes only and may be different based on what is negotiated between the applicable parties.
Example of Referral Fee payout to Vera Realty Referrals, LLC:
- Closing with a Vera Realty Referrals, LLC. sales office
- Purchase Price = $500,000.00
- Referred Side Commission is 3% or $15,000.00
- The referral fee on the referred side commission is 25% or $3750.00
- Vera Realty Referrals, LLC. receives a check for $3750.00
- Vera Realty Referrals, LLC Referral Associate breakdown, based on schedule above:
- 75% or $2812.50 – From 1st to 4th referred and closed transactions
- 85% or $3187.50 – From 5th to 9th referred and closed transactions
- 95% or $3562.50 – From 10th and up referred and closed transactions
Referral fees for rental referrals are typically 10% of the first month’s rent. There may be some exceptions where customary referral fees for rentals are not the same or may not be paid in specific market areas.
The ultimate goal is the long-term relationship with the customer to secure a real estate transaction in the future. The Vera Realty Referrals, LLC Referral Associate will receive 50% of the funds received by Vera Realty Referrals, LLC.
REFER YOURSELF AS A CUSTOMER! All Vera Realty Referrals, LLC Referral Associate’s will receive 80% of the referral fee received by Vera Realty Referrals, LLC. That amount is sometimes 3% if dealing directly with a builder, or, may be the standard 25% referral fee on re-sales (or more if you negotiate a higher referral fee). If the Vera Realty Referrals, LLC Referral Associate chooses to apply the commission towards closing costs on new construction; 80% may be applied to closing costs with the remaining 20% paid to Vera Realty Referrals, LLC.
Payment of Referral Fees:
All fees will be paid upon the closing of a transaction and receipt of the referral fee by Vera Realty Referrals, LLC. The check will be disbursed to Vera Realty Referrals, LLC Referral Associate within a few business days.
A $99.00 administrative fee will be assessed annually on January 1st . If an Associate enrolls after July 1st of the calendar year, the administrative fee will be prorated to $50.00.
Failure to pay the annual administration fee by the end of the first quarter of the calendar year may result in dismissal from Vera Realty Referrals, LLC. The Vera Realty Referrals, LLC Referral Associate will be charged any bank fees on returned checks.