Texas Agent FAQs
Yes. Park and Refer Inc. is a fully licensed real estate broker with TREC, license #9000550. Whether you’ve had your license for 40 years, or brand new to real estate, becoming a Referral Agent is the perfect inexpensive solution to keeping your valuable license active.
NO! You’ll easily save thousands per year on these fees. You won’t be a member of any board of realtors, MLS service, or have to pay monthly office fees or E&O Insurance. And since we’re a virtual office, there are no meetings, sales quotas, or obligations.
Our low membership fee is only $75 for 6 months, $125 for 1 year, or $195 for 2 years, and as an incentive, you’ll receive a FREE 1 year membership renewal with just 1 successful paid referral. Yes I know, Parking your license is sounding pretty good!
The sky is the limit and you’re in control of your income stream. A 25% referral of a $300k purchase or listing will put $1,925 in your pocket with almost NO EFFORT. You can even refer a client, or yourself to a new home builder and earn the 3% builder co-op, which on a $300,000 home is $9,000! Our average referral payout is $2,000, and our largest referral payout so far is $20,133.75! Think of all the potential leads with your family, friends, co-workers, past clients, neighbors, church, school, and trade organizations. Best of all you can refer yourself on your own transactions, money in the bank! Being a Referral Agent gives you the best part time job ever.
Once Park and Refer receives the commission from your referral closing, we’ll mail, instant transfer with Zelle app, or even e-mail your funds, your choice. At year end you’ll receive a 1099 to report your earnings, no taxes will be deducted.
No problem depending on the length of time. It’s easy to reinstate or renew with the TREC’s e-licensing system. Call us if you’re unsure and we can double check for you, 888-470-0641.
As of 1/1/2020, there is NO charge from TREC to transfer your license…yay!
No, but you may refer yourself and earn a commission. This is a huge benefit to keeping your valuable license active! In many cases, our agents have negotiated a 60% referral or more on their own purchase or sale. Of course the “FSBO” option is available to you as well if you are listing your home. A big exception is the “New Build Property” FAQ below.
Park and Refer is designed as an extremely low cost referral-based brokerage. Agents may only refer their leads and earn commission. Listing property or representation of buyers is not possible. A big exception is the “New Build Property” FAQ below.
Yes, you must keep your license in active status with TREC. For your convenience, we’ll send you renewal date reminders. According to TREC rules and regulations, you must complete continuing ed. over your 2 year license cycle. For a list of requirements and classes you can take, click our TREC CE HUB. This will save you a ton of time and money. Click on our current CE PROMO CODE for a great discount on your classes
Yes, Park and Refer is a completely independent brokerage. You may choose any licensed agent anywhere, local or out of state, to work your referral, you aren’t limited by geography. And don’t worry about your out of state leads if you don’t know any good agents, we have the resources and experience to help you find the perfect agent for your client’s needs. You can refer residential, commercial, new construction, and even land deals.
We have the most competitive split of all Refe
We have the most competitive split of all Referral Agent brokers in Texas. Our fee on closed referrals ranges from 9% to 25% and designed to put more in your pocket. Here are some examples…
- Your check coming in is $1,300 or less-we charge 25%. i.e. $1,000 commish, $250 fee=25%
- Your check coming in is $1,300-$3,600-we charge a flat $325. i.e. $2,700 commish, $325 fee=12%
- Your check coming in is $3,600 or more-we charge 9%. i.e $7,000 commish, $630 fee=9%
Most referral agent brokers will charge you a flat 20%-40%, but our fee structure is designed so that an average referral falls in the 12% range, with larger referrals just 9%. And don’t forget you’ll earn a FREE 1 year renewal with just 1 paid referral!
In this specific referral situation, you’ll refer any customer or yourself to purchase a new build property whereby you’ll sign the “builder referral commission agreement”. Typically a builder offers a 3% referral commission on the sales price, minus upgrades. At closing you’ll earn 88% of the total referral commission paid by the builder. Example…$10,000 referral commission earned = $1,200 admin fee, and YOU’LL KEEP $8,800!