Referral Fee Policies
Referral Fee Structure & Policies:
Real estate agents in the CREN database are required to pay referral fees on any and all buyer or seller referrals referred by the Christian Real Estate Network. This is a standard industry referral fee of 25% of the gross commission before any broker splits.
Possible Referral Fee Conflicts:
Relocation Companies: Contrary to popular belief, there are very few relocation companies that require a person to use a real estate agent that they have pre-selected. Read the contract for more details. If the customer is allowed to choose a real estate agent, but must pay a referral fee to the relo company, we will work with you and the customer to make sure that you are both happy. If this means we have to take a cut in our referral fee to save a transaction, we will. This is handled on a case by case basis, and our desire is to be as flexible as possible. Please call us immediately if this situation arises.
Long Term Referrals: We often get asked about referrals that will not be buying or selling for a period of 1+ years. Many member want to know if a referral fee is still due in these cases. Yes, we will still require a referral fee even on the long term transactions. For these referrals, we will be placing you and the client in a drip incubation period until the client is ready. There is no set time limit for referral fees to expire.
One Customer, Multiple Transactions: Many times, a referral we send may end up conducting multiple transactions with the referred agent over a period of time. In most cases, we only ask for a referral fee on the first transaction, and all subsequent deals after the first year are considered the property of the agent. One exception would be if the client specifically requested from us to help them sell and buy property in the same area. In that case, we would ask for a referral fee on both transactions no matter what the time frame.