One of the most amazing things about a career in real estate is that there are a multitude of ways to form your business model. At the core of them all, usually is hard work and interaction with a large sphere of people. For any number of reasons, life can get in the way of a busy career of any real estate agent. I find people have spouses who change jobs, child care issues, health concerns, personal reasons, retirement, or simple preference to sometimes back away from real estate as a full time job.
Smart professionals do not like to sever ties and lose hard earned fees and educational investments. I have an option that accommodates many of these situations. Capital Referral Associates is a referral brokerage, in which agents can hang their license when life changes, but they are not ready to hang up on the career they have built. The referral company does not require agents to belong to a Realtor board or to any MLS. Referral agents are not able to write contracts at this brokerage or take listings. They are able to make contacts and refer business to the company, where it is handled by a RE/MAX Capital agent on a referral basis.
Upon closing REMAX Capital will pay a referral fee to Capital Referral Associates, which will then pay the agent a large portion of the referral amount. This preserves a stream of income for the agent who no longer has the time to work a deal from start to finish, or is not in the area to do so.
It also works for an aspiring agent who wants to get started in the business. By placing the license into referral, the agent can get all elements of his/her business plan in order without the pressure of paying dues to the MLS or joining the local Realtor board. Leads can still be harvested and worked through the referral status and when the agent is ready it is simple to move the license from referral over to full active Realtor status at RE/MAX Capital.
Retiring agents who have built a book of business over the decades have gone into referral with us. To preserve their retirement income by continuing to harvest from the farm they worked for decades, the right decision was to go referral. With every closed sale they receive a nice portion of the commission after closing. As they will tell you, people are so used to asking them about the condition of the market, business continues years and years after they stop practicing. It would be a waste to have to turn them away to an unknown practitioner. Why not refer them to a brokerage you know and trust?
Costs are minimal as mentioned earlier. The agent can expect to maintain continuing education classes as needed every two years and pay DPOR fees to renew licensure status. Capital Referral Associates charges a nominal administrative fee of $100 annually to agents. Other than those expenses, there are none binding the agent.
If you are looking to put your real estate career on pause, to get started in real estate in a stepped in manner, or retire and keep the income stream alive, this could be a serious option for you. Consider contacting the office for further information or to schedule a private and free consultation.
Bobby Jankovic, Broker/Owner
1166 Jamestown Rd. Williamsburg, VA 23185
Licensed in Virginia #0225055091
cell (757) 291-1114