+ What is a referral associate?
A referral associate is someone who holds an active real estate license but earns income by referring a person to a Realtor® as a lead rather than engaging in active sales.
+ How do I join Watson Referral Realty, Inc. as a referral associate?
It's so easy. You can join by clicking here or in the navigation menu at the top of the page. There, you’ll have access to the paperwork needed to sign up. Simply follow the instructions in the packet and submit your information with your payment. If you have any questions, you can contact the Watson Referral Realty, Inc. Broker at (800) 444-5724 or fill out our contact form.
+ How do I place a referral?
You’ll contact the customer, gather as much pertinent information as possible about them and their buying or selling needs, and get permission to refer them. Important information to obtain includes their name, phone number(s), physical address, email address, area of interest, type of home (single family home, condo, townhouse?), price range, and any other information necessary to place the referral with a real estate broker. The more information you can obtain, the easier it will be to meet the customer’s expectations. To place your referral, call Watson Referral Realty, Inc. at 904-726-0501, (800) 444-5724, or submit your referral though the website.
+ How do I get paid?
When a real estate transaction closes, the destination company will pay Watson Referral Realty, Inc. a referral fee from their gross commission. Watson Referral Realty, Inc. will receive that referral fee check via postal mail within 10 business days of closing. The referral fee check is processed and then Watson Referral Realty will mail a check to you the next business day.
Watson Referral Realty compensates using a tiered commission schedule. Below is an example of how the calculation works when a referral is placed at 30%. For additional information, you may review the Watson Realty Referral, Inc. Policy and Procedure Manual.
+ Can I have a full-time job in a different profession?
Of course! Watson Referral Realty, Inc. was created for people just like you who have chosen not to pursue real estate as a full-time career, who are changing their occupation, or are retiring from full-time work as a real estate agent. As a referral associate, you can still generate referrals through personal and business networking channels even with a different full-time job.
+ Can I place international referrals?
Yes! Watson Referral Realty, Inc. has relationships with brokerages both inside the US and internationally. We can assist your customer in finding an agent almost anywhere in the world.
+ Can I list a property?
As a referral associate, you are ineligible to list or sell any property, participate in negotiations, or execute any real estate documents. You can refer your customer to an active REALTOR® who will, in turn, provide a referral fee for the introduction if that introduction results in a closed transaction.
+ What is the total start-up cost?
The cost is only a $65 annual fee. There are no local or national board membership dues or MLS fees to be paid.
+ What if I refer a customer to a builder of new construction?
If you make the introduction to a builder, let the builder know you'd like a 3% referral fee to be paid to Watson Referral Realty, Inc. for the introduction. Then call Watson Referral Realty, Inc. so the broker may generate a referral agreement with the builder. The broker will follow up to make certain that a referral agreement has been signed before the transaction closes.
+ Do I have to join the local real estate board and/or MLS
No! As a referral associate you will not be required to join the local, state, or national Board of Realtors, nor will you be an MLS member.
+ Is continuing education required?
Referral associates are required to maintain their Florida Real Estate License at their own expense. Therefore, FREC’s continuing education requirements must be met. Find out more information about Watson School of Real Estate's continuing education offerings here.
+ Can I place a referral with a REALTOR® I know?
Yes! As long as the individual is an active REALTOR®, Watson Referral Realty, Inc. will place the referral with that individual, then generate a referral agreement and track the execution of all the paperwork. However, if the referral associate does not direct the referral to a specific full-time sales associate, Watson Referral Realty, Inc. will select a reputable real estate broker in the service area.
+ Do I pay errors and omissions fees?
No! E&O fees are not a requirement for referral associates because you are not practicing real estate.
+ What happens if I move out of state?
There is no requirement for referral associates to live in the state of Florida. As long as you complete the continuing education required to keep your real estate license in current status, you can live anywhere you wish.
Got Questions? Call (800) 444-5724 or Contact Us
7821 Deercreek Club Road, Suite 101 • Jacksonville, FL 32256