Time Out.

Ok so I 'm at home recovering from some surgery I had yesterday . . . but here I am at my computer tending to my real estate business. I got the news that I will soon have another RE agent go into my referral company: that's when an agent doesn't really have the time to conduct real estate themselves so they put their license into a referral company, like mine, and then just refer in names of customers to me and when those customers "close", I can pay them a referral fee. See in the state of Virginia, you must hold an "active" real estate license in order to be paid on any real estate transaction but by only having a license on referral status you can avoid belonging to all those boards and having to pay for MLS and lockbox keys and REALTOR dues, etc. The only hard part is, you can not conduct real estate at all yourself. But for lots of agents who are, just starting out and want to transition in to real estate or agents who do not want to give up their other full time jobs, or when an agent is ready to retire and wants to keep the income flowing. Sometimes it just makes sense if the outside life is so full but you don't want to give up that RE license you worked so hard for!
Any way, did I cover the "referral" topic for you ? Remember, don't hesitate to ask questions if you have them, I'll do my best to answer or find the answer.