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Referral Agent Program

Referral Network - LMA Realty

LMA Realty referral check


What is a Referral Company?

A “referral company” is a real estate brokerage created for the purpose of connecting prospective home buyers and sellers with top agents on the Virginia Peninsula, in Williamsburg and across the country.

Who are Typical Referral Agents?

  • Some of our agents have retired from successful real estate careers, and still enjoy connecting past clients and active agents.
  • Some of our agents found that selling real estate full time just wasn’t their cup of tea, but since they worked hard for their license, they wanted to capture referral opportunities.
  • Some of our agents are waiting for a more opportune time to embrace a real estate career, perhaps after they retire from the military or when children are a bit older, but wanted to be involved and connected.
  • Many others are simply interested in making some extra money, and appreciate that this is a simple way to do it.

How Does it Work?

Referral Associates can earn referral fee income by simply picking up the phone and passing along the name of a prospective lead that eventually buys or sells a home through the system. When the transaction closes, the referral agent receives a portion of the commission.

Example:

Sales Price Brokerage Fee 25% Referral Fee Referral Associate Income
$250,000 3% $1,875 $937.50*

*Referral commission splits increase based on closed referrals in a calendar year. LMA referral associates can earn up to 75% of the brokerage fee.

What Does it Cost to Join?

Because the brokerage does not belong to local, state and national REALTOR® organizations, referral associates do not have to incur membership dues, MLS fees or other expenses normally associated with a real estate career.

Because referral associates are limited in their practice, they do not need errors and omissions insurance, as well as other ongoing expense commitments that full time agents are responsible for.

There are no administrative fees to join or annual dues to pay to belong to LMA Realty.

If You Already Have a License

If you already have an active real estate license with another firm, it’s easy. It only costs $60 (payable to the Treasurer of Virginia, and submitted with transfer paperwork to DPOR**).

If you have an inactive real estate license, you must bring your continuing education and license renewal requirements up to date, and then it only costs $60 (payable to the Treasurer of Virginia, and submitted with activate paperwork to DPOR).

If You are Interested in Obtaining a License

If you are interested in obtaining a real estate license, you must first attend a Principles of Real Estate course (either classroom or online), pass a final classroom exam, and pass the state real estate licensing exam.

Once that is completed, it costs $170 (payable to the Treasurer of Virginia, and submitted with initial salesperson paperwork to DPOR).


**Department of Professional and Occupational Regulation

Why LMA Realty?

  • Sliding scale commission program enables you to earn up to 75% of the brokerage fee!
  • There are NO administrative fees to join or annual dues to pay to belong to LMA Realty.
  • You will have the opportunity to refer clients locally to one of the leading brokerages in the local market place, or select an agent you know personally to receive your referrals.
  • There are NO minimum production requirements.
  • You may refer clients nationally or internationally through our network of leading brokerages.
  • We accept commercial, rental, property management and land leads in addition to residential referrals.
  • We offer a generous benefit package for personal residence transactions and personal investment property purchases.
  • Our referral associates are welcome to participate in optional industry leading training programs, including FREE continuing education roundtables and workshops.
  • Our on-site marketing department and design team is available to all referral associates to assist with the creation of prospecting and marketing materials.

Work With us

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LizMooreInsider.com

Oyster Point in Newport News
11801 Canon Boulevard, Suite 100
Newport News, VA 23606
(757) 873-2707 (800) 825-2707

New Town Williamsburg
5350 Discovery Park Blvd.
Williamsburg, VA 23188
(757) 645-4106 (800) 825-2707

Richmond
11449 Robious Road
Richmond, VA 23235
(804) 594-5870

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