FREQUENTLY ASKED QUESTIONS

 

Q 1.     How do I join the Coldwell Banker Referral Network?

Q 2.     What fees are required to join the Coldwell Banker Referral Network?

Q 3.     Will I be reminded of any continuing education (CE) requirements and license renewals?

Q 4.     What types of properties can I refer?

Q 5.     Can I be actively involved in the referral after assignment?

Q 6.     Can I request the sales associate that I want to work with my customer?

Q 7.     How much can I earn as an active member with Referral Network?

Q 8.     Do my referrals always go to Coldwell Banker offices?

Q 9.      Should I call an agent or broker and assign my own referral?

Q 10.    Do I have to keep “office hours”?

Q 11.    Can I aggressively farm a neighborhood or contact expired listings?

Q 12.    How do I generate referrals?

Q 13.    What do I say to a potential buyer or seller?

 

ANSWERS:

 

Q 1.  How do I join the Coldwell Banker Referral Network?

A.  Once we receive your contact information, we will then send you a membership packet to complete.  Once you submit your completed membership packet, required licensing documents and fees, your enrollment will be complete.  We will then send you a Welcome Packet confirming that all documents have been received. 

 

You can either click on the “Join” link on our website to provide your contact information or you can contact The Referral Network at 847-313-6590.  

 

Q 2.  What fees are required to join the Coldwell Banker Referral Network?

A.  There is a $125 annual membership fee for the Coldwell Banker Referral Network.  This is due on the anniversary of your join date.  In addition, the member will be required to pay for any state licensing transfer or renewal fees.  These fees vary by state and license status.  

 

Q 3.  Will I be reminded of continuing education (CE) requirements and license renewals?

A.  Yes, we mail out reminders of both CE requirements and license renewals.  Please make sure the Coldwell Banker Referral Network is advised of any change of address.  In addition, we are affiliated with the Coldwell Banker School of Real Estate who will mail out a class schedule and registration forms for all CE classes that are offered through the Coldwell Banker School of Real Estate.

 

For Indiana licensees, once your license is in “Referral Status”, you are not required to complete any CE requirements.  Illinois licensees are required to complete the required CE requirements. 

 

Q 4.  What types of properties can I refer?

A. Any type of marketable real estate anywhere in the United States.  Referral fees are rarely paid on rentals and fees paid on commercial transactions may vary and shall be set by the Coldwell Banker Referral Network.  

 

Q 5.   Can I be actively involved in the referral after assignment?

A: We encourage you to be very actively involved with any referral that we place.  You will be given the assigned agent’s name and contact information on your referral confirmation.  We also encourage you to follow up with your customer to make certain that they feel they are getting the service that they deserve.

 

Q 6.   Can I request the sales associate that I want to work with my customer?

 A:  We will make every attempt at honoring your request for a particular

 associate; however, the final broker placement is at the discretion of the Coldwell Banker Referral Network.  We want to make certain that your customers get the best service and that the assigned broker agrees to pay our fee.

 

Q 7.     How much can I earn as an active member with Referral Network

A:  Upon closing, you will earn half of the referral fee received by Coldwell Banker Referral Network.

 

Q 8.   Do my referrals always go to Coldwell Banker offices?

A:  We strive to place all referrals with a trained and qualified associate.  If we have a Coldwell Banker office or another broker that is in our “network” of brokers, that will be our first choice. 

 

Q 9.     Should I call an agent or broker and assign my own referral?

A:  No.  Contact a Referral Specialist at our office 847-313-6590 and they will make the contact for you.  This way we can avoid any miscommunication that could cause you to receive a lesser referral fee.  We will protect your referral by obtaining a confirmation signature from the assigned broker.

 

Q 10.     Do I have to keep “office hours”?

A:  Absolutely not.  You will determine your own work schedule.  You will get to mix business with pleasure by talking to relatives, friends and even acquaintances.  You can work while you are on vacation, traveling or attending any social events.  Have your business cards ready to hand out.

 

Q 11.     Can I aggressively farm a neighborhood or contact expired listings?

A:  You must be careful when you are soliciting business that you do not imply that you are actively listing or selling homes.  Remember that you must also adhere to the State and Federal “Do Not Call” laws, unsolicited fax and e-mail laws, and all consumer protection laws.  Give us a call to discuss any marketing plans that you may have.  We are always here to help.

 

Q 12.   How do I generate referrals?

A:  The most effective marketing tool is something with your name and contact information.  We suggest business cards.  Give them to all family members, friends and acquaintances with whom you socialize.  Once you join the Coldwell Banker Referral Network, you will have an opportunity to order business cards.  Another effective activity is “networking”.  Become active in community and professional groups that encourage professional interaction. 

 

Q 13.    What do I say to a potential buyer or seller?

A:  Once you find out they need real estate assistance, tell them that you are a “Referral Associate” and you are affiliated with a company that can assign a trained and experienced associate to assist them.  All you need from them is their name, address, phone numbers and best time to call.  Most importantly, however, is their permission to refer them.

           

Don’t forget that you may have an opportunity for two referrals from just one customer.  If they are asking to be referred as a buyer, don’t forget to ask if they have a home to sell.  Just tell us when you call.