25th December 2022
Keller Williams Referral Agreement – What You Need to Know
Are you a real estate agent looking for opportunities to expand your network and increase your income? A referral agreement with Keller Williams might be just what you need.
Keller Williams is one of the largest real estate franchisors in the world, with over 190,000 agents and 1,000 offices in 30 countries. They offer their agents a referral program that allows them to refer clients to other agents within the Keller Williams network and receive a percentage of the commission when the referred client successfully closes on a transaction.
To participate in the Keller Williams referral program, you must sign a referral agreement with the company. This agreement outlines the terms and conditions of the referral program and sets out the responsibilities of both the referring agent and the receiving agent.
The referral agreement specifies the commission split between the referring agent and the receiving agent. Keller Williams typically takes a 30% referral fee, leaving 70% for the receiving agent and the referring agent to split based on their own agreement. The commission split may vary depending on the referral type, such as inbound, outbound, or intra-office referrals.
The referral agreement also sets out the criteria for the referral fee payout. The referring agent is entitled to a commission when the referred client successfully closes on a transaction, and the receiving agent receives their commission. The referring agent should ensure that they follow up with the receiving agent to ensure that the transaction has closed and their commission has been paid.
It is essential to note that the Keller Williams referral program only allows agents to refer clients to other agents within the Keller Williams network. If the client is referred outside the Keller Williams network, the referral is not eligible for a commission.
To participate in the Keller Williams referral program, you must be an active real estate agent with a valid license. You must also be a member of the National Association of Realtors and adhere to the Realtor Code of Ethics.
In conclusion, the Keller Williams referral program provides a great opportunity for real estate agents to expand their network and increase their income. However, before signing the referral agreement, you should ensure that you understand the terms and conditions of the program and the responsibilities of both the referring agent and the receiving agent. With the right approach, the Keller Williams referral program can be a lucrative opportunity for real estate agents looking to grow their business.