W e i c h e r t R e f e r r a l A s s o c i a t e s G u i d e b o o k. To earn extra income by referring, just keep on referring to this book.

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1 W e i c h e r t R e f e r r a l A s s o c i a t e s G u i d e b o o k To earn extra income by referring, just keep on referring to this book.

2 Congratulations! You ve made an excellent decision. We couldn t be happier to add your name to the rolls of Weichert Referral Associates. To smooth your way, we ve created this detailed guidebook with easy-to-grasp, step-by-step explanations of everything you have to do or know in order to succeed. On these pages, you will find all the basics involved in order to: Refer your business Earn and collect your commissions Maintain your license And there s much more. You will also discover valuable tips, tools and strategies for jumpstarting and then growing your referral business. We re sure you will find that Weichert Referral Associates is far more than a place to hang your license. As a matter of fact, we believe you will find this to be the best part-time job you will ever have! Our highly professional organization will handle all your outgoing referrals, maintain your license and promptly process your commission checks. What s more, we will consistently encourage your efforts and support you with a full range of materials and information. As a member of Weichert Referral Associates, you are now connected to the entire Weichert Family of Companies. Weichert, Realtors, which started in 1969, is one of the largest privately-owned real estate companies in the U.S. Since each Weichert office is a one-stop destination for the full range of real estate products and services, you can be confident that people you refer will receive both expert assistance and the highest levels of service when selling or buying a home. To contact us, call or us at referral@weichertrealtors.net. TABLE OF CONTENTS What is a Referral Associate? 2 Benefits to You 3 - What You Can Do - Online Training and Technology Courses Sources of Leads 4 - Sphere of Influence Form How-To s Increase Your Referrals - Partner with a Sales Associate Marketing Center - Business Cards - Direct Mail - Name Tag - Other Marketing Pieces Placing Referrals - Referral Form - Problems with Leads - Strategies for Success Do s and Don ts 8 Referral Fees 9 Licensing Information Continuing Education - Membership Fee - License Renewal - Moving out of State - Your own Purchase 1

3 What is a Referral Associate? 1. A Referral Associate is an individual with a real estate license who has chosen to place that license with a referral broker and has contractually agreed not to actively engage in real estate transactions. 2. A Referral Associate does not belong to any Board of Realtors * or Multiple Listing Service and, in most states, is not required to purchase errors and omissions insurance. 3. Referral Associates must renew their licenses and complete continuing education classes as required by their state of licensure. Who can be a Referral Associate? Someone brand-new to real estate Anyone who wants to get their feet wet in real estate while working full-time at another career Stay-at-home parents Retirees from full-time real estate sales who want to utilize referral status as an annuity Any former full-time agent, referring their past customer base for years to come Referral Associates can supplement their income by obtaining leads and referring them to full-time Sales Associates world-wide. As a Weichert Referral Associate, there are no quotas and no mandatory meetings to attend! You can do as much or as little as you choose to do. It is all up to you. This is your business. You determine your own income. You are in control! This is the best part-time business you will ever find! *A Weichert Referral Associate is not a REALTOR. 2

4 Benefits to You Allows you to keep your real estate license active so you can immediately act upon an opportunity. If you re new to real estate, it allows you to get your feet wet while you continue working at your full-time career. (The experience and knowledge you gain can be the stepping-stone for an active real estate career in the future.) If you re enjoying retirement from your full-time real estate career, it allows you to earn an income with your license, by referring past customers and people you come in contact with during your daily routine. As opposed to the many hundreds of dollars full-time Sales Associates pay in multiple listing service fees, Realtor dues and errors and omissions insurance, you pay only a nominal membership fee. Note: If you are coming to Weichert Referral Associates from full-time sales status, please make sure your memberships to all Real Estate Boards and multiple listing services have been cancelled. Allows you to refer prospects world-wide. As a Referral Associate, because you are not actually handling the transaction, you are not limited to referring only in the state in which you are licensed. Your business will be referred to a Sales Associate who is licensed in the state in which your prospect is interested. When the transaction closes you will receive a referral fee. Our world-wide referral system is at your service by making a single phone call to or simply ing us at referral@weichertrealtors.net. Local referrals are handled by Weichert, Realtors, one of the largest, most successful independentlyowned residential real estate companies in the nation. You can refer: - Residential Properties - Commercial Properties - Land - Rentals - Time Shares - New Construction Most importantly, you can refer YOURSELF! Weichert Referral Associates demonstrates a highly successful conversion rate. Your referral efforts are more likely to be rewarded! Informative newsletters are ed to you monthly, providing you with updates on the real estate market, as well as real estate-related news and ideas on how to acquire referrals. We offer an online training course, Building Your Referral business: A Guide for Converting Your Referrals into Cash with 6 modules to provide excellent advice and the all-important dialog you ll need to answer the questions you re bound to be asked as you begin to seek referrals. (The course is constructed to give newcomers like you a running start and to be valuable again and again as you look for ways to grow your referral business.) Online technology courses including Word and Excel. Weichert Gold Service benefits are available to you as well as your prospects. Weichert Advantage offers you deals and discounts. A Facebook page for networking 3

5 Sources of Leads Anyone you know or meet can be a lead. You can refer friends or family or neighbors or business acquaintances and of course YOURSELF! What business can you refer? You can refer prospective buyers and sellers for: Residential sales such as primary residences, vacation homes, investment properties and condos for college students (instead of paying room and board) Commercial Properties Land New Construction Rentals and Timeshares where accepted YOUR SPHERE OF INFLUENCE Here is a list to help you start thinking about all the people you may come in contact with: Bankers Barbers/beauticians College classmates Doctors, dentists and nurses Electricians, plumbers and handymen Fellow hobbyists Friends and associates of your spouse Insurance agents Lawyers Sphere of Influence form Members at your place of worship Members of your clubs Parents of children s friends People at parties People you play cards with P.T.A. members Salespeople in stores you frequent Waiters/waitresses Since everyone is more comfortable working with someone who comes highly recommended, you ll be performing a valuable service with every referral you make! 4

6 How-To s I. INCREASE YOUR REFERRALS A. Be Organized: List everyone in your sphere of influence. You almost certainly know more people than you realize. Ask yourself how many of them actually know you have a real estate license and can help them with their real estate needs? Keep adding to your list as you meet new people. Use our market resources to keep in touch with everyone at least twice a year. B. Listen for signs of interest in real estate: Who is announcing the expected birth of a child? Who is announcing their retirement or expressing an interest in looking for retirement properties? Who has a child going off to college and is contemplating purchasing a condo for the child vs. paying room and board? Who is talking about real estate prices and investment properties? Who is talking about downsizing? Who is talking about needing more living space? Who wants to purchase a second home? This is your opportunity to offer your service as a Referral Associate and place the prospects with a Sales Associate who is an expert in any market area in which the prospect expresses interest. Just contact us and we will place your lead with one of the professionals in our world-wide data base. C. Learn from the FAQ s You will certainly find our questions and responses informative, especially if you are unsure of how to respond to certain questions or situations when you are in the process of obtaining a referral. II. PARTNER WITH A WEICHERT SALES ASSOCIATE Establishing an on-going relationship with the right Sales Associate can be extremely beneficial. If you are not currently working with a Sales Associate and would like to, please call or us at referral@weichertrealtors.net. Although Referral Associates cannot list or show property, there are certain activities in which you can participate if you choose to, such as: You can make Open House follow-up calls for the Sales Associate holding the Open House. You can use a sales office to make cold calls. The list of people to contact will be provided to you by the office. (As a Referral Associate, you do not have access to the do not call list.) We have created the modified dialog to help you. 5

7 How-To s III. YOUR MARKETING CENTER A. Use Business Cards This is perhaps your most important tool. A simple business card is vital to the promoting of your business. Because there s no better way to let your friends and acquaintances know that you ve joined Weichert Referral Associates and can help them with their real estate needs worldwide! Order your cards right away by clicking here. Once you have entered the site, select Your Duplionline and enter the following information: - Account Code: weichert - User Name: weichert - Password: weichert You ll want to give one to everyone you know and anyone you meet. Please note: The name in which you are licensed must appear exactly that way on all business cards and advertising. The only exception is that you may include a nickname in quotation marks or parentheses. John (Jack) Smith is permissible as is Susan Sue Jones. B. Send Direct Mail imail Cards Over the past several years, QuantumDigital has provided Weichert Referral Associates with direct mail services using the power of the internet. You can activate your entire mailing list in minutes from imail, and reach out to your friends, neighbors and family with ease. - Get started by enrolling or logging in at Mapmail : Creating your direct mail piece, finding your perfect prospects, and delivering your messages to them is a snap with this essential part of a complete direct mail fulfillment program. - Merge demographics with an interactive Google Map interface to control exactly to whom and where you send your direct mail pieces. - Target particular areas, such as a specific development that you are aware of where the majority of homeowners are becoming empty nesters and are interested in downsizing. Or reach out to potential first-time homebuyers in an apartment complex. E-Marketing: The perfect online marketing companion to our traditional direct mail service, this allows you to create, send and track s. It is an easy way follow up with current prospects, to encourage customer loyalty and to position yourself for repeat business. If you have any questions call or us at referral@weichertrealtors.net. C. Wear A Name Tag It s like having your own personal billboard. Whether you are shopping, running errands or going out to eat, you will be pleasantly surprised at how many people are drawn to your bright yellow name tag and will start to speak to you. All you have to do is let them know how you can connect them to a Sales Associate who is an expert in any market area in which they are interested worldwide. - You can order your name tag by clicking here. With questions or problems call or us at referral@weichertrealtors.net. D. Other Marketing Pieces Download 3 different flyers that have been created for you by clicking here. If you prefer to create your own marketing piece*, you must: - Include the Weichert Referral Associate logo which must be in larger print than your name. - Your name must appear as the name on your license. - Identify yourself as a licensed sales person or sales representative not as a Realtor. - Include broker s telephone number, Identify your home phone, cell phone and also your address, as such, if included. *Once you have created your marketing piece, you must submit a copy to us by referral@weichertrealtors.net or fax: to ensure it is in compliance with the rules and regulations of the real estate commission. 6 6

8 How-To s How-To s IV. PLACE A REFERRAL A lead may be referred in several ways, depending on the particular situation: You may place your lead directly with the Sales Associate with whom you are partnered. If the lead is outside of the Sales Associate s market area or area of expertise and you know another Sales Associate you would like the lead to go to, you may go directly to that Sales Associate with your lead. In both cases please complete our referral form in full and have the Sales Associate and their manager sign the form and return it to you. This will provide you with a fully signed copy for your file and you will send a fully signed copy into our office to record the referral. The form can be faxed to or ed to referral@weichertrealtors.net or mailed to: Weichert Referral Associates, 1625 Route 10 East, Morris Plains, NJ If you don t know the Sales Associate you want your lead to go to, simply contact one of our referral coordinators (referral@weichertrealtors.net) or call Your lead will be placed promptly and you will be notified via as to whom the lead was placed with. This will enable you to establish contact with that Sales Associate. If you have a lead that is outside our Weichert coverage area, contact our referral coordinator. We will assist you in its placement. We have a data base of brokers world-wide with whom we have established successful associations. To place a referral, you must have the following information*: Prospect s name and contact information. For prospects interested in purchasing, the specific areas in which they are interested, including town/ city and state. For prospects who would like to sell property, the list property address. To get paid on both sides of a transaction (listing and purchasing) you must specifically refer the prospect as both a buyer and a seller - even when the same Sales Associate is handling both sides. Is there any reason why a lead may not work out? The prospect may have already listed with another broker. The prospect may have decided not to move. There is always the chance that the prospect selected another Sales Associate or broker. The prospect may be already working with another Sales Associate or broker and did not tell you. Someone else already referred the prospect to a broker. Strategies for a successful referral Stay in contact with both the Sales Associate and your prospect once the referral has been assigned. By remaining aware of the progress of the referral, you will be able to make sure your prospect is satisfied with the services provided. Keep in mind that the Sales Associate to whom you have referred your prospect must close the transaction in order for you to be paid. If you have a prospect who would like to interview more than one Sales Associate, call one of the referral coordinators for assistance. If you detect a problem with a referral, contact a referral coordinator immediately at referral@weichertrealtors.net or call * For the lead to be qualified, you must provide the referral information directly to either the Sales Associate or a referral coordinator for placement. Never have the prospect contact a Sales Associate or Weichert Referral Associates on their own. The lead must come from you! 7

9 Do s and Don ts Do: Hand out your business card to everyone you come in contact with. Have it ready at all times and, when someone asks for your phone number or address, just hand it to them. Instill confidence in your prospects. Partner with a Sales Associate. Speak highly of your Sales Associate contact in particular, and both Weichert, Realtors and Referral Associates in general. Let everyone know that you are the link between the prospect and the real estate professional. Stay in contact with your sphere of influence on a regular basis (ask for the business). Your enthusiasm and upbeat, positive attitude will convince prospects to trust you. Stay in touch with both your prospect and the Sales Associate. We cannot stress enough how important this is to your success as a Referral Associate. Remember that the best customers are Double Treats. Since sellers are likely to buy and most buyers have something to sell, you must always be aware of the opportunity to refer both sides of the same deal. Any time you can collect two fees from the same prospect, you re going to be doubly pleased. Do Not: Appear unsure. Remember, you will be recommending only brokers of the highest caliber and you have Weichert Referral Associates to assist with each referral. Offer you services to anyone whose property is already listed with a brokerage firm. It is illegal to solicit their business. Answer specific real estate questions. Let the full-time sales professional handle that. Promise anything except your own commitment to stay in touch throughout the process. Be careful not to let your positive attitude lead you to say anything that your prospect could interpret as a guarantee of either specific service(s) or results. Tell a prospect to call a Sales Associate or a Weichert Referral Coordinator directly. You must place the referral yourself in order for it to be considered a qualified referral. (See the section on How to Place a Referral for complete instructions). Expect a commission after the fact. This applies if the Sales Associate has been working with the client before the referral lead was placed. Contact our office when in doubt. 8

10 Referral Fees As a Referral Associate you will receive a referral fee of 30% of the Sales Associate s commission for any referral that is placed for you with a Weichert Sales Associate by Weichert Referral Associates. (For the purpose of calculation of the referral fee, a 50/50 split is always assumed, regardless of the buying and selling agents actual split.) Example: A Referral Associate refers a buyer who purchases a property that yields a 6% commission 3% to the listing side and 3% to the buyers side (the referred side) 3% to the referred side = $10,000 50% of $10,000 = $5,000 30% of $5,000 = $1,500 The referral fee received by Referral Associate = $1,500 Your referral check will be sent directly to your home. Make sure your home address and all contact information including your address is always current. To update your address, call or us at referral@weichertrealtors.net. Commissions are paid to you, the Referral Associate, within ten (10) days after the money has been deposited in our WRACI account. Whenever you have any questions relating to commissions, please contact us at referral@weichertrealtors.net or call Your fees are covered under a contractual arrangement between Weichert, Realtors and Weichert Referral Associates. For commission arrangements pertaining to some of the other Weichert companies and non-weichert brokers, please reference your contract. In a case where the referral goes to a non-weichert broker, please contact Weichert Referral Associates at referral@weichertrealtors.net or for referral fee information. 9

11 Licensing Information I. CONTINUING EDUCATION In states that require continuing education, you must keep current to keep your license active. For information regarding continuing education by state, please go to or call II. MEMBERSHIP FEE All Weichert Referral Associates are billed annually. Our membership year, which may or may not coincide with your license renewal, begins on July 1 and ends on June 30. If you have three successful referrals close in one year, your following year s membership fee will be waived. Membership fees are non-refundable. III. LICENSE RENEWAL NJ: Renews every two years on odd years. You will receive an at the beginning of April. (To make sure we have your current address, please us at referral@weichertrealtors.net.) This will allow you to renew on our secure online site or enable you to print out your invoice and mail it in with your payment. PA: Renews every two years on even years, license expiration date 5/31. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net Option to renew online is available at NY: Renews every two years on anniversary of licensure. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net. Option to renew online is available at CT: Renews annually, license expiration date 5/31. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net. Option to renew online is available at MD: Renews every two years on anniversary of licensure. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net. Option to renew online is available at VA: Renews every two years on anniversary of licensure. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net. Option to renew online is available at DE: Renews every two years in even years, license expiration date 4/30. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net. Option to renew online is available at DC: Renews every two years on odd years, license expiration date 8/31. Renewal notification sent to broker. Make sure we have your current address and home address. Please us at referral@weichertrealtors.net. Option to renew online is available at For all other states, please us at referral@weichertrealtors.net or call

12 Licensing Information IV. MOVING OUT OF STATE? You can continue to place referrals anywhere in the United States through our Referral Line and receive referral fees on all successfully closed referrals even if you move to another state*. Your license will still be valid as long as you meet two conditions: 1. You must continue to comply with the requirements of the real estate commission in the state in which you are presently licensed. 2. You must keep your membership with Weichert Referral Associates current. If you move, please us at or call V. DISCLOSURE FOR YOUR OWN PURCHASE Every Referral Associate must, upon deciding to make a purchase of real property, have proper disclosure statements as required by the individual state. These must be presented to the seller when you first enter the property, indicating your licensure and that your interest in the property has to do with the possibility of purchasing it for yourself. In all cases when you, a licensee, are buying or selling a home, investment property, or land or leasing real estate, your name must appear in the respective contract(s) and/or newspaper advertisements as a Real Estate Licensee. It s the law! *Note: Your new state may require an irrevocable consent form. If you have any questions, please us at referral@weichertrealtors.net or call In Conclusion We hope this guidebook has given you confidence that Weichert Referral Associates is the place for you. Whether you re new to real estate and testing the water or an experienced Sales Associate who s keeping a hand in, we want to be sure you have everything you need to open your new income stream. One of the main advantages of being a Referral Associate is that all you have to do is generate one converted lead to cover expenses and begin to earn something extra. For most people, that means it s possible to devote as little or as much time and energy as you want. Nonetheless, we urge you to dive right in and make the most of this opportunity. Any work you do now to establish yourself is likely to pay off down the road. Approached with natural enthusiasm, the upside potential of referring is terrific. Weichert Referral Associates thanks you for joining us and wishes you all the best in your new venture. If you have any questions, don t hesitate to us at referral@weichertrealtors.net or call Weichert, Realtors. Weichert is a federally registered trademark owned by Weichert Co. All other trademarks are the property of their respective owners. REALTOR is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics. Each Weichert franchised office is independently owned and operated. If your property is currently listed with a real estate broker, this is not a solicitation of the listing. 11