Annual Referral Agent Fees and Referral Fees

  1. Annual Referral Agent Fees: $75.00 or $85.00
    1. Referral Agents that accept their annual invoice via email will pay $75; all others will pay $85. The annual fee is due upon joining Statewide Referral Agency, Inc. Renewal fees are due before June 15 of each year. Agents joining after July 1st will be charged $75 and after January 1 a prorated fee of $50.00.
  2. License Renewal Fees
    1. The Referral Agents will be billed for license renewal according to the schedule determined by the New Jersey Real Estate Commission. Fees are determined by the State of New Jersey and are subject to change.
    2. If a Referral Agent fails to pay the annual fee his or her license will be returned to the New Jersey Real Estate Commission. If the license is not reinstated within the time period allowed by the New Jersey Real Estate Commission the license will expire permanently.
  3. Referrals and Commissions
    1. A Referral Agent may refer a buyer or seller to Statewide Referral Agency or they may select a REALTOR to refer the consumer. For those agents that want to select the REALTOR the consumer is referred, they will also be permitted to work with Statewide in negotiating the referral fee to be paid to Statewide Referral Agency and, in turn, this will effect the amount the Agent will receive. (N.J.S.A. 45:15 provides that a referral agent shall only refer prospects to the real estate broker through whom they are licensed as a referral agent and shall only accept compensation for their activity as a referral agent from that broker.)
    2. Each Referral Commission paid to Statewide Referral Agency will be split with the Referral Agent. The split is 30% to Statewide Referral Agency and 70% to the Referral Agent. This amount is subject to change, but has been in effect since 2005. The amount requested from the REALTOR to whom the consumer was referred can differ according to the market area of the property or other factors. The below sample is for a 30% fee on a $400,000 sale.

Example of 30% Referral Fee:

Transaction Sales Price

$400,000

Commission Rate-Referred Side

x2.5%

Commission received by REALTOR

$10,000

Referral Fee Paid to Statewide Referral Agent

$2,100


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