PREFERRED BROKER PARTNERSHIP (20% Program)
Our Broker Partnership Program has been created to offer a continuous and outlined source of referral business between Century 21 Sterling and its Real Estate Broker partners.
- Earn 20% of all Management Fees for all Referred Homes (Earn $240 to $600 Per Year / Per Home)
- Or, take a one-off $250 Referral Fee once the home is leased (for rents above $1,000 per month)
- Broker must agree to update company policy to recommend sending all Property Management referrals to Century 21 Sterling
- Broker will allow for periodic office presentations to offer Property Management education
Managing homes as a 3rd party is a tough business that inherently creates less than friendly situations. A significant percentage of NC REC complaints are property management related. If you want to earn revenue from your property management clients, but don’t want the hassle, call us about we can work together. Here are some of the programs we offer:
WHO IS THE IDEAL BROKER PARTNER?
This program was specifically designed to forge a long-lasting relationship with fellow Real Estate Brokers who want to focus strictly on assisting their clients with buying and selling homes. This creates a trusted resource to refer clients to who need Property Management services to rent and manage their home.
WHY IS THIS PROGRAM A GOOD DEAL FOR A BROKER PARTNER?
The Broker Partnership program has been created to offer a solid solution to the dilemma of needing to offer Property Management services, but being stuck with the headache, liability, expense, and inability to conduct that service at a high level. To be able to share in the monthly revenue stream – for the life of that management agreement – by a referral will hands down beat having to open and run a Property Management division. Even a well-run property management business may only ever achieve a 20% profit margin!
IT JUST MAKES SENSE! REFER US YOUR PROPERTY MANAGEMENT CLIENT AND MAKE MORE THAN DOING IT YOURSELF!
WHO MAY QUALIFY?
To qualify for this program, the Broker Partner must meet the following criteria:
Be the Broker of record with NC REC for their organization —or—
Be the decision-making authority (owner) for their organization
Individual or teams may qualify for this program if:
They contain two or more licensed Realtors
Their broker of record will allow this program under their current agency agreement
WILL MY CLIENT BE SENT BACK TO ME WHEN THEY WANT TO SELL?
YES!!! We Guarantee to return the referred client back to the Broker when that client is ready to sell their home.
WHEN DO YOU DISTRIBUTE FUNDS FROM THIS PARTNERSHIP?
We will distribute funds via check or ACH every quarter directly to the Broker Partner along with an annual IRS Form 1099.
IF I DECIDE TO BACK OUT OF THIS PROGRAM – CAN I CANCEL ANYTIME?
Yes. Should your company decide it’s best to part ways for any reason, you can cancel at anytime. We will still honor the $400 referral fees for any future referrals, and our client return guarantee.
IS THERE A BUYER’S REFERRAL FEE IF WE SEND INVESTOR REFERRALS?
Yes! At some point, all Realtors run into the home investor that wants the “good deal”. If your investor client would be better served to work with our team to assist them in purchasing an investment home, we will pay a 25% referral of the gross commission earned from that sale – and honor all of the terms below to include the $250 if we manage the home for that investor.
DO YOU HANDLE IRS TAX COMPLIANCE?
Yes. At the end of each year, we will send the Broker Partner the IRS required form 1099 to illustrate any earnings that must be reported. We will require an IRS form W-9 to be filed upon sign up.
SHOULD THE BROKER JUST BAN ALL PROPERTY MANAGEMENT INSIDE THEIR OFFICE?
This is a possible and a very smart solution. One easy technique for some Broker’s is to simply make policy that no Realtors will conduct Property Management services of any kind. It’s that easy! This would encourage the agents to bring all of their referrals to the preferred partner – Century 21 Sterling.
WOULD YOU BE INTERESTED IN BUYING OUR EXISTING PROPERTY MANAGEMENT BUSINESS?
Absolutely. We are always looking to acquire Property Management accounts with negotiable terms
