Homelight Referral Agreement

It`s easy to get started. Agents can visit homelight.com/agents to create a profile, sign our recommendation agreement and update their transaction history to show their success and expertise. Here are six things you need to know how HomeLight for Professionals works based on their agent contract. After signing a contract for a transaction resulting from a recommendation, the agent will notify HomeLight immediately via email or via the HomeLight website and indicate the expected completion date. The agent orders the agent to pay the transfer fees that result directly from the faithful. When consumers choose an agent on HomeLight, they essentially refer to that agent, and that agent reimburses HomeLight for a referral fee. Intermediation fees generally lead to what cartel experts call “reverse competition” – competition not to attract consumer attention, but to the attention of the intermediary who directs the consumer to its brokerage network and away from its competitors. Such direction may result in a reduction in the quality of service or an increase in commissions, fees and price levels. [17] HomeLight is a great way for real estate agents to showcase their skills, create and increase their online presence, generate additional referral activities and create their service toolkit. When an agent represents both the buyer and seller in the same transaction and a portion is a HomeLight recommendation, the referral fee is the standard fee (25%) 1/2 of the total gross commission of the transaction. If an agent represents both a buyer and a seller in the same transaction, in which both parties are recommendations from HomeLight, the referral fee is the standard fee for the total gross commission.

If an agent represents a HomeLight client in multiple transactions within two years of the date of return, the default referral fee applies to those additional transactions. No fee is levied for transactions after the two-year period has expired. As you can see in the interview, HomeLight could be an excellent source of recommendation for some real estate agents, especially for those with a proven track record. Even for newer agents, it`s always worth creating an online profile on HomeLight. After all, there is no cost for that. You would only share the commission if they provided you with a lead and you reached the agreement. HomeLight is a real estate reference company based in San Francisco, CA, which uses the Internet as a marketing medium with the use of real estate technology. Although HomeLight is itself a real estate agent, it does not offer typical broker services. Instead, HomeLight collaborates with a network of participating real estate agents in different markets to which they refer clients.

[1] The company wants to connect people who sell their homes to local real estate agents. [2] [3] What is HomeLight? HomeLight is a real estate consulting firm based in San Francisco, California, that uses advanced technology to compare home buyers or sellers with real estate agents.