Frequently Asked Questions

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 FAQs

  • BMN Real Estate and Referral Services is currently licensed in AZ, CA, KS, MO, and OK

  • It's so easy! Visit the affiliation section of the site, click on your state and fill out the appropriate paperwork. Follow the instructions to transfer your license and pay the fees. Each agent must hold an active real estate license and pay the annual fee to BMN Real Estate and Referral Services. If you have any questions, please contact us! Click here to begin the process and join.

  • The annual affiliation fee to BMN Real Estate and Referral Services is just $97. The transaction fee with every successful referral is $297. State fee to transfer your license varies by state from $0- $100.

  • The BMN Real Estate and Referral Services agent must get their customer's permission and then collect information about the referral. For example, the customer's name, phone number(s), physical address, email address, area of interest, type of home (single family home, condo, townhouse?), price range, and any other information necessary to place the referral with a real estate broker. The more information the Referral agent can obtain the easier it will be to meet the expectations of the customer which will result in a referral fee. To place a referral, fill out the referral agreement and obtain the necessary signatures from a real estate broker of your choice or contact BMN Real Estate and Referral Services and we will be happy to assist you.

  • Yes! As long as the individual is an active agent. You can place the referral directly with that individual by generating and executing the BMN Real Estate and Referral Services Referral Agreement which will also be signed by your BMN Real Estate and Referral Services broker. However, if you do not know a specific full-time sales associate in the service area, BMN Real Estate and Referral Services can help select a reputable agent.

  • NO! You can place a referral anywhere in the world where an agent can legally pay a referral.

  • YES! You would refer yourself to an agent just as you would any other buyer or seller.

  • Yes, but keep in mind that you will not have access to the MLS. In many cases, it is better to refer yourself.

  • When you are placing a referral with an agent, the referral agreement is between the two of you. However, standard practice is between 25% and 35%. Please keep in mind a transaction fee of $297 will be collected by BMN Real Estate and Referral Services. You don't want to cut yourself short, especially on a lower priced transaction.

  • When a real estate transaction closes, the destination company will pay BMN Real Estate and Referral Services a referral fee from their gross commission. BMN Real Estate and Referral Services will receive that referral fee and a copy of the settlement statement via postal mail usually within 10 business days of closing. The referral payment to you is processed within 5 business days it is received and you should have your funds in less than a week. We can pay by check or electronic transfer.

  • BMN Real Estate and Referral Services will pay out the entire referral fee to you less the $297 transaction fee.

  • Of course! BMN Real Estate and Referral Services was created for people just like you who have chosen not to pursue real estate as a full-time career, or who are changing their occupation or are retiring from full-time work as a real estate agent.

  • Yes, but the referral must be made to a commercial agent. If you know a commercial agent, you can place the referral directly with them. If not, contact BMN Real Estate and Referral Services for assistance in finding a commercial broker in the area needed.

  • No. The brokerage BMN Real Estate and Referral Services does not have memberships to these association and services. No agents affiliated with BMN Real Estate and Referral Services will have membership and must cancel any and all Realtor and MLS memberships and association's prior to affiliation.

  • BMN Real Estate and Referral Services associates are required to maintain their real estate license at their own expense which includes continuing education requirements. Educational requirements vary by state. Please refer to your state licensing commission for current rules. If you need continuing education hours, please reach out to BMN Real Estate and Referral Services for a list of continuing education options.

  • BMN Real Estate and Referral Services will be responsible for ensuring its own errors and omissions insurance policy is up to date. PLEASE NOTE: Errors and Omissions insurance is based on the representation of clients; therefore, contractor shall not be required to carry errors and omissions insurance since he/she is not representing any clients other than themselves.

  • There is no requirement with BMN Real Estate and Referral Services for the referral agent to live in the state where they are licensed. As long as they complete the required continuing education and pay the state renewal fees to keep the Real Estate license in Active status, the Referral Associate may live anywhere they wish.

  • No problem. You can become an active agent and transfer your license back to another real estate company at any time. We will need to complete the appropriate state form and you will pay the required transfer fee to the state. If transfer takes place prior to affiliation expiration, there will be no refunds issued.

  • Let us know and we will release your license back to the state. You will need to contact the state regarding your options regarding licensing status.