Global Referral Policies and Procedures

1) INTRODUCTION

The G&B Global Referral Network provides referral income to agents licensed in the network. This goal is accomplished through the Referral Associate whose only objective is to refer prospective buyers and sellers of real estate to the G&B Global Referral Network, who will communicate the referral to the appropriate receiving Broker. A referral is a lead consisting of detailed information about prospective buyers or sellers which is communicated to the G&B Global Referral Network and acted on by the receiving Broker.

2) GUIDELINES

A. G&B Global Referral Associates will refer all buyer and seller prospects to the G&B Global Referral Network for a fee upon the closing of a real estate transaction. Referral fees can be earned only if the prospect closes through the office they were referred to and a fee is received by G&B Global Referral Network.

B. G&B Global Referral Associates must maintain and active real estate license in good standing with the Kansas Real Estate Commission.

C. G&B Global Referral Associates shall comply with all laws, rules and regulations, including the Kansas real estate licensing laws and those of any other applicable governing entities.

D. G&B Global Referral Associates are limited in the practice of real estate to providing referrals only. G&B Global Referral Associates will not show properties, sign listings nor prepare contracts of sale or lease.

E. G&B Global Referral Network, Inc. will be a non-Realtor organization.

F. G&B Global Referral Network Associates will be charged a $50.00 initial administrative fee. Annual fee of $50.00 will be billed in December and due by January 15th. The annual fee will be waived for the following year by submitting two (2) qualified referrals or having 1 closed referral through the network in the previous calendar year.

G. G&B Global Referral Network Associates will be paid 50% of the referral fee received by G&B Global Referral network after royalties, if any.

H. G&B Global Referral Network Associates will be paid 50% of the referral fee received by G&B Global network after royalties, if any.

3) PROCEDURE – PLACEMENT OF REFERRALS

A. REFERRING ASSOCIATES OBLIGATIONS

1) The G&B Global Referral Associate should obtain all pertinent information about each prospect to assist the Receiving Agent in fulfilling the prospect’s real estate needs.
2) A referred prospect must be aware and agree to be contacted by a Real Estate Agent.

3) All referrals are to be phone, mailed or faxed to G&B Global Referral Network.

B. UNACCEPTABLE REFERRALS: The following referrals cannot be processed:

1) Referrals that do not contain complete information on the referral form.
2) Listing referrals for properties with an estimated value less than $30,000
3) Referrals on prospects who are unaware or did not request Agent contract. Contract is required between the Referring Associate and the prospect.
4) Referrals to bring about a property exchange, unless a commission is generated.
5) Referrals on rental prospects.
6) Referrals on prospects that have already been referred. The first referral submitted to the G&B Global Referral Network will be considered the valid transaction. (G&B Global Referral Network reserves the right to make a final decision.)

C. G&B Global Referral Network will ensure the referral is place promptly with a Broker/Agent who can best service their needs. The Referring Associate may request a specific Broker/Agent to service the prospect, but the ultimate placement will be at the discretion of the G&B Global Referral Network or Receiving Broker to ensure the prospect receives the highest quality service.

D. A confirmation of the referral will be sent to the Receiving Broker and Referring Associate.

E. If a Broker/Agent is already working with the referred prospect, the Referring Associate will be notified as soon as possible that the referral is rejected. Referring Associates can earn a referral fee on a prospect only if that prospect sells or buys with the Agent assigned to the prospect. If the prospect had prior contact or buys or sells with another Agent, no referral fee will be paid to the Referring Associate.

F. If a client wants to buy and sell property, 2 separate referrals must be placed by Referring Associate for a fee to be due on both transactions.

4) FOLLOW-UP

A. Referring Associate should follow-up with the assigned Agent and the prospect to ensure that appropriate levels of service are being provided.

B. Any changes in the prospect’s status should be reported to the G&B Global Referral Network. Should the prospect decide to look in other areas, the Referring Associate must advise the G&B Global Referral Network to reassign the referral to an appropriate office. Should the prospect buy from a Broker/Salesperson other than to whom they were referred, a referral fee will not be due.

C. Relay any “no contact complaints” (i.e. contacts not made within the specified time frame) or unsatisfactory contacts to the G&B Global Referral Network immediately.

D. Prompt response is required whenever a Receiving Broker/Salesperson requests help or more information to facilitate service to the prospect.


5) TIME LIMIT OF AN ACCEPTED REFERRAL

A. A buyer referral is valid for one year to obtain a signed sales agreement.

B. A seller referral is valid for one year to obtain the listing.

C. With the permission of prospect, an Associate may extend the referral before the time limit expires. The referral extension must be registered with the G&B Global Referral Network.