Program Overview

What is the G&B Global Referral Network?
It is a network within which individuals place their real estate licenses and receive fees for closed customer referrals. The contractual agreement limits members from providing real estate services and is a condition of the association with the G&B Global Referral Network. The G&B Global Referral Network is licensed as a separate entity and registered in the state with a Designated Licensed Real Estate Broker.

OBJECTIVE:
The objective of establishing the G&B Global Referral Network is two-fold.
1. To generate additional business in local marketplace referrals as well as national and international referrals
2. To provide a cost-effective structure for Coldwell Banker Griffith & Blair to maintain relationships with licensed agents, who for whatever reason do not want to actively sell real estate but wish to maintain their license in an active status.

POTENTIAL BENFITS

TO FULL TIME AGENTS:
1. Help agents work smarter not harder. Have referral associates spend time developing leads.
2. More time can be spent doing direct customer servicing rather than lead generation.
3. Agents can create/recruit a “buddy” relationship with a referral associate to expand their overall business base.
4. MORE INCOME.

TO REFERRAL ASSOCIATES:
1. A cost effective way of retaining/maintaining a real estate license
2. A source of revenue
3. A avenue to keep abreast of industry changes and practices


IS IT FOR YOU?:
Who should be a member?
1. Inactive licensees
2. Terminating associates
3. Licensees not ready or suitable for full time sales
4. Retiring licensees
5. Licensees transitioning out of active sales, but interested in retaining a license and supplementing their incomes. (Without losing to competition)
6. Past, current or potential customers who are licensed
7. Licensees who may have a license as part of their profession but do not sell residential real estate (i.e. lawyers, appraisers, in-house corporate real estate managers, relocation personnel at corporations)

ENSURING SUCCESS
1. Talk about the referral network
2. Encourage sales associates to identify and recruit potential referral associates
3. Set referral and closing goals enhanced with contests or bonuses.
4. Offer support and guidance on how to prospect for leads, ask for a referral and how to stay in touch with follow-up skills.
5. View referral associates as an additional way to expand into more network groups for broader business development
6. Deliver excellent service to all referred customers

THE PREMISE OF SETTING UP A REFERRAL NETWORK
1. Each licensee places two referrals per year
2. Anticipate 20% closing ratio
3. Average sales price per transaction is $100,000
4. Receiving Broker pays a 25% referral fee

HOW DOES IT WORK?
1. Members pay $50.00 dues annually. This fee will be waived for the following year after and associate has place two (2) qualified referrals or has 1 closed referral through the network in a calendar year.
2. Referral associates provide customer leads within the local area as well as national and international referrals.
3. Referral associates will receive referral fees only on closed leads.
4. Referral associates will be paid 50% of the referral fee received.

OUR STAFF FUNCTIONS:
1. Licensing and membership processing; contract maintenance
2. Legal requirements
3. Referral placement confirmations and follow-ups
4. Referral fee collection and payments
5. Materials/support pieces and Membership mailings
6. Training materials
7. Administration, including record keeping, 1099’s, errors and omission insurance