Who Should Join the NR Referral Network?
Licensees who do not currently practice the buying or selling real estate but wish to keep their license active with the state of Illinois. Brokers who would like to be rewarded by placing referrals and receiving a fee. Licensees who have not yet selected a sponsoring broker.
Can I Still Sell Real Estate to My Family & Friends?
No. By joining the NR Referral Network, you are agreeing to only do referral business. So, while you can refer your family & friends to other Brokers, placing a broker’s license in the NR Referral Network takes your license out of active REALTOR® practice.
How Does This Work?
Complete a Referral Information Form about the client you are sending to the REALTOR® who will, in turn, complete the transaction.
Then, submit it to NR Referral Network. The referral is placed with your selection of a real estate company and the named broker.
What is the Process?
The referral is given to the selected Managing Broker.
The NR Referral Network Broker will designate where they want their referral placed. Should you not have a company and Broker to refer to, NR Referral Network will place it with an appropriate company and broker.
A referral fee with the broker will be negotiated and once accepted, the referral information is given to that broker and to you.
Once the transaction has closed, the negotiated referral fee will be distributed as outlined in your Independent Contractor Agreement.
Do I Still Pay MLS Fees? Association Dues?
No, you don’t. You will no longer have access to the MLS and while you do have an Illinois real estate license, you are technically no longer a member of the National, State, or Local REALTOR® associations, and consequently pay no dues.
Will I Still Need to Complete Continuing Education Requirements?
Yes, those are State requirements for every real estate license holder. You will need to renew your license in the appropriate year as well. The Managing Broker of the NR Referral Network can help you with questions about your CE requirements.
What If I Want to Move My License In or Out of NR Referral Network?
It is the same process you would use to move in or out of the network. Notify the Managing Broker of NR Referral Network that you are making a change, and the state will be notified.
What’s the Cost?
The annual flat-fee for holding your license in the NR Referral Network is $99.00 — based on the calendar year beginning in January. (The cost will be prorated during your first year, depending on when you join.)
You will also have to pay a separate transfer fee to IDFPR for moving or placing your initial license.
If currently being sponsored, and you are in good standing, the cost should be $25 to transfer your license.
If you’ve not yet been sponsored, the cost will be $125.
If this is your initial license — you’ll need your AMP Exam Scorecard & pre-licensing course transcripts.
How Do I Join the NR Referral Network?
To get started, simply complete the online application by clicking link below: