Referral Rewards Program
Frequently Asked Questions
Q: What is the process for referring a potential agent through the Program?
A: As a Sponsoring Agent, you will need to fill out the referral form found on the Referral Rewards website. When you complete and submit the form, you’ll receive an email confirming your submission. Next, the agent you are referring will receive an email asking them to confirm their interest. You’ll receive a second email once it has been verified that your referral qualifies for the Referral Rewards program.
Q: Is there a limit to how many agents I can refer?
A: No, there is not a limit to the number of agents you can refer nor is there a cap on Referral Rewards Commission Payments. For the first two years after the affiliation date of the Recruited Agent with Coldwell Banker Realty, Sponsoring Agent will earn the equivalent of 2% of the Recruited Agent’s adjusted gross commission income (AGCI) on closed transactions. Beginning the third year, Sponsoring Agent will continue to earn equal to 1% of the Recruited Agent’s AGCI on all closed transactions for as long as you both remain associated with Coldwell Banker Realty.
Q: Can I refer an agent to a Coldwell Banker affiliate company?
A: Yes. A Sponsoring Agent can refer a Recruited Agent to a Coldwell Banker Franchised Office as long as the company is participating in the Referral Rewards Program. In this situation, the Referral Rewards Commission Payment is the equivalent of 1% of the Recruited Agent’s adjusted gross commission income (AGCI) on all closed transactions for as long as you both remain associated with a participating Coldwell Banker company.
Q: Can more than one agent sponsor the same recruited agent?
A: Yes, two agents can co-sponsor the same agent. In this scenario, the two Co-Sponsoring Agents must be identified on the Referral Rewards Interest Form and will equally split the Referral Rewards Commission Payments. If one of the Co-Sponsoring Agents leaves the company, the remaining Co-Sponsoring Agent will continue to receive 1%. After two years, the Referral Reward Commission percentage will be reduced, with .5% going to the remaining Co-Sponsoring Agent.
Q: Can I refer an agent who was previously affiliated with the company?
A: An agent is not eligible to be a Recruited Agent if the agent was affiliated with an Anywhere Brands/Anywhere Advisors company (e.¬¬¬g. a Corcoran®, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA®, Sotheby’s International Realty®, and Better Homes and Gardens® Real Estate brokerage) within six (6) months of their new affiliation date. The only exception is where an agent affiliated with a Coldwell Banker company is relocating to a different geographic area. In such case the affiliated Coldwell Banker agent may qualify as an Eligible Recruit under the Program, if (i) their new Coldwell Banker office location is a minimum of 100 miles from the prior office and the new office location is not owned by the same company as the prior office, and (ii) there are no office locations owned by the same company as the prior office within 50 miles of the new office location.
Q: As a Sponsoring Agent, how will I know if a Recruited Agent closes a transaction?
A: Sponsoring Agents will receive an email from Coldwell Banker notifying them that an eligible transaction closed by a Recruited Agent and they can expect to receive a Referral Rewards Commission Payment.
Q: I recruited an agent through the Referral Rewards Program. If I move my license to the Coldwell Banker Realty Referral Network, am I still eligible to continue receiving Referral Rewards Commission Payments based on the Recruited Agent’s adjusted gross commission income?
A: Yes, if you move your license to the Coldwell Banker Realty Referral Network, you are still eligible to receive Referral Rewards Commission Payments until either you or the Recruited Agent are no longer affiliated with a participating Coldwell Banker company for any reason.
Q: If a Recruited Agent moves their license to the Coldwell Banker Realty Referral Network, am I still eligible to continue receiving Referral Rewards Commission Payments based on their referral commission income?
A: Yes, Recruited Agents who transfer to referral-only status will continue with the program and the Sponsoring Agent will continue to receive program benefits for that individual as long as the Recruited Agent’s license is in referral-only status with the Coldwell Banker Realty Referral Network, or a participating Coldwell Banker Office.
Q: Can I refer an agent who is licensed with the Coldwell Banker Realty Referral Network?
A: No, an agent who places their license with the Coldwell Banker Realty Referral Network is already considered to be affiliated with the company and therefore is not eligible to become a Recruited Agent through the program.
Q: What happens if I or the Recruited Agent disaffiliates from the company?
A: You will no longer be eligible to receive Referral Rewards Commission Payments.
TEAM RELATED
Q: Can I refer an agent(s) to a team?
A: Yes, sponsoring an agent onto a team is permitted through the Program. However, a Sponsoring Agent is only eligible for Referral Rewards Commission Payments on closed transactions for the portion of the commission that is shown or attributed in the Coldwell Banker Reporting System as being paid to the Recruited Agent team member.
Q: If I refer an agent to a team, am I eligible to earn Referral Rewards Commission Payments on the entire team’s production?
A: No, you are only eligible for Referral Rewards Commission Payments with regard to the specific Recruited Agent, not the entire team.
Q: If I am a team leader or team member, can I earn Referral Rewards Commission Payments for recruiting agents onto my own team?
A: Yes! The team leader or team member, as the Sponsoring Agent, is eligible for Referral Rewards Commission Payments on any closed transactions where the Recruited Agent is showing as the lead agent. The team leader or team member will not receive Referral Rewards Commission Payments on closed transactions where the team leader is credited for the AGCI.
Q: If I am the Sponsoring Agent and join the team of my Recruited Agent, will my Referral Rewards Commission Payments from that agent’s AGCI continue?
A: Yes, your Referral Rewards Commission Payments will continue according to the Program Terms.
Q: If I a team dissolves, will I be eligible for Referral Rewards Commission Payments for agents who I recruited to the team?
A: Yes, your Referral Rewards Commission Payments will continue according to the Program Terms.
Q: What if I have more questions about the Referral Rewards Program?
A: Contact your office manager if you have additional questions about the Program.
The Referral Rewards Program is a great way to introduce sales associates from other offices to the benefits of working with Realogy Brokerage Group companies. When I joined Coldwell Banker back in 2007, I was thrilled for the opportunity to be able to let other sales associates know the advantages I had gained by affiliating with this company. It was a great way for me to help recruit professionals that I had worked with previously, and that I knew would be an asset to our office. Another perk of the Referral Rewards Program is that it offers a financial incentive to me as well. It is a win-win situation for all and I would encourage other sales associates to take advantage of the program.
The Referral Rewards Program has been a tremendous benefit to me and my business since joining Coldwell Banker. There are a few top producing sales associates that I helped recruit to the company, and in return, I receive a percentage from their transactions. Every time one of them closes a deal, I get my Rewards check, which is like a mini bonus that I can put back into my business. I see it as a true “rewards” program that shows the company appreciates my input and enthusiasm about bringing in worthy talent.
I love the Referral Rewards Program. I’ve helped recruit several sales associates already simply because I feel Coldwell Banker is the best place to be and offers the most benefits to sales associates in the industry. This program is an added bonus because it has given me the opportunity to earn thousands of dollars in extra income for endorsing my peers, something I would do anyway with or without the program. It’s always a nice surprise when a Rewards check comes in the mail. I like to call it my “fun money.”
We’re here to help answer your questions.
Questions regarding the Sales Associate Referral Rewards Program can be directed to the local office manager.