NRS Referral Services, LLC | FAQ
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FAQ

Frequently Asked Questions

What does it cost to become an NRS Referral Agent?

Annual membership is $150 and is renewed each January. There are no additional fees for Multiple Listing Services or Board of Realtor memberships.

Do I Need Errors and Omissions Insurance?

No. (For previously licensed Fox & Roach sales associates, E & O insurance is provided for transactions generated while a full licensed Fox & Roach sales associate, even after you have moved your license to NRS.)

Are there Real Estate Commission Requirements?

NRS Associates must renew their licenses and complete mandatory continuing education courses as required by the state of licensure.

What is the referral commission I can expect to receive?

Typically, NRS Associates receive 20% of the active associate’s commission. An NRS fee of 5% based on the active agent’s commission is paid to NRS. The actual percentage you receive is agreed upon by you and the active sales associate.

Are there restrictions on how I ask for referrals?

No. An NRS Associate can ask for referrals, contact people you know, and assist in contacting your active agent partner to begin the listing or purchase process.

Does it matter which state holds my license?

NRS Associates can be licensed in Pennsylvania, New Jersey or Delaware. However, you can generate leads from anywhere in the world!

What am I not allowed to do?

  • Solicit already listed property owners

  • Use the MLS or Lockboxes

  • Sit Open Houses

  • Expect a referral commission “after the fact” if the agent has been working with the client before the referral lead was placed

  • Discuss commission percentages

  • Qualify the lead – simply get the basic information for the referral to be placed

  • Provide the client with advice – that is provided by the active agent

How will I get paid?

Once a Sales Agreement is signed, your partner agent notes your referral fee in the commission breakdown when they submit the paperwork. After settlement a check will be issued directly to you by NRS in that amount.