LeadingRE Heroes is a marketing program developed by Leading Real Estate Companies of the World (LeadingRE) to attract business by offering a competitive reward to a niche group of consumers. It is our way of giving back to those who serve our communities so selflessly.
WHAT HAPPENS WHEN A BUYER OR SELLER WHO IS ALREADY WORKING WITH ONE OF OUR AGENTS HEARS ABOUT THE PROGRAM?
In order to qualify for the real estate reward, LeadingRE Heroes consumers must register prior to making contact with a real estate agent or must disclose at the beginning of the relationship with the agent that they are interested in this program and provide proof of eligibility based on the broker’s requirements for the program.
WHAT IS THE FEE IF THE LEADINGRE HEROES CONSUMER IS INTERESTED IN A MARKET WHERE THERE IS NO HEROES/MOM BROKER?
As long as rebates are allowed in the state where the client is being referred, a LeadingRE Heroes broker can send a referral to a non-LeadingRE Heroes broker because the destination broker funds the consumer reward, with a portion of the 30% referral fee.
WHEN I REFER A LEADINGRE CONSUMER TO ANOTHER BROKER, WHO PAYS THE REBATE?
The rebate is always due at closing, so the destination broker will fund the rebate, then complete a transmittal form to the origin broker indicating function side commission, gross referral fee (30%) and rebate paid (20%). The net amount due the origin broker is the difference between the gross referral fee and rebate paid, or 10% of the function side commission.
Example: The participating origin broker refers a consumer that purchases a $200,000 home.
Function side commission is $5,000
Destination broker owes $1,500 referral fee to origin broker
Destination broker pays $1,000 rebate (20% of function side commission) to the consumer at closing and pays $500 (balance of 30% referral fee) to origin broker
Typical network fee (20% of $1500 = $300) is waived
Savings to the referring broker = $300
HOW DO I DETERMINE ELIGIBILITY PARAMETERS?
Each brokerage should determine which group of heroes in your local market are eligible to receive the rebate/credit. You may include any or all of the following professionals: Military (active duty, retired, discharged, military family members, Department of Defense civil service employees), Doctors and/or nurses, teachers, first responders (fireman, police, EMT’s).
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