FREQUENTLY ASKED QUESTIONS
Q: What is Online Agent Referrals?
A: Online Agent Referrals, LLC (OAR) offers an online referral exchange program to qualified and experienced Affiliated Firms/Brokers/Agents throughout the United States. [Top]
A: There are no upfront fees or registration costs. [Top]
Q: Do I have to join to take advantage of the OAR Network?
A: No, Prospect Referrals are accepted from any party. However, only licensed Real Estate professionals may be paid referral fees, and unaffiliated licensees will receive only 50% of the referral fee payments made to Affiliated Brokers/Agents. To take advantage of the full fee structure, you must join. [Top]
Q: How does my firm participate?
A: Brokers-In-Charge complete a single, one-page Agreement to permit use of the network by Brokers/Agents of their firm and to approve the OAR referral fee structure. [Top]
Q: How do individual brokers and agents get on board?
A: Individual Broker/Agents wishing to participate complete a single Affiliated Broker/Agent Agreement consistent with the Firm Agreement which governs their participation. Subsequent to enrollment, Brokers/Agents may submit Prospect information to the network through a simple on-line process. [Top]
Q: What about my obligations after I join?
A: Brokers/Agents are under no obligation to use the OAR network and incur no costs whatsoever unless they use the network to earn referral fees. Participation is voluntary and self-enforcing, since no income is derived from referrals without participation. [Top]
Q: My firm already has an internal referral network, plus I have a couple of longstanding relationships that I use for referrals. Can I still join OAR? Won’t there be a conflict?
A: There is no conflict. You may join and use OAR entirely at your discretion. It does not matter if you are already in a network, since you choose when, where and under what circumstances you will use the OAR network. [Top]
Q: What would be my possible sources of income if I participate?
A: Affiliated Firms/Brokers/Agents potentially receive income from three sources:
Q: How do I initiate a referral to OAR for a potential customer?
A: Any licensed Broker/Agent anywhere may provide specific, preformatted on-line prospect referral information to the OAR network in order to earn referral fees. This includes prospect contact information, a description of the desired property, financial
pre-qualifications, and other information (see Prospect Referral).
After reviewing for completeness, OAR relays this information to other Affiliated Brokers/Agents on the network for follow-up. [Top]
A: In exchange for receiving referrals of these highly desirable potential buyers, Affiliated Brokers/Agents pay referral fees on closed sales that are the direct result of network leads. OAR retains a portion of these fees as compensation. We only profit if you profit. [Top]
Q: What other efforts are made to generate referrals?
A: In addition to referrals originating from Affiliated Broker/Agents, OAR may initiate referrals to Affiliated Brokers internally through independent marketing efforts, including direct mail, internet promotion, mass media and presentations to clubs and organizations. [Top]
Q: What are these Affiliation Agreements?
A: BICs must execute Affiliated Firm Agreements before their Broker/Agents are eligible to join the network. If Broker/Agents choose to participate, their participation is subject to executed Affiliated Broker/Agent Agreements consistent with those signed by their firm. Executed documents must be accepted by and on file with OAR before active participation is available. [Top]
Q: Is my relationship with OAR negotiable?
A: No, all Affiliated Brokers/Agents adhere to the same policies and procedures and the same commission structure. [Top]
Q: May I withdraw myself or my firm from the OAR network after I join?
A: Yes. All agreements may be unilaterally cancelled at any time by written notice by either party; however, commissions from sales from prior referrals remain payable. [Top]
Q: How are referral fees calculated and when are fees paid?
A: Through execution of the above referenced agreements, Affiliated Firms pre-approve payment of a referral fee of .75% (.0075) of the closed sales amount for Prospects directly referred to a Broker/Agent of the firm through the OAR network, said fee to be paid to OAR at closing. Affiliated Firms also agree to accept a referral fee of .50% (.0050) of the closed sales amount for qualified Prospects referred to the network by a Broker/Agent of the firm, said commission being due to the firm from OAR within 30 days of closing. [Top]
Q: My firm has a complicated system for splitting commissions in-house. How are OAR referral fees impacted by this?
A: Referral fee splits between participating firms and its brokers and agents are a matter of internal policy and do not bear on the calculation of the fee paid to or received from OAR. [Top]
A: The difference in commissions payable and accepted by Affiliated Firms/’Brokers/Agents is the amount retained by OAR for development and maintenance of the network. [Top]
Q: Can I specify which broker or agent my potential customers are referred to?
A: Yes, all referrals are made first and foremost to brokers or agents specified by the referring agent. [Top]
Q: How will OAR decide which brokers or agents receive non specified referrals?
A: Affiliated Brokers/Agents are assigned a geographical area of coverage based on the areas in which they work. Unspecified referrals received are assigned to Affiliated Brokers/Agents based on a set of criteria that will result in the highest likelihood of customer satisfaction, including geographic areas of interest, broker/agent expertise and past participation in the OAR network. [Top]
A: Many areas and prime locations will be covered by multiple Firms/Brokers/Agents. OAR will generally select Affiliated Firms in the local area to receive referrals based on the following criteria:
1. As noted above, referring agent preference will be the initial determinant of selection.
2. The firm that is geographically most suited to meet the needs of the customer. OAR will always keep the interest of the real estate buying public as the focus of our business and paramount in our efforts.
3. The firm with the most narrowly described “Area of Interest” as selected on the Firm Affiliation Agreement. This will help to ensure that the prospect is referred to the firm having the most knowledge in the area of customer interest.
4. The number of instances where commissions are paid by an Affiliated Agency through the network as a result of successful sales to referred clients or customers.
5. The number of referrals received by OAR from the Affiliated Firm (whether or not they result in sales).
Thus, the more often an Affiliated Firm/Broker/Agent participates on either side of a network referral transaction, the more often that Firm is likely to be selected to receive referrals for their particular area versus other Affiliated Firm/Brokers/Agents in the same area. [Top]
Q: What is my legal relationship to OAR?
A: Affiliated Brokers/Agents are recognized as independent contractors and as such may choose to participate or not to participate in the network at their sole discretion. [Top]
Q: How do I know that all OAR network participants will perform as promised?
A: Online Agent Referrals, LLC relies on the integrity of our Affiliated Firms/Brokers/Agents. Integrity is an absolute cornerstone of our business philosophy and a primary benchmark for judging success. We trust and expect that our business partners will likewise uphold the same high standards of conduct that we expect of ourselves. Referral fee obligations are the responsibility of each and every Affiliated Broker/Agent and no follow up by OAR should be required. Any broker or agent not willing to abide by these high standards in theory and in conduct should not join our network. [Top]
Q: Does the entire program rely on the integrity of Affiliates?
A: No. As a service obligation to our Affiliated Firms and to maintain the integrity of the Network, OAR will periodically and regularly follow up with referred clients to measure their satisfaction with the process, to gauge their satisfaction with the professionalism and effectiveness of the Firm/Broker/Agent to whom they were referred and to ensure that referral fees are paid on closed sales as agreed under Firm and Broker Affiliation Agreements. [Top]
Q: What if I have concerns about a particular transaction?
A: All Affiliated Firms/Brokers/Agents will be given the opportunity upon request to examine information on file with OAR regarding specific transactions to which they are or were a party. [Top]
Q: Will the OAR program always look the same?
A: Online Agent Referrals, LLC retains full discretion as to the participation of Affiliated Firms/Brokers/Agents and the operation of the Affiliation Program and reserves the right to amend policies and procedures at anytime as considered necessary at it’s sole discretion. As mentioned earlier, all participants may withdraw from the network at any time they desire should they consider program changes to be unsatisfactory. [Top]
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