How do you set my referral fee?
It is a percentage of the commission we earn on each closing, from 15% up to 40%. Where you fall depends on how involved you want to be and the size of your book. We settle it before anything is signed and put it in the agreement.
I'm moving out of state. Can I still be paid?
Yes, as long as you hold an active license and the fee goes through a licensed brokerage. Many brokers keep their Colorado license on a referral basis for exactly this reason. We will walk through the right setup for your situation.
How does the property management share work?
You receive a percentage of the management fees we collect on the owners you bring over, for a term we agree on up front. The percentage and the term depend on the number of homes and how long the owners have been with you.
Who pays me, and how?
Corken + Company pays your brokerage, and your brokerage pays you under your own arrangement. Colorado rules do not allow a brokerage to pay an individual agent at another firm directly.
How long do I earn on each client?
Each client gets their own term, starting the day you introduce them. We size it to their actual plans. A commercial tenant whose lease ends in three years, for example, gets a term long enough to cover that renewal. When one client's term ends, your other clients keep theirs.
Does repeat business count?
Yes. Purchases, sales and leases a referred client closes with us during their term all count. A client who sells, buys a new home and then picks up a rental pays you three times.
What about deals I'm working on right now?
That is up to you. Some brokers close out their open deals first and refer the rest. Others bring us in to co-broker live deals from day one.
I'm leaving real estate to stay home with my kids. What should I do with my license?
Keep it active and place it with a brokerage that works on referrals. You won't be showing homes or running a business, but when a friend, neighbor or past client needs to buy or sell, you send them to us and earn a fee when they close. If you decide to sell full time again later, your license is ready.
Where can I hang my real estate license in Colorado if I'm not actively selling?
With us. Brokers who are retired, between careers, raising a family or living out of state can place their license with Corken + Company on a referral basis. You keep your license in good standing and earn on the clients you refer, without the overhead of a full time practice.
Should I put my license on inactive status instead?
You can, but an inactive license generally can't earn commissions or referral fees. If there is any chance you will refer a client in the next few years, keeping it active with a referral focused brokerage is usually the better choice. Check the Colorado Division of Real Estate for the current rules on your license.
Can I still make money in real estate without selling?
Yes. Referral fees on the clients you send us, plus a share of property management fees if you bring over rental owners. Plenty of brokers earn meaningful income each year without holding a single open house.
What happens to my clients when I retire?
Without a plan, they usually drift to whichever agent reaches them first. With this program you introduce them to our team yourself, they keep getting good service, and you are paid when they buy, sell or lease during their term.
Can I sell my real estate book of business?
Most agent books aren't purchased outright, because the value lives in your relationships. Our program pays you over time as your clients transact, which usually adds up to more. Property management books are a little different, and we can talk through how a management transfer is valued.
Do I still need continuing education to keep my license active?
Yes. An active Colorado license comes with continuing education requirements. We will remind you of your deadlines and point you to the courses that count, so your license stays current while you focus on everything else.