FAQs
Frequently Asked Questions
Who can join your referral-only brokerage?
Anyone with a Florida real estate license. We plan to expan to other states in the future.
What is a referral-only agent?
You refer your clients to a real estate agent representing buyers and sellers, then earn a percentage of their commission.
Am I allowed to earn commissions?
Yes. As a referral agent, your license is still active with the state, so you may share in a commission. Don’t forget, you must disclose your referral fee or commission split with the client.
Can I still represent clients?
NO. We’re a referral-only brokerage. When you transfer your license to us, you CANNOT actively represent clients anymore. You may refer your clients to another real estate agent who takes over the sales process.
Do I still pay desk fees, NAR (state/local), MLS, Key, E&O insurance?
As a referral-only agent, you no longer pay those expenses. Remember, you’re NOT representing clients, so you get to save thousands of dollars every year! All you’re responsible for is our annual membership fee and the state’s biennial license renewal fee.
Am I still required to take continuing education?
YES. An actively licensed agent must meet the continuing education requirements. For a one-stop-shop experience, we will include the CE with your annual membership at no extra cost.
Why would an agent agree to split their commission with me?
Many agents are happy to get more business because it increases their income, which helps them meet their sales goals. They still earn money, even if it’s a slightly smaller commission.
What if I’m buying real estate and want to share in the commission?
You can refer yourself to another agent, but you cannot represent yourself.
What does Park My License earn on my commissions?
We take the greater of a percentage of the payout or a flat fee, whichever is greater. You can review the details in Memberships.
How do I get paid for my successful client referrals?
We send your transaction commission via check, PayPal, ACH deposit, or domestic wire transfer, whichever you prefer. We deduct these rates from your payout, when applicable: check (free), Paypal (free), ACH ($15), domestic wire transfer ($15).
Which types of clients can I refer?
Your friends, family, acquaintances, colleagues, neighbors, or old clients interested in residential, commercial, new construction, land, or an apartment. If they live out-of-state, you can refer the transaction to an actively licensed agent in that state (or country).
Do you offer agent referral fees?
Yes. If you know another agent or broker who would like to park their license with us, you can earn a one-time $25 referral fee. Click here to become an affiliate, non-members are also welcome to apply.
Can I come back to Park My License after I transfer my license to another broker?
Absolutely! If you come back before your membership term expires, log into your membership portal to pay the $75 reinstatement fee (per occurrence). Otherwise, you pay the then-stated annual membership fee.
How do I access my membership resources?
You can log into your membership portal from any device for 24/7 access.
Can I downgrade or upgrade my membership?
Yes. The changes will take effect with the next renewal date. Please contact us no later than 5 days before your renewal date, so we can update your account.
How do I refer a client to another agent?
Use our Client Referral Form in your membership portal. You can refer your client to an agent you know or we can help you find one.