Is R.E. 1790 Right For You?
Looking to retire?
Ready to take on a new career?
Need to take a break for financial reasons?
If so, then a holding company is the perfect solutions! You don't have to give up your ability to make money in real estate, but you also can let others do the work!
What Is A Holding Company?
R.E. 1790 is a holding company that is a licensed and registered Ohio brokerage that does not belong to the local Multiple Listing Service, State or National Associations. Ohio Licensees affiliate their real estate license with R.E. 1790 Holding to keep their license in an “Active” status with the state licensing authority, minimizing the cost of license maintenance but retaining the ability to earn referral compensation. Having your license in a holding company does not permit you to conduct in any brokerage-related or real estate activities but allows you to receive referral fee compensation. Ohio Licensee's are required to renew their license according to the State of Ohio which includes taking the required continuing education required. We are able to refer to any brokerage in any state, allowing you to refer for relocation, family moves etc.
How It Works
Submit Referral
Client Connects w/Agent
You Get Paid
Compete the Form under "Submit A Referral". This starts the process of us gathering the information and searching our database for the best agent for the needs of the client. You can also select the agent of your choice if you already have one in mind!
We will match your client with the best agent in the industry or the one you personally hand picked for them.
Once the transaction closes, you will receive a 25% referral fee. It's just that easy!
The Benefits Of A Holding Company
You don’t have to pay any monthly fees, Board dues, MLS fees, Supra fees, Errors and Omissions insurance, desk fees, or any other “nickel & dime” fees. You can keep your license active that you’ve worked long and hard to obtain and continue to use it to generate income while you pursue projects, go on maternity leave, change careers or just to take a well-deserved break.
FAQs
What kind of real estate company is R.E.1790 Holding We are a licensed real estate brokerage firm set up as a "Holding Company" where you can "park" your license. It allows us to hold your license so you can keep your license "Active". When you affiliate with our company, your license will be active with the Ohio Division of Real Estate. We abide by the Ohio State Laws and Regulations.
What are the advantages of "parking" my license with you You will not have to pay any monthly fees, board dues, MLS fees, lockbox fees, E&O insurance fees, desk fees or any other "nickel and dime" fees. You can keep your license active that you have worked so hard to obtain and continue to use it to generate income while you pursue other projects, change careers, take a break, or retire.
Who can join your referral company Any Ohio real estate licensee living anywhere in the U.S. or the world with an active, an inactive, or a new license.
Is there an application fee or a registration fee to join No, we do not charge a fee for applying or registering. You only pay a small annual fee for us to hold the license.
What is the annual fee for holding my license We charge an annual fee of only $125. It is due at the time of joining but pro-rated till the end of December. Everyone is billed for the year in January and it is due January 15th of each year.
How do I make money and get paid compensation You refer someone who wants to buy or sell real estate to an agent of your choice in any real estate company or you can ask us to place that person with an agent. After the sales transactions has closed, we receive a referral fee and then we pay you for your portion of the compensation.
How is the compensation split with me From the referral fee check we receive (the amount that was pre-negotiated), you keep 95% and we keep 5% for the administrative/broker fee.
How do I explain my role to a potential buyer or seller Let them know that you are a "Referral Agent" who can refer them to a qualified agent that you feel would best represent them. As a real estate professional you know the agent who could best take care of their real estate needs.
Will I still have access to the MLS and Lockbox Key access No. As a referral agent, you are not allowed to actively practice real estate. You will not be showing properties, listing properties, suggesting a listing price or take part in any sales or leasing transactions or give advice about such activity.
What is the referral coverage area I can refer to Anywhere in the United States
How do I submit a referral to an agent Once your license has been transferred to R.E.1790 Holding, you will come to this website and click the "Submit A Referral" Menu button and complete the online form. We will take it from there!
How soon will I receive my compensation after it closes As long as we receive the check within 3 business days of the closing, we will pay you in 10 Business days to allow the funds to clear from the brokerage paying the referral fee.
How to do I sign up with R.E.1790 Holding To sign up, click the "Transfer Your License" Menu button, complete the form and we will send you the paperwork to complete to finalize the transfer.
Do I need Errors and Omissions Insurance (E&O) No. Since you do not actively practice real estate, it is not required.
Do I still need to take continuing education courses Yes. It's a requirement of the Ohio Division of Real Estate. Although you do not actively practice real estate while in a holding company, you still need to maintain an active license to refer transactions and receive compensation
Do you deduct taxes from my earnings No. You are still an independent contractor and will sign an independent contractor agreement with us. You will receive a 1099 form to report your earnings to the Internal Revenue Service if you earned in excess of $600 in referral fees in a tax year.
Can I go back to being a full time agent Yes. Parking your license with a holding company can be a temporary or long-term. You can switch back to a full time practicing salesperson at any time. Just contact us and we will walk you through the process.
