Agent FAQ's
Why should I join the Partners Real Estate Brokerage (PREB) Network?
- It is easy and free for Agents and Brokers that we invite.
- We provide you high quality, vetted, ready-to-buy clients at NO UP-FRONT COST TO YOU. They have paid a Membership fee for us to introduce them to our preferred agent (YOU) so that they may receive a Reward Rebate when they purchase their home using you as their Buying Agent. They are serious buyers and have provided detailed information about the location, price and type of home they want to buy.
- Our Real Estate Concierges and Broker in Charge are available to discuss and assist you for any need that you may have.
- We are giving 50% of OUR referral commission to our member client.
How did you select me as a potential PREB Network Agent?
Our proprietary technology and algorithms screen for Agents that can best serve our Members’ needs. We personally selected you to join our network and be part of our innovative program.
What do I need to do to become a PREB Network Agent?
All we ask is that you agree:
- To fill out our Agent/Broker Information request. (We need this information to validate your license and insurance, contact info and other information that is deemed necessary).
- To a 65% (you)/35% (us) commission split and sign the MLS Broker To Broker Agreement and Buyer Agency Agreement which we provide.
- To provide approval from your Broker if you are an Agent.
- As soon as all this information is verified by us and approved we will send you the client information that is seeking a home in the area that you serve, usually within 24 hours
Why do we charge our Members a fee?
The small membership fee confirms their commitment using the Broker/Agent we introduce them to and enables them to get their Reward Rebate. It ensures that you the Realtor are getting a vetted client with accurate information ready to buy a home, saving you time and money.
Is there a charge for a Broker or Sales Agent to Participate in the Partners Rewards Network?
There are no upfront costs to participate in the Partners Rewards Network. We only ask that you agree to a 65% (you)/35% (us) split on the commissions that you receive at closing. We then rebate half of our commission back to the client as their Buyers’ Reward.
How do I get help signing up if I need it?
Just send us an email or call 413.992.6300.
Are Partners Home Buyer Rebates Available everywhere in the U.S.?
Partners Home Buyer Rebates are available in all states except Alaska, Oregon, Iowa, Kansas, Missouri, Oklahoma, Louisiana, Mississippi, Alabama, or Tennessee. Learn more at the DOJ Website.
What Are the Requirements to Join the PREB Agent Network?
You cannot apply to be part of our network... we choose YOU because we only want the best in the business. Some criteria for us in selecting Brokers:
- A current real estate license in good standing
- You must agree to represent our client as a Buyer’s Agent and act in their best interest
- A minimum of 3 years of active real estate experience
- A strong online presence
- Demonstrated local market knowledge and expertise
- Excellent communication skills and responsiveness
- Represented at least 6 completed transactions in the past 12 months
How PREB makes introductions
When we have matched you with a client you will receive contact information and detailed information about their needs, and an introduction email to you and the client.
These aren’t ordinary leads, our clients can only receive their rebate if they use you as their buying
agent, so they are waiting to hear from you.
You can then follow up directly with the client.
What happens if you are not able to service the client or don't establish a working relationship with the client?
We understand that there could be many reasons for not being able to service a client but because time is of the essence and PREB needs to provide great service to our clients, please let us know ASAP if for any reason you will not be able to serve them.
Are “buyer rebates” legal?
How is the rebate paid?
The rebate is paid to the buyer through escrow as defined on our Terms of Service.
How much is the referral fee?
Our referral fee is 35% based on final gross commission received by you as the Buyer's Agent and is paid through escrow as defined on our Terms of Service.
What happens after you provide the introduction?
Our expectation is that you will do what you do best... take a qualified lead and turn it into a sale!
Is your client obligated to work with me?
We expect our client will want to work with you since it is the only way they will get their Buyer's Reward Rebate is if they close escrow with you as their Buyer’s Agent.
What if I don’t get along with your client? Can I cancel the referral agreement?
You can cancel the agreement but you still have a 2 year referral commission obligation if you later do engage or work with that client.
What is the referral fee and rebate if I am both the buying and selling agent?
PREB only takes a referral commission on the buyer side.
Can you provide a rebate to a seller?
At this time we are only providing buyer rebates only.
Can the rebate be in a form other than cash?
Here are some restrictions and alternatives allowed by the DOJ in different states.
Is the rebate taxable to the buyer?
The IRS has previously ruled that a payment or credit from the purchaser’s agent to the purchaser (i.e. a rebate) represents an adjustment to the purchase price of the home and generally is not includable in the purchaser’s gross income. However tax rulings change may vary from State to State. WE RECOMMEND THAT YOU CONSULT AN ACCOUNTING PROFESSIONAL FOR ADVICE ON YOUR OWN SITUATION
What reporting do you have?
Our partner agents have their own dashboard on the PartnersRealEstateBrokerage.com website.
Can I show the client any property?
Yes! You can show the client any property you think they might be interested in, just as you would do for your own clients. They may have a very specific or just a vague idea of what they want. We hope that you will use all your tools to connect them with the perfect property for them. We expect you to act as a Buyer’s Agent working for our client If you show any of your own listings and act as a dual agency it must be disclosed to the client under the requirements of your local Real Estate Laws.