Apex Prime Referrals FAQs
What does it cost to become an Apex Prime Referral (APEX) Agent?
Annual membership is $125 and is renewed each January. There are no additional fees for Multiple Listing Services or Board of Realtor memberships.
Do I Need Errors and Omissions Insurance?
Are there Real Estate Commission Requirements?
APEX Referral agents must renew their license.
What is the referral commission I can expect to receive?
Typically, APEX receives 25% of the active associate’s commission. An APEX fee of 5% based on the active agent’s commission is paid to APEX and the rest goes to you. The actual percentage you receive is agreed upon by you and the active sales associate.
Are there restrictions on how I ask for referrals?
No. An APEX Associate can ask for referrals, contact people you know, and assist in contacting your active agent partner to begin the listing or purchase process.
Does it matter which state holds my license?
APEX Associates can be licensed in New Jersey However, you can generate leads from anywhere in the world!
What am I not allowed to do?
- Solicit already listed property owners
- Use the MLS or Lockboxes
- Sit Open Houses
- Expect a referral commission “after the fact” if the agent has been working with the client before the referral lead was placed.
- Discuss commission percentages
- Qualify the lead – simply get the basic information for the referral to be placed
- Provide the client with advice – that is provided by the active agent
How will I get paid?
Once a Sales Agreement is signed, your partner agent notes your referral fee in the commission breakdown when they submit the paperwork. After settlement a check will be issued directly to you by APEX in that amount.
For additional information, please go to the New Jersey state licensing website.