Earning Commission As a Referral Agent

[bfrisk]

I work for a contractors association in CA and we are looking for a partnership to receive referral fees in order to produce revenue.

I ran into the issue when speaking with partners that we needed to be licensed brokers in order receive a referral fee.

Is there a way an existing licensed agent could register our business with the license number? Would they simply need to register the business and obtain the proper insurance for the business?

Any and all advice is greatly appreciated!

 

[RFMaurone]

You can rent your contacts out, rent out an office to the broker. In a lot of states, you can't pay for leads or closed business, but this is still America, so work within the law and go the rental route. This is not intended to be legal advise nor have I played one on TV. Consult heck, challenge your attorney and let us know if this suggestion works for you.

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[VolAgent]

Get an insurance license. Most states is 50-100 bucks for the individual license and then about the same amount for the business entity.

 

[Dave864]

Did you post this on reddit too?

Varies state by state but in most states for you to get some sort of fee or kickback from a SOLD policy, you have to be licensed in the line of business. Otherwise, they can pay you per referral but not per sold policy. They can pay you a flat fee for the referral but there's usually a dollar limit on that too.