Frequently Asked Questions - Brokers
A. You must register in order to post Anonymous Buyers or send listing information to Buyers. Your personal information will not be shared.
A-1. By Registering your Buyers anonymously you add several NEW TOOLS to your arsenal; Tools that will be working for you 24/7 helping you find all possible Listings that fit your Buyer’s wants/needs.
A-2: For your Sellers, this substantially increases access to a huge pool of Active Buyers, updated 24/7, specifically interested in your Listings. Simply send your Listings to Buyers who have stated interest is the type of property you have listed.
A. There is no cost for Brokers to register and post Buyers anonymously or contact Buyers. In the event that a transaction occurs through contacts made through B4B a referral fee will A. There is no cost for Brokers to register and post Buyers anonymously or contact Buyers. In the event that a transaction occurs through contacts made through B4B a referral fee will be due to B4B. ONLY in the event that a transaction occurs through contacts made through B4B, is a significantly reduced referral fee due to B4B.
Example:
- As a Buyer's Broker you post your buyer's anonymous profile for a ranch in the range of $800,000-$1,200,000.
- A listing broker finds your buyer's profile and sends you a link to their ranch listing that matches your buyer's criteria. (You have not had any prior contact with this broker in regards to this buyer.)
- Your Buyer closes on the ranch at a price of $1,000,000.
- B4B would be owed the following referrals fees. (See calculations below based on the selling price of $1,000,000, 6% commission split between Listing Broker and Buyer's Broker)
Listing Broker commission = 3% X $1,000,000 = $30,000
Referral to B4B from Listing Broker = 10% X 30,000 = $3,000
Buyer's Broker Commission = 3% X 1,000,000 = $30,000
Referral to B4B from Buyer Broker= 10% X 30,000 = $3,000
The referral fee is paid only if B4B facilitated the contact between the Listing Broker and Buyer Broker.
A. You can sign up under the broker membership as an agent as long as you are licensed. Many states call all licensees brokers and have done away with the agent classification and therefore B4B does not distinguish between brokers and agents.
A. B4B is a paid a referral fee of less than half of the typical industry referral fee. The referral fee is paid only when a deal facilitated by B4B is closed (Buyers 4 Brokers, LLC is a licensed real estate brokerage in the state of Colorado).
A. Buyers for Broker, LLC is a licensed Real Estate brokerage in the state of Colorado. Therefore you can pay B4B in the same manner you would pay a referral fee to another Broker.
A. The Referral Fee due B4B following any successful closing, is generally about half that you will find in the normal Referral market, SO finding and following up on more leads than ever is also easier than ever AND produces more commission in your pocket for every transaction.
A. You can search the site without being a member however to post Buyers or send listing information to Buyers you must be a registered member.
A. B4B is still entitled to a commission because B4B facilitated your contact with the Buyer.
A. If you have already been in contact with the Buyer or Buyer Broker that you contact through B4B, then you have ten days to notify B4B and register this prior contact. If you do so within the 10 days after initial contact, you will be relieved of any referral obligations.
A. You cannot contact Buyers or Buyer’s Brokers directly. Buyers and Buyer’s brokers have your contact information once you send them a listing and if the listing interests the Buyer then they will initiate contact.
A. Make sure that your Brokerage information is completed in your profile. Then when you find a Buyer who is requesting Buyer representation click "Offer representation", fill out any additional information required and click submit.
A. When you find a Buyer looking for a property that matches one of your listings, simply click “Send Listing”, fill out appropriate information and submit. B4B will check to ensure your listing is a possible match and forward your listing information to the Buyer.
A. Yes, and that is one of the GREAT STRENGTHS of the site: the public may post themselves as a Buyer in order to have Brokers send Listing information to them; and allow them to have Listings find them without having to search the web randomly.
A. Yes, you will still owe a referral for any transaction completed due to a contact facilitated through B4B. This includes, whether the Buyer purchases the listing you send them, another of your listings or a listing of another broker. Simply,if B4B puts you in contact with the Buyer and a sale completes with that buyer, B4B is entitled to a referral fee.
A. Your registration does not have expiration. You do not have to renew your registration and can cancel at any time.
A. Just like normal…only you will owe B4B a referral if you do a transaction facilitated by B4B.