Real Estate Referral Payment Procedure & Policies

At Nexus Real Estate, we understand that handling referred clients requires special attention. This comprehensive guide outlines our proven process for managing referrals from initial contact through successful closing and commission distribution.

Success Pathway:

Tracking your journey with referred clients requires diligence and proper documentation. Our system is designed to help you monitor each milestone, update critical information, and ensure all required documentation is properly submitted.

Referral Excellence:

Your careful management of referred clients directly impacts Nexus Real Estate's reputation and your standing within our referral network. Timely and accurate documentation not only ensures proper commission splits but also strengthens our relationships with referral partners and reinforces our reputation for professional client handling.

After successfully closing a transaction with a referred client, the commission distribution process begins. Proper handling of referral fees and timely processing are fundamental expectations at Nexus Real Estate.

Your Step-by-Step Guide to Managing Referral Transactions:

Our streamlined payment process begins with properly documenting accepted offers in our client portal and maintaining accurate transaction details through closing. Timely and thorough documentation ensures smooth commission processing, supports your perfect Payment Compliance Rate, and strengthens your standing in our referral network.

Step 1: Document the Transaction Immediately:

When your referred client's offer is accepted, take these important actions:

• Update the client's status to "Under Contract" in the Nexus Real Estate client portal

• Complete the transaction details form when prompted by our system

• Fill in all required fields with accurate information about the transaction

• Save the information to initiate our tracking process

Maintaining Accurate Records

Keep your transaction details current throughout the process:

• Regularly update any changes to closing dates or purchase price

• If any transaction details change before closing, promptly edit the information in our system

• Accurate documentation ensures smooth commission processing

From Closing to Commission

After successfully closing a property transaction with a referred client, our payment process begins immediately. Timely and accurate documentation is essential for:

• Proper calculation of referral fees

• Expedited commission processing

• Maintaining your professional standing within our referral network

Step 2: Finalizing and Processing Payment:

When your referred transaction is ready to close, congratulations! You have two convenient options for handling the referral fee payment to Nexus Real Estate.

Option 1: Payment Through Closing Service:

• Before closing, update the final transaction close date, price, and commission details in the on the Update Deal To Under Agreement/Pending Section on the Nexus Referral Tracker.

• Request the Referral Fee Payment Instructions & Request Form from your Nexus™ Referral Partner Coordinator which you will receive completed within 24 hours and include it in your closing documents.

• Add the referral payment information to your Commission Disbursement Agreement or Demand form for the transaction.

• Verify that the closing service properly processes the referral payment according to the instructions on the Referral Fee Payment Instructions & Request Form to ensure proper credit for timely payment.

• After closing, finalize the transaction in the Nexus Referral Tracker by:

  • Logging on to the Nexus Referral Tracker

  • Begin Closed Deal Compliance

  • Answer all the questions regarding the Referral

  • Uploading the Closing Statement for the property

  • Clicking "I Agree" to complete the transaction record

Option 2: Direct Payment After Closing:

• Access your Referral tracker Questionnaire and answer, and select Begin Closed Deal Compliance.

• Update all transaction information with the final close date, price, and commission amounts.

• This will let us know the transaction status to "Closed" and then upload the closing document showing commission proof on the referral tracker.

• Click "I Agree" to finalize the transaction - no signature required!

• You will receive the Referral Fee Authorization form from your Nexus™ Referral Partner Coordinator within 24 hours and provide it to the person responsible for submitting payment to Nexus Real Estate.