- First, The Referral Project refers hand selected and well matched real estate agents (Realtors) to real estate consumers (buyers and sellers).
- Second, when the transaction closes and commissions are paid, the referred Realtor shares a small percent of their commission with The Referral Project.
- Finally, The Referral Project donates 50% of their share of the commission to a 501(c)3 nonprofit public charity designated by the buyer or seller when the agent referral is made.
This project was conceived to achieve two important objectives:
- Improve the consumer's real estate experience by matching the RIGHT agent with buyers and sellers and,
- Create a simple method for delivering significant donations to nonprofit charities
anywhere in the United States or its territories.
This is a win-win for real estate consumers and nonprofits - and the service is FREE!
Who are the referred agents?
referred agents are productive full time professionals with at least
five (5) years of experience. We do not maintain a list of agents who pay a premium to be part of our network. Our approach is more hands-on; we
seek out agents to fulfill each individual buyer or seller's needs. The Referral Project refers ALL transactions; we do not handle any of these transactions.
Who makes the donation?
The donation comes from The Referral Project; 50% of The Referral Project's earnings are donated to a nonprofit designated by the buyer or seller.
Who picks the nonprofits?
The consumer selects the nonprofit. We work directly with many nonprofits. The consumer can chose one of those nonprofits if they wish, or they can select just about any 501(c)3 charity in the United States recognized with nonprofit status by the IRS.
Does this cost the real estate consumer or nonprofit anything?
are no costs to the consumer (buyer/seller) or nonprofit. All
operating costs and donations are covered by The Referral Project's (TRP) real estate
commission share. The commission is not higher if you use a real estate
agent referred by TRP.
What is the donation formula?
The amount varies because it is based on the commission, which is negotiable. The average donation is approximately $375 per $100,000 in sales price. For example: $500,000 sales price = $1,875 donation.
Can any real estate consumer (buyer or seller) do this?Yes, anyone anywhere can use The Referral Project to find the RIGHT agent and to fund a nonprofit charity of their choice.
Why hasn't this been done before?
Good question! We asked ourselves that question when we started in 2012 and couldn't come up with a reasonable answer. So we asked a second question: Why not us and why not now? When we launched in 2012 there were no other companies donating commissions in this manner. There are now at least six organizations and the list is growing! Good ideas catch on quickly.
Can unique fundraising ideas like this really work?
Yes, if buyers and sellers think strategically when planning their real estate transaction. The Referral Project has identified an idea that is easy and effective. People buy and sell real estate all of the time. The secret is in networking: someone somewhere in a social network is buying or selling real estate. Tapping into that network will produce significant funding for nonprofits.
How much real estate is sold in the United States annually?
National Association of Realtors reports real estate sales figures for 2012: 4.65 Million existing units were sold with an average value of $180,000 (and they report this was a down year). Total estimated volume: $83 Billion! This does not include new construction or commercial sales. A tiny percent of these sales would create significant donations for nonprofits across the country.