FAQ
Q: What is a Referral Associate?
A: A Referral Associate is a licensed real estate agent whose services are limited to referring clients for the purpose of initiating a real estate transaction. Referral Associates cannot actively solicit or engage in the sale or listing of property.
Q: How do I know if I should join?
A: If you do not actively sell real estate but want to maintain an active license, KRRS is perfect for you. You may still refer your family, friends and customers, and we will help you locate a professional agent who will provide your referral with the high level of service you would provide to them.
Q: I just passed the Real Estate Exam but have decided not to actively pursue a career as a real estate agent right now. Can I join?
A: Absolutely! Newly licensed agents are welcome.
Q: Do I have to continue to earn Continuing Education credits?
A: Yes. Associates who join KRRS are required to keep their license active, which includes taking the required continuing education for license renewal. KRRS Associates complete six (6) hours of continuing education each year, as required by the Kentucky Real Estate Commission. Once every four years, Associates also must complete a six (6)-hour Core Course. Only Associates who are grandfathered by the state are exempt from the CEU requirements. The good news is that these hours currently can be earned through HomeServices Real Estate Academy at a minimal expense.
Q: What if my license is about to expire?
A: As a KRRS Referral Agent, you must maintain your license in an “active” status with the Kentucky Real Estate Commission (KREC) to be eligible to legally receive referral commissions.
Q: Can I refer a buyer or seller looking to buy or sell outside Kentucky?
A: Absolutely. Your referral coordinator works with a vast network of brokerage partner agents throughout the United States. You simply submit your referral form to KRRS, and your coordinator will make sure your referral clients are connected to a professional agent—regardless of where they need real estate services.
Q: Can I show houses and be involved with a client whom I refer through KRRS?
A: No. Once you submit a referral to KRRS, you are no longer allowed to play any part in the transaction, other than receive your referral commission upon closing.
Q: Can I speak with the agent assigned to my referral client?
A: Yes. When you submit your KRRS referral, you can indicate that you would like to speak with the assigned agent prior to client contact.
Q: What if I decide to go back into real estate directly and sign up with a Broker?
A: You are free to end your relationship with KRRS at any time. However, you will no longer be eligible to receive referral commissions on any referrals that are not under contract at the time you end your relationship with KRRS.
Q: What if I decide not to renew my Kentucky Real Estate License upon expiration?
A: To be an Associate with KRRS, you must have an “active” real estate license with KREC. Therefore, once your license expires, you can no longer remain an associate or receive referral commissions from KRRS. You would be removed upon expiration, and your license would revert back to the state.
Q: What if I submit a client referral while my license is active, but the closing doesn’t happen until after my license expires?
A: To receive any commissions based on a real estate transaction in Kentucky, you must have an “active” real estate license with KREC. Therefore, once your license expires, you can no longer receive referral commissions from KRRS.
Q: Once an Associate joins KRRS, who do they contact if they have questions?
A: Whenever you have a question about you relationship with KRRS, or that of your referral client(s) with KRRS, you may contact the KRRS referral coordinator via email at contactus@thekrrs.com or by phone at 502.420.5000.