Referral compensation is available only to licensed real estate brokerages and is paid only pursuant to a written referral agreement executed by the referring brokerage and Homestead Road (MN Broker License #40336054). The terms set forth therein govern the parties’ relationship and supersede any terms described in this program overview.
The referral fee is equal to 3% of the purchase price reflected on the settlement statement for a residential property acquired from a referred seller who closes a transaction with any Homestead Road affiliated purchasing entity. The referral must be submitted to and expressly accepted by Homestead Road before the seller enters into a purchase agreement. Submitting a referral inquiry, contacting Homestead Road regarding a referral, or completing the contact form does not by itself create a referral agreement or an obligation to pay compensation. Homestead Road reserves sole discretion in determining eligibility and acceptance of referrals. No referral compensation shall be payable for duplicate referrals or for sellers previously known to, engaged with, or under contract with Homestead Road or its affiliates.
Referral compensation is earned only upon the successful closing of the transaction. No referral fee shall be due or payable if the transaction fails to close for any reason.
Referral compensation is paid to the referring brokerage, not to individual licensees. Any distribution of compensation by the referring brokerage to its affiliated licensees shall be the sole responsibility of the referring brokerage and must comply with applicable law and brokerage policy.
This referral program is void where prohibited by law. Referral compensation is not available to consumers, home sellers, unlicensed individuals, or any party not legally eligible to receive such compensation.
Referral compensation is available only in connection with lawful brokerage referral arrangements and is subject to compliance with all applicable federal, state, and local laws and regulations. Homestead Road reserves the right to cancel, modify, or terminate this program at any time and to establish additional eligibility requirements at its discretion.