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RealEdge is one of the few companies that have a second option.
It’s called LFRO (Limited Function Referral Office)
During the 2003 Midyear Meetings, the National Association of REALTORS’ Board of Directors approved a certain amendments to the Bylaws to exclude licenses affiliated with a limited function referral office (LFRO) from the obligation of Designated REALTORS.
The practical effect of this change is that designated REALTORS are no longer required to pay dues based on licensees affiliated with an entity owner by the REALTOR which is engaged exclusively in soliciting and/or referring clients and customers to the REALTOR brokerage firm.
The LFRO Agents (or Referral Agents) do not sell real estate or manage property, nor do they engage in any process of the Real Estate Transaction other than placing a lead (referral) into the Ricabu System to be sent to a full-time REALTOR. They do not have access to the MLS, and therefore are not required to pay any fees to such a board.
