Effective September 20, 2023, we will be increasing our referral commission on all referrals from 25% to 30% in Arizona, California, Colorado, Florida, Illinois, and Texas.
Frequently Asked Questions
Why is HomeLight increasing its referral fee?
Making this change will allow HomeLight to invest in new technology and efficiencies, as well as continue to make the product and program improvements that help you and your clients compete and win in today's challenging market. We are looking to invest in the following areas to help grow your business:
- Increase share of referrals to top partners: We're working to make improvements to our referral routing system, ensuring that you receive and connect with the highest-quality referrals quickly and efficiently.
- Launch new partnerships: We've partnered with Bankrate, one of the leading financial websites, to showcase our top agents just like you. Their new agent search engine, powered by HomeLight, is now live on over 900 pages across 10 states, and growing.
- Build a more scalable platform to qualify leads and increase connection: We're exploring new ways to use AI and text messaging to better qualify leads and connect you with them in a faster, more efficient, and successful way.
What date does the new pricing take effect?
- September 20, 2023
Where do I find the new referral agreement?
- Sign into your HomeLight agent profile and click on Sign New Referral Agreement at the top of the page. For steps on how to access and sign the new referral agreement click here.
How does this impact referrals I’ve already received from HomeLight?
- Any referral claimed prior to September 20, 2023, is payable at 25% of the agent’s gross commission, regardless of the home's closing date.
What happens if I don’t sign a new referral agreement?
- You will no longer be eligible to claim new referrals.
I am a team lead/broker, how does this new agreement impact my team?
- Referrals are awarded to the team broker/lead and any referral given to a team member is subject to the current referral percentage of the lead/broker.
What do I need to do if I no longer want to work with HomeLight?
- The following steps must be taken to deactivate your HomeLight Profile. Remember, you are financially responsible for any referral you have accepted through the end of your contract “active period” of two years regardless of the deactivation request.
- Send an email to platform-support@HomeLight.com with the subject line - Deactivate Account
- Update all your referrals in your HomeLight agent portal to the most current stage
- If you are no longer working with a referral, make sure to close it by updating the stage to "Failed".
- Note: This should only be done if you are no longer working with the client.
- Until these steps are completed, you will continue to receive ongoing correspondence from HomeLight regarding your open referrals.
What does it mean to deactivate my HomeLight account?
- It means you are no longer wanting to claim new referrals from HomeLight. You will still be responsible for referrals previously sent to and claimed by you regardless of the current stage they are in.
I can’t claim the referral that was just sent to me. What do I do?
- In order to claim new referrals after September 20, 2023, you are required to sign the new referral agreement. All new referrals will not be accessible until the referral agreement is signed.
I signed the new referral agreement but still cannot claim the recent referral that was sent to me. What do I do?
- If you are unable to claim a new referral it is possible that it is no longer available. Referrals are time-sensitive and have the potential of being introduced to additional agents should you be unresponsive. HomeLight expects agents to reach out within 10-15 minutes of receiving the referral notification. If you believe you are unable to claim a recent referral due to an error, please reach out to platform-support@HomeLight.com for further assistance.
What is the "active period" on a HomeLight referral?
- Referrals claimed after September 20, 2023, have an active period of 3 years beginning on the most recent introduction date, meaning agents are responsible for paying HomeLight a referral fee if the deal closes within 3 years. For referrals claimed prior to September 20, 2023, an active period of 2 years will begin on the date of the most recent introduction.
What if I act as an investor and purchase the property of my HomeLight client?
- If you act as an investor to a HomeLight client and purchase their property, you are subject to pay 4% of the purchase price to HomeLight.
What happens if I don't pay my referral fee on time?
- You must pay HomeLight the Referral Fee as soon as you receive your Gross Commission. If you don't pay it on time, there will be a late fee of 3% for each 30-day period it's overdue after the HomeLight Referral transaction closes.