Effective October 25, 2022, we will be increasing our referral commission on all referrals from 25% to 33%.
Frequently Asked Questions
Q: Why is HomeLight increasing its referral fee?
Making this change will allow HomeLight to invest in new marketing channels and product changes. To help increase your business, we are looking to focus on:
- Enhanced Client Qualification: We are launching a new text-first experience early next year aimed at helping improve your contact rates and engagement with interested buyers/sellers.
- New Agent-Centric TV Campaign: We will be launching brand new advertisements spotlighting local realtors to emphasize the importance of choosing a great agent.
- Next Generation Mobile Experience: We recently launched our new mobile app, allowing you to follow up with leads on the move. We will continue to invest in our mobile app to help you better manage offers and your HomeLight pipeline from anywhere. Download it here.
- More Strategic Partnerships: We are the exclusive referral partner for some of the top consumer brands in the world. We are making significant investments in our partnership business to drive more exclusive leads for you.
Q: What date does the new pricing take effect?
- A: October 25, 2022.
Q: Where do I find the new referral agreement?
- A: 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.
Q: How does this impact referrals I’ve already received from HomeLight?
- A: Any referral claimed prior to October 25, 2022, is payable at 25% of the agent’s gross commission for referrals under $4M and 30% for referrals over $4M, regardless of the home's closing date.
Q: What happens if I don’t sign a new referral agreement?
- A: You will no longer be eligible to claim new referrals.
Q: I am a team lead/broker, how does this new agreement impact my team?
- A: 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.
Q: What do I need to do if I no longer want to work with HomeLight?
- A: The following steps must be taken to deactivate your HomeLight Profile. Remember, you are financially responsible for any referral you accepted through the end of your contract “active period” of two years regardless of the deactivation request.
- Send an email to 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 (fail) it out.
- Update all referrals from their current stage to failed stage. This should only be done if you are no longer working with the HomeLight referred client.
- Until these steps are completed you will continue to receive ongoing correspondence from HomeLight regarding your open referrals.
Q: What does it mean to deactivate my HomeLight account?
- A: 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.
Q: I can’t claim the referral that was just sent to me, what do I do?
- A: In order to claim new referrals after October 25, 2022, you are required to sign the new referral agreement. All new referrals will not be accessible until the referral agreement is signed.
Q: I signed the new referral agreement but still cannot claim the recent referral that was sent to me, what do I do?
- A: Your referrals are time-sensitive. Referrals have the potential of being matched with other agents if one is unresponsive, once the maximum number of agents have reached out on a referral it will no longer be available to call. We ask that referrals are responded to within 15-30 minutes of receiving the notification. Responsiveness is something HomeLight measures and our clients expect quick responses as well
Q: What is the "active period" on a HomeLight referral?
- Referrals claimed after October 25, 2022, 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 October 25, 2022, an active period of 2 years will begin on the date of the most recent introduction.
Q: 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.