Realtor Referral FAQs
Answers to your frequently asked questions
I have a client that would like to apply for one of your properties. What is involved in the application process?
Signature Properties runs credit, criminal and eviction background checks on all adult applicants / guarantors. Each adult applicant / guarantor age 18 and over is required to submit an application to be considered for our rental properties. Applicants can apply and submit an electronic application on this website (www.SPMRental.com). A non-refundable application fee per adult applicant / guarantor is due at the time the application is submitted.
I have a client that would like to list his property for sale and rent at the same time. How can you help?
Signature Properties will work side by side with you to list the property for rent while you list the property for sale. If a Tenant is found before a Buyer is found, then you remove the sales listing from the sales market. If you find a Buyer before a Tenant is found, then send us a copy of your contract and your client can terminate with Signature Properties without paying the full contract termination penalty. It is requested that the client reimburse for half of the property marketing expenses (Note: $125 per month) for the months the listing was advertised for rent until a Buyer was found and Signature Properties was notified by you in writing that the property went under contract to be sold.
I referred a property. When can I expect to receive my commission?
Typically, commissions are disbursed within 30 days of the tenant taking occupancy of the rental property.
I’m interested in expanding my work portfolio through property management. How can I become a Property Manager?
Signature Property Management is looking to expand its group of property managers across many different markets. Please contact Signature Property Management (804-746-7466) for more information.
If clients I refer to you later decide to buy a home or sell their home, am I guaranteed to be their agent?
Signature Properties is a Property Management firm, exclusively, and we respect the Law of Agency. While we cannot enforce which Realtor a client ultimately decides to use to buy or sell, we encourage clients to contact the Realtor that referred them to our firm. We respectfully recommend that referring Realtors maintain an active relationship with their referrals to help preserve and protect their relationship.
What commissions do you pay for referring a property for property management services?
Realtors who refer clients that enroll in our full-service property management program receive 50% of one full month’s rent (up to $400).
Investor clients and/or owners of multiple properties often demand and receive lower management fees. Their referring Agents are compensated at a rate of 50% of one month's rent for the first property and 15% for each additional property.
Who should I contact if I have additional questions on referring properties or clients to Signature Properties?
You may call our office at 804-746-7466 during business hours to speak with the Operations Manager or a member of our staff.