What is a holding company at Key Realty and how can you move your license there?
Overview
Ohio
Michigan
How to Join
How to Process a Referral Check
Overview
A holding company is a separate brokerage of Key Realty where an agent can transfer their license. Often referred to as a "referral company" or as an agent putting their license in referral status, the agent is able to keep their license active and receive referral commissions without having to belong to the Board and MLS. Agents are still required to keep their continuing education current with the state.
The benefits of being in the holding company are that your license is active and you can receive referral commissions but you don’t have to belong to the board or pay MLS fees. If you don’t think you will give any referrals, you can keep your license at the State in an inactive status indefinitely. However, in both cases, you need to keep your continuing education current.
Ohio
In Ohio, the holding company for Key is called Key Associates of Ohio. The cost to join is a one-time fee of $100 that is debited from your account. The agent is required to complete a license transfer application and pay the transfer fee to the State of Ohio, that fee is currently $34.00
Any referral commission the agent receives is paid to the agent on a 50%/50% split with the brokerage.
Key Associates of Ohio Brokerage Number REC.2011000361
DOWNLOAD Key Associates of Ohio Referral Form .PDF
DOWNLOAD W9 Key Associates of Ohio, LLC .PDF
Michigan
In Michigan, the holding company is called Key Holdings. The cost to join is an annual fee of $150 that is debited from your account. The agent is required to transfer their license to the Key Holding Brokerage in LARA.
Any referral commission the agent receives is paid to that agent at a 100% split.
Key Holdings Michigan Brokerage Number 6505408770
DOWNLOAD W9 Key Holdings .PDF
How to Join
Please reach out to your manager or HR@KeyRealtyAgent.com to request to move your license to the holding company.
How to Process a Referral Check
Key Holdings LLC (MI)
- The check needs to be payable to Key Holdings LLC
- Have the check mailed to the Corporate Office:
Key Realty
C/O Debbie Rajner
6546 Weatherfield Ct., C3
Maumee OH 43537 - Send an email to Debbie@KeyRealtyAgent.com when you have a referral check coming in so that it can be identified as yours
- Debbie Rajner will deposit the check to First Merchant’s Bank via a phone app. and pay to you 100% of the commission via ACH
Key Associates of OH
- The check needs to be payable to Key Associates of OH
- Have the check mailed to the Corporate Office:
Key Realty
C/O Debbie Rajner
6546 Weatherfield Ct., C3
Maumee OH 43537 - Send an email to Debbie@KeyRealtyAgent.com when you have a referral check coming in so that it can be identified as yours
- Debbie Rajner will deposit the check to Fifth Third Bank and pay to you 50% of the commission via ACH