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Frequently Asked Questions!

What is an LFRO (Limited Function Referral Office)?

Good Day Agents is a Limited Function Referral Office. A Limited Function Referral Office (LFRO) allows agents to practice real estate on a referral basis only. We do not provide brokerage services, so our agents are not allowed to list real estate, represent buyers, or represent lease clients. They are only allowed to refer people to a traditional full-service brokerage and receive compensation for that referral.

Why choose Good Day Agents then?

Because we do not allow full-service real estate, we are able to save our agents fees that you would incur under a traditional brokerage. Our agents are no longer interested in doing real estate full-time but do not want to miss out on potential referral commission opportunities.

Can I join the board of Realtors®?

No. Keeping our costs low for our agents includes not being a member of the Board of Realtors®. When your broker is a member of the board all of their agents must be a member of the board.

Do I have MLS access?

No. We do not pay the Association or the local Boards of Realtors®. MLS access is not needed for referral services.

Who can be paid a referral fee?

To receive or earn a referral fee for a Real Estate transaction in Texas, you must have an active real estate license and be sponsored by a Broker. Referral fees/commissions cannot be paid to an unlicensed or inactive licensed agent.

Can I list houses when sponsored by Good Day Agents?

Good Day Agents cannot list real estate or perform any brokerage services. If you want to list real estate, including your own properties, you will need to transfer your license to a traditional brokerage.

Can Good Day Agents represent Buyers?

Good Day Agents cannot represent buyers. If you want to represent buyers, you will need to transfer your license to a traditional brokerage.

Can Good Day Agents represent themselves in a real estate transaction & collect commissions?

Good Day Agents cannot serve as their own buying or selling agent and collect a commission.

What happens if a Good Day Agent engages in brokerage services during sponsorship?

Your license will be immediately sent back to TREC and placed in an inactive status. Any commissions earned will be sent back to the party that paid them. Under no circumstances is any Good Day Agent allowed to engage in brokerage activity other than receiving a referral fee/commission.