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LIMITED FUNCTION REFERRAL ORGANIZATION (LIFRO) A LIFRO is a method to get licensed real estate agents who are not really serious about the business to refer clients to your agents at REALTY EXECUTIVES and legally receive referral fees. These may be hairdressers, retirees, full time teachers; any licensee with another profession is a good candidate. This is a separate real estate brokerage (according to Minnesota state laws), which means it is a separate "Broker of Record." The company does not need to be a member of NAR, or Boards or Associations or MLS. We receive income by charging an annual fee to all of those people licensed and receive a portion of their referral fees upon each closing. Our annual fee is $250.00 and we receive 20% of the referral agents referral fees.
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