| ABOUT
EMERITUS REFERRAL NETWORK: The Emeritus
Referral Network is a corporate structure, known in the
industry as a Limited Function Referral Organization "LFRO"
wherein it is possible for real estate licenses who are not
actively working in the real estate profession to have
access to an organization which can hold real estate
licenses and process referral transactions. Emeritus
associates must maintain active real estate licenses. They
cannot engage in real estate transactions, including listing
properties, working with and/or counseling buyers or
sellers. These prohibitions are in adherence to the
rules established by the National and Texas Association of
Realtors and the San Antonio Board of Realtors. Associates
may refer both buyers and sellers to active agents the
associate has chosen, following communication of the
associates' notification of intent to refer to Emeritus.
The referring associate will be provided with the required
paperwork to be signed by the receiving agent/company
disclosing the fee the receiving agent will pay Emeritus at
closing.
 If the associate has no preference as to the agent who
receives the referral, management will place the referral
for the associate. According to LFRO rules, all out of
town referrals are to be placed by management.
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