If an accepted offer was drafted on behalf of your client, this contract contains a clause entitled you to the agreed recommendation percentage. If the time has come for the business to close down to reduce the cheques that distribute the proceeds of the sale, a cheque will be written to your broker, just like the broker of the real estate agent to whom you referred the client. Good question, thank you for your comment. This is a rather nuanced situation, but I can tell you that no transfer is legally due, unless a contract has been signed for one. That said, there are many handshake deals that occur in the real estate industry; a kind of code between brokers. I agree it`s like a sticky wicket, but eventually I`d put it in the hands of your agent. He must ask himself if the 25% commission is worth the headaches that can follow when it comes to caring for the neighbor on the street. From a legal point of view, he owes him nothing, but this could be the kind of situation in which brokers have to interfere to clarify everything. Even if the mediation agent or broker does not have a brokerage contract signed with a buyer, the simple act of performing real estate-specific transactions in some states may constitute a derivative professional relationship. In the event that the state the client comes from has a portability agreement with your state, the referring agent/broker could still be considered the registrar, even if you remove it and show them houses, their original brokerage relationship being already established. Hi Chris, I`m a licensed real estate agent, but I don`t work with a broker. Could I still receive a research fee if I am not employed by a broker? So if I was a home manager before I had to be a licensed broker, and I wanted to sell a property like the one I linked to a broker friend. Now I am licensed at Keller Williams, and the property is sold and friend wants to give me a referral fee, but no contract has ever been written.
How can I do this? Help me! Any licensed real estate professional can receive a recommendation as long as they are properly housed in a broker. If you are part of the brokerage, you can receive this recommendation. Many agents manage a business based on recommendations, which reduces their return for each transaction concluded, but also their workload! It`s tricky.. .