I wanted to ask you… I have a license before, and my former broker says I can still receive a referral fee if I transfer clients, etc. I wasn`t so sure. I think it might depend on the type of contract you had with the real estate management company you were working for when you made the transfer, as I understand your situation. In other words, since you are now a licensed agent, you can always fill out a referral form now and go through the right channels, provided your help continues on the recommendation after you have been licensed… But I`m far from being a lawyer, so you want to call NAR and see what they say. Thank you for your questions. Yes, you are absolutely capable of doing any type of scope you want. Remember, just like creating customer line, creating recommendation starts by providing value and building a relationship, so try to warm up that cold reach a bit.
To the extent that the maximum transfer fee, like a real estate commission, there is no floor or ceiling. Depending on the circumstances, I have seen some recommendations as high as 50% or even 75%, and some as low as 10%. It really depends on your situation and the services you are going to provide. I was an agent and the company I used to work for — over the years, I really had only two good recommendations from the Relo division. In most sections, the other transfers were surcharges and appeared to be persons sent by agents who were trying to reach their quota for transfers to headquarters. At first, I felt good, because as a young agent, it gave me a firm. Thanks for that comment. In fact, the recommendation is made when there is a signed recommendation agreement. In the absence of this agreement, there is no obligation to pay a referral.
If an accepted offer has been written on behalf of your client, this contract contains a clause entitling you to the agreed recommendation percentage. When it`s time for the closing company to reduce the cheques that distribute the proceeds of the sale, your broker, like the real estate agent broker to whom you referred the client, will write a check. I`m a licensed agent with a major real estate agent in New York. My husband -I plan to buy real estate at PA, with an eye on retirement there in a few years. This is going to sound a little strange, but can I (and my broker) charge a referral fee for transferring my husband-me to an agent at PA? If I`m a real estate agent in Mass. and I`m transferring my partner to a real estate agent in Maine, and he`s found a house and is almost ready to close, and he wants to put me on the title, as “Tenant in Common,” is that going to make my recommendation commission? That`s a big question.