Buying or Selling a Home/Referral Fees

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Expert: - 9/15/2006


Question
I'm sending over referral leads to another real estate agent associate of mine practicing out of town. How typically do these referral situations work? Do I check-up on the partnering agent to see if any commission revenues has been earned yet? Am I paid through escrow or through the agent himself? Thank you for your insights in advance.  

Answer
Since you are both associates, YOU DO NOT PAY ANYONE ANYTHING NOR DO YOU GET PAID FROM ANYONE. Your broker does. Therefore, advise your broker (or office manager) what you have agreed and he/she will make sure it is done right. Yes, the office may get a cut of your referral fee, if they so choose. Sometimes they let you have all of it.

I do wish you well.

Dick Dennis              dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

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Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

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e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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