Agent-to-Agent Referrals: Refer eligible leads you don’t want or can’t handle back to us and we’ll pay you a 25% referral fee on each closed deal. (Family, Friends, Relocation, etc)
The referral fee is paid from broker to broker. The agent cannot receive a referral fee directly from a licensed entity. All referral fees are paid to the broker. All referral fee agreements are between cooperating brokers. A broker will then pay the agent.
This rule protects the public. It works in conjunction with laws prohibiting agents from accepting kickbacks from title companies, inspection companies, appraisers, surveyors, attorneys, mortgage banks and any number of other related companies who would happily bribe us if they legally could because agents and their clients are an important source of new business. We can’t accept payments from any of them, and if they give a gift, these must be modest to avoid running afoul of the law.
The only kind of referral payments we are legally allowed to accept are agent-to-agent referrals through our brokers.