So it`s a little tricky. As a general rule, referral agreements are made between brokers before the sale of a home. It may be difficult to negotiate for a transfer amount after the deed. But, hypothetically, one could use the following as a plan: There are a few lines to follow here, especially when it comes to real estate bird dogging. A “bird dog” is someone who looks for real estate investors and then brings real estate investment opportunities. From a technical point of view, this is not illegal, because a bird dog does not really bring together a buyer and a seller, but only the possibility of an agreement with a buyer. A referral agent sends you back a client who buys a home for 100K. The rules governing international transfers are somewhat vague and vary from country to country. To the extent that Australia is able to legally facilitate the sale or purchase of real estate in Australia, you will qualify for a referral fee from a U.S.-based transaction.
Great question, thanks for your comment. It is a fairly nuanced situation, but I can tell you that legally, there is no transfer due, unless a contract has been signed. That said, there are many handshake agreements that take place in the real estate sector; Some kind of code between brokers. I agree it looks like a sticky wicket, but eventually I would put it in your agent`s hands. He must ask himself whether the 25% of the Commission is worth the headaches that can follow to do with the neighbour of the street. From a legal point of view, he doesn`t owe him anything, but that could be the kind of situation in which brokers have to interfere to solve everything. Chris – I am a licensed agent in Florida with no sales last year. I intend to leave my broker promise and retire. As I want to refer clients to local agents I know, I understand that I have to join a virtual brokerage where I “park” my license to be “under a broker”. Most of these companies charge between $69 and $99 per year, and the referring agent receives 90% of the transfers. Do you know anyone who has experience in this area, and are these companies serious? Recently, we had a real estate agent who we thought he had no time for us, that he wasn`t really at the ball, that he was showing us houses, or even that he had called us back a week in time, but usually, a few days later, we would have an answer.
We tried to get them out of the contract so we could have another agent. We`ve already had a few friends in mind.