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Real Estate Referral Agreement  Form

Real Estate Referral Agreement Form

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What is the Real Estate Referral Agreement

A real estate referral agreement is a formal contract between real estate professionals that outlines the terms under which one agent refers a client to another agent or brokerage. This agreement typically specifies the referral fee, the conditions for payment, and the responsibilities of each party involved. By establishing clear expectations, this agreement protects the interests of both the referring agent and the receiving agent, ensuring a smooth transaction process.

Key Elements of the Real Estate Referral Agreement

Several critical components make up a comprehensive real estate referral agreement. These include:

  • Parties Involved: Identification of the referring and receiving agents or brokerages.
  • Referral Fee: The percentage or flat fee to be paid for the referral, often based on the commission earned from the transaction.
  • Payment Terms: Details on when and how the referral fee will be paid, including any conditions that must be met.
  • Duration: The time frame during which the agreement is valid, including any expiration dates.
  • Confidentiality: Provisions to protect sensitive information shared between the parties.

Steps to Complete the Real Estate Referral Agreement

Completing a real estate referral agreement involves several straightforward steps:

  1. Identify the Parties: Clearly state the names and contact information of both the referring and receiving agents.
  2. Define the Referral Fee: Agree on the percentage or amount that will be paid as a referral fee.
  3. Outline Payment Terms: Specify how and when the fee will be paid, including any conditions for payment.
  4. Include Additional Provisions: Add any necessary clauses, such as confidentiality or dispute resolution.
  5. Sign the Agreement: Ensure that both parties sign the agreement to make it legally binding.

Legal Use of the Real Estate Referral Agreement

To ensure the legal validity of a real estate referral agreement, it must comply with applicable state laws and regulations. This includes adhering to licensing requirements for real estate agents and ensuring that the agreement does not violate any anti-kickback statutes. Using a reliable electronic signature platform can enhance the legality of the document, as it provides a secure and compliant way to sign and store the agreement.

How to Obtain the Real Estate Referral Agreement

Obtaining a real estate referral agreement can be done through various means. Many real estate associations and brokerages provide templates that agents can use. Additionally, online platforms offer customizable templates that can be tailored to specific needs. It is essential to ensure that any template used complies with state regulations and includes all necessary elements to protect both parties.

Examples of Using the Real Estate Referral Agreement

Real estate referral agreements are commonly used in various scenarios, such as:

  • When a real estate agent refers a buyer to another agent in a different geographic area.
  • When a broker facilitates a referral between agents within the same brokerage.
  • In cases where an agent specializes in a particular type of property and refers clients to another agent with the appropriate expertise.

Quick guide on how to complete real estate referral fee agreement template

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How to edit and electronically sign referral agreement template with ease

  1. Locate exp referral agreement and click on Get Form to initiate.
  2. Utilize the tools we offer to fill out your form.
  3. Emphasize relevant sections of your documents or redact sensitive information with tools that airSlate SignNow provides specifically for that purpose.
  4. Create your electronic signature using the Sign feature, which takes seconds and carries the same legal validity as a traditional wet ink signature.
  5. Review all the details and click on the Done button to save your changes.
  6. Select how you wish to send your form, whether by email, SMS, or invite link, or download it to your computer.

Say goodbye to lost or misplaced papers, tiring form searches, or mistakes that necessitate printing new document copies. airSlate SignNow meets your document management needs in just a few clicks from any device you prefer. Edit and electronically sign real estate referral form and ensure excellent communication at every stage of the form preparation process with airSlate SignNow.

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