402,032
Referral fees are one-fer unless otherwise agreed upon. The agent is a loser douchebag and totally out of line.
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Mike Rock
Granite Bay, CA
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Thomas J. Nelson, REAL...
La Jolla, CA
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Amanda Christiansen
Fort Wayne, IN
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Paul S. Henderson, REA...
Tacoma, WA
231,279
That is an agent who is 3rd rate and broke... and will continue to be... ref is for one time and for a limited time.. a few weeks to a few months...depending if they drop out and then come back. but one transaction only
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Thomas J. Nelson, REAL...
La Jolla, CA
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Amanda Christiansen
Fort Wayne, IN
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Inna Ivchenko
Encino, CA
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Paul S. Henderson, REA...
Tacoma, WA
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Jill Murty, Realtor - ...
Laguna Niguel, CA
3,222,722
Paul, My expectation is the first transaction (or perhaps two if it was sent as a sell/buy set), but any business years later? That was earned based on MY performance, not by the referring agent continuing to tout me. As far as a time limit, I think our brokerage's form doesn't have a time frame specified, so I'd go with "as long as it takes".
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Thomas J. Nelson, REAL...
La Jolla, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Paul S. Henderson, REA...
Tacoma, WA
736,232
No, I think a one time fee is acceptable. After you've worked with the client and they choose to use you again, that's due to your work. It has nothing to do with the referring agent.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Paul S. Henderson, REA...
Tacoma, WA
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Allie Angeloni
Oro Valley, AZ
3,213,389
Just wow that they expected more 5 years later. I have paid for multiple purchases when an investor was referred to me, but it was clearly spelled out in the referral we negotiated. It was all purchases for a period of 24 months.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Paul S. Henderson, REA...
Tacoma, WA
789,384
Trying the old "Squeeze Play" with you! Pound Sand comes to mind!!!
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Jill Murty, Realtor - ...
Laguna Niguel, CA
2,443,346
I do not put a time limit on a referral I receive. Sometimes it takes a while to find them the right home. However, I would not pay multiple fees everytime the bought and sold in the future. Two different deals.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Allie Angeloni
Oro Valley, AZ
5,167,153
It's a 1-time thing unless otherwise specified. And I spell out if it is buy, or sell
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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Paul S. Henderson, REA...
Tacoma, WA
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Allie Angeloni
Oro Valley, AZ
1,101,059
1 time, 1 transaction unless otherwise agreed. And make sure it is clearly outlined on the agreement.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
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Allie Angeloni
Oro Valley, AZ
3,074,389
What did the referral form that was signed by the agents and the brokers state?
If this event wasn't "covered" - send her a coupon for a class in contract writing??!!
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Thomas J. Nelson, REAL...
La Jolla, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Tony and Suzanne Marri...
Scottsdale, AZ
3,627,422
What a dope that other agent is. Referral is for a one time only transaction. the rest of my thought I'll hold in reserve as they are not suitable in this forum..
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Thomas J. Nelson, REAL...
La Jolla, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
1,153,799
I am fairly strict on my acceptance level and all of these questions are discussed with the referring agent prior to that. Beyond that the customer interview will be the deciding factor. Where they are and where they want to be in their new market can be discouraging to many. The "forever referral" is not in my repetoire Paul!
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
4,738,312
I like things in writing.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Candice A. Donofrio
Fort Mohave, AZ
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James Dray
Bentonville, AR
2,538,789
Good morning Paul. Unless otherwise agreed upon, I would pay a referral as a one time thing, but no time limit.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
1,650,442
Only for that single transaction, unless you agreed on ''forever'' in advance.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
4,322,035
Paul S. Henderson, REALTOR®, Broker, Tacoma Washington good question.
Usually, I think referrals should not expire - at least for the first transaction. Never had multiple transactions through a referral from another agent, yet.
I reblogged Kathleen Daniels 's post where she did not even receive referral fees for the first transaction as too much time passed as per referred agent. Not right for sure.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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Praful Thakkar
Burlington, MA
321,664
At the time they are referred. It may take a few weeks to a month. After you closed the deal I would think the future, 5 years or so... would be because they liked you.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
290,969
Hmmm . . . my thought is that, that was a '1 time' Referral Fee. You would have had to work together for her to 'earn' another '1 time' Referral Fee. That seems so wrong on her part . . . she would get compensation for doing 'what' this second time?? Just my .02 cents Paul S. Henderson, REALTOR®, Broker, Tacoma Washington!!
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
1,713,581
Pretty much one sale only. I have done a few extensions on investors.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
5,199,702
I never did before but going to now
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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James Dray
Bentonville, AR
3,763,935
Boy! This is a tough one. I remember an old broker telling me that a referral fee was owed only on the first transaction. But if I felt that the referee had a close connection with that first agent, I might offer to send them something.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
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Paul S. Henderson, REA...
Tacoma, WA
5,312,494
The subject has actually never come up for me. Our referral agreements are written for a specific transaction. I don't believe you "owe" forever and I don't believe I'm "owed" forever.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Candice A. Donofrio
Fort Mohave, AZ
2,575,306
Our referrals don't have an end date and they are for one deal. If the buyer or seller wants to work with me a second (or third) time, they want to work with me because I did a great job the first time.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
1,292,002
You done good. I would have done the same.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
2,759,862
Good morning Paul S. Henderson, REALTOR®, Broker, Tacoma Washington . As an ancillary service provider, I can never take anything for granted.
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Thomas J. Nelson, REAL...
La Jolla, CA
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James Dray
Bentonville, AR
1,619,531
One & done with me. I have sent fees to agents that forgot they referred me; I'm ethical that way. But all future business is a result of my efforts, not the original referring agent. That agent was out of line for wanting more.
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Thomas J. Nelson, REAL...
La Jolla, CA
4,434,227
I have not thought of it and do not expect referral fees after the first transaction.
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Thomas J. Nelson, REAL...
La Jolla, CA
8,151,265
I depends on your agreement with the other agent.
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Thomas J. Nelson, REAL...
La Jolla, CA
1,751,737
5,483,845
One and done unless there are unusual circumstances!
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Thomas J. Nelson, REAL...
La Jolla, CA
2,249,294
This should all be worked out when sending a referral
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Thomas J. Nelson, REAL...
La Jolla, CA
1,683,918
We get multiple referrals from our past clients. it is good forever.
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James Dray
Bentonville, AR
6,687,332
979,796
Paul - I would not expect a referral fee four years later? My opinion is that the referral would be for that first particular transaction, unless otherwise stated.
3,986,473
1,538,464
Unless in writing otherwise, I think the referal is a point in time deal. It is for introducing the client to the agent. Subsequent transactions are based upon your service to the client and should not be subject to a referral fee. Maybe a thank you card and a small gift, but no fee.
5,774,100
634,582
5,584,639
that referral was a one shot deal....it's not perpetual care like the cemetery....
1,466,257
Paul S. Henderson, REALTOR®, Broker, Tacoma Washington A referral is only good for the one transaction unless there is a prior agreement in place to share all referrals. Looks like you may have to add a one transaction statement in your referral agreement to make it clear.