Definition Of Referral Fees In Real Estate
Referral fees in the real estate business are fees charged by one agent or broker to another for a client referred. They are most common when a seller client is leaving the area and their agent refers them to an agent or broker in the new area to which they’re moving. Generally, this fee is a percentage of the final commission received by the agent who accepts the referral. Let’s examine the current state of the real estate brokerage business and how referrals have become a market or business niche instead of a customer service when of value....