Referral Fee Agreement Real Estate With Unlicensed
Description
How to fill out Referral Agreement For Sale Of Automobile?
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FAQ
To an unlicensed individual for referrals it is illegal. recommendation of a settlement service, you are in violation of RESPA.
In California, the Bureau of Real Estate and California law permits a licensed real estate brokerage to pay a referral fee for a real estate transaction to a person not licensed by the Bureau of Real Estate, only if the person who is to get such a fee was not soliciting on behalf of the brokerage.
A finder's fee (also known as "referral income" or "referral fee") is a commission paid to an intermediary or the facilitator of a transaction. The finder's fee is rewarded because the intermediary discovered the deal and brought it to the attention of interested parties.
If a licensed broker pays an attorney a referral fee, both parties may face punishment. It's not just attorneys. Any licensee who pays a non-licensed associate a referral fee is in violation of the law.
A finder's fee (also known as "referral income" or "referral fee") is a commission paid to an intermediary or the facilitator of a transaction. The finder's fee is rewarded because the intermediary discovered the deal and brought it to the attention of interested parties.