This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Georgia Referral Agreement, also known as a Commission Sharing Agreement, is a legal document used by real estate professionals in Georgia to formalize the arrangement between a real estate broker and a real estate salesperson, agent, or realtor for the sharing of commission on a referral basis. This agreement outlines the terms under which the referring party will receive a percentage of the commission earned from a referred real estate transaction. In Georgia, there are several types of referral agreements commonly used between real estate brokers and salespersons or agents. These agreements include: 1. Georgia Referral Agreement — Exclusive: This type of agreement grants the exclusive right to the referring party to receive commission sharing for any real estate transactions resulting from their referrals. The referring party maintains an exclusive relationship with the real estate broker in terms of referral business. 2. Georgia Referral Agreement — Non-Exclusive: Unlike the exclusive agreement, a non-exclusive referral agreement allows the referring party to enter into referral agreements with multiple real estate brokers simultaneously. They are entitled to receive commission sharing from any successful transactions resulting from their referrals, regardless of which real estate broker finalizes the deal. 3. Georgia Referral Agreement — Fixed Percentage: This agreement sets a fixed percentage, agreed upon by the parties involved, that the referring party will receive as commission sharing for any successful real estate transaction resulting from their referrals. The percentage of commission sharing can be determined by negotiation and may vary on a case-by-case basis. 4. Georgia Referral Agreement — Variable Percentage: In this type of agreement, the commission sharing percentage is not fixed but instead adjusts based on factors such as the referral source, the type of property, or the specific terms of the transaction. The parties involved can negotiate and specify the criteria for determining the commission sharing percentage. Key elements typically included in a Georgia Referral Agreement — Sharing of Commission are— - Identification of the referring party and the receiving broker or agent. — Description of the referral relationship and the scope of the agreement. — Terms and conditions for commission sharing, including the percentage or method of calculation. — Duration of the agreement and any termination clauses. — Responsibilities and obligations of the referring party regarding referral promotion and documentation. — Confidentiality and non-compete clauses, if applicable. — Governing law and dispute resolution provisions. It is essential for both the referring party and the receiving broker or agent to carefully review and understand the specific terms of the referral agreement before signing. Consulting with legal professionals well-versed in Georgia real estate laws is recommended to ensure compliance and a fair distribution of commission.A Georgia Referral Agreement, also known as a Commission Sharing Agreement, is a legal document used by real estate professionals in Georgia to formalize the arrangement between a real estate broker and a real estate salesperson, agent, or realtor for the sharing of commission on a referral basis. This agreement outlines the terms under which the referring party will receive a percentage of the commission earned from a referred real estate transaction. In Georgia, there are several types of referral agreements commonly used between real estate brokers and salespersons or agents. These agreements include: 1. Georgia Referral Agreement — Exclusive: This type of agreement grants the exclusive right to the referring party to receive commission sharing for any real estate transactions resulting from their referrals. The referring party maintains an exclusive relationship with the real estate broker in terms of referral business. 2. Georgia Referral Agreement — Non-Exclusive: Unlike the exclusive agreement, a non-exclusive referral agreement allows the referring party to enter into referral agreements with multiple real estate brokers simultaneously. They are entitled to receive commission sharing from any successful transactions resulting from their referrals, regardless of which real estate broker finalizes the deal. 3. Georgia Referral Agreement — Fixed Percentage: This agreement sets a fixed percentage, agreed upon by the parties involved, that the referring party will receive as commission sharing for any successful real estate transaction resulting from their referrals. The percentage of commission sharing can be determined by negotiation and may vary on a case-by-case basis. 4. Georgia Referral Agreement — Variable Percentage: In this type of agreement, the commission sharing percentage is not fixed but instead adjusts based on factors such as the referral source, the type of property, or the specific terms of the transaction. The parties involved can negotiate and specify the criteria for determining the commission sharing percentage. Key elements typically included in a Georgia Referral Agreement — Sharing of Commission are— - Identification of the referring party and the receiving broker or agent. — Description of the referral relationship and the scope of the agreement. — Terms and conditions for commission sharing, including the percentage or method of calculation. — Duration of the agreement and any termination clauses. — Responsibilities and obligations of the referring party regarding referral promotion and documentation. — Confidentiality and non-compete clauses, if applicable. — Governing law and dispute resolution provisions. It is essential for both the referring party and the receiving broker or agent to carefully review and understand the specific terms of the referral agreement before signing. Consulting with legal professionals well-versed in Georgia real estate laws is recommended to ensure compliance and a fair distribution of commission.
