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.
Guam Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor A Guam Referral Agreement is a legally binding agreement made between a real estate broker and a real estate salesperson, agent, or realtor, where the broker agrees to share a portion of their commission with the salesperson for referred clients. This agreement outlines the terms and conditions of the referral, including the payment structure and the responsibilities of both parties involved. There are different types of Guam Referral Agreements that can be established between a broker and a salesperson, depending on their specific arrangement and the agreed-upon terms. Some common types of referral agreements include: 1. Fixed Percentage Agreement: In this type of agreement, the broker and salesperson agree on a fixed percentage of the commission that will be shared. For example, the salesperson may receive 25% of the total commission earned from the referral. 2. Tiered Commission Agreement: This agreement involves a structured payment system based on the number or value of referrals made by the salesperson. As the salesperson brings in more clients, their percentage of the commission gradually increases. This incentivizes the salesperson to generate more referrals and potentially earn a higher commission. 3. Flat Fee Agreement: In some cases, the broker and salesperson may agree on a flat fee instead of a percentage of the commission. This means that the salesperson will receive a predetermined fixed amount for each successful referral, regardless of the final commission received. Regardless of the type of referral agreement chosen, it is crucial to clearly document all the terms and conditions in a written agreement. This ensures that both parties are protected and fully aware of their rights and obligations. Key provisions typically included in a Guam Referral Agreement include the specific referral requirements, the determined commission percentage or fee, the terms of payment, confidentiality clauses, and the duration of the agreement. It is important to consult with legal professionals or experienced real estate professionals when drafting or reviewing a Guam Referral Agreement. This ensures compliance with local laws and regulations and prevents any potential disputes or misunderstandings in the future.
