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.
Keywords: Kansas Referral Agreement, sharing of commission, real estate broker, real estate salesperson, agent, realtor. The Kansas Referral Agreement, specifically designed for the real estate industry, facilitates the sharing of commissions between real estate brokers and salespersons, agents, or realtors. This agreement defines the terms and conditions under which a referral fee is paid when a real estate transaction is completed as a result of a referral. There are mainly two types of Kansas Referral Agreements — "Broker-to-Broker" Referral Agreement and "Broker-to-Agent/Realtor" Referral Agreement. 1. Broker-to-Broker Referral Agreement: This type of agreement is used when a real estate broker refers a client or transaction to another real estate broker. When the referred transaction successfully closes, the referring broker is entitled to a predetermined percentage of the commission earned by the receiving broker. The Kansas Referral Agreement outlines key elements such as the referral fee percentage, the scope of services provided, confidentiality terms, and the duration of the agreement. It is essential that both parties understand and agree to these terms before signing the agreement. 2. Broker-to-Agent/Realtor Referral Agreement: This agreement comes into play when a real estate broker refers a client or transaction to a real estate agent or realtor. Similar to the Broker-to-Broker Referral Agreement, the referring broker will receive a specified percentage of the commission earned by the receiving agent or realtor upon successful completion of the referred transaction. The Kansas Referral Agreement for broker-to-agent/realtor referrals may include additional provisions related to the specific services or responsibilities of the referring agent/realtor, disclosure of the referral relationship to the client, and any exclusions or limitations agreed upon by both parties. When entering into a Kansas Referral Agreement, it is important to comply with the regulations and guidelines set forth by the Kansas Real Estate Commission. The agreement should clearly outline the duties and obligations of each party, the referral fee structure, the timeframe within which the referral fee will be paid, and any conditions or contingencies that may affect the referral fee payment. To ensure a smooth and transparent transaction, it is recommended to consult with legal professionals or experienced individuals with knowledge of Kansas real estate laws before finalizing a referral agreement. This way, both the real estate broker and the salesperson, agent, or realtor can protect their interests and establish a mutually beneficial referral relationship.Keywords: Kansas Referral Agreement, sharing of commission, real estate broker, real estate salesperson, agent, realtor. The Kansas Referral Agreement, specifically designed for the real estate industry, facilitates the sharing of commissions between real estate brokers and salespersons, agents, or realtors. This agreement defines the terms and conditions under which a referral fee is paid when a real estate transaction is completed as a result of a referral. There are mainly two types of Kansas Referral Agreements — "Broker-to-Broker" Referral Agreement and "Broker-to-Agent/Realtor" Referral Agreement. 1. Broker-to-Broker Referral Agreement: This type of agreement is used when a real estate broker refers a client or transaction to another real estate broker. When the referred transaction successfully closes, the referring broker is entitled to a predetermined percentage of the commission earned by the receiving broker. The Kansas Referral Agreement outlines key elements such as the referral fee percentage, the scope of services provided, confidentiality terms, and the duration of the agreement. It is essential that both parties understand and agree to these terms before signing the agreement. 2. Broker-to-Agent/Realtor Referral Agreement: This agreement comes into play when a real estate broker refers a client or transaction to a real estate agent or realtor. Similar to the Broker-to-Broker Referral Agreement, the referring broker will receive a specified percentage of the commission earned by the receiving agent or realtor upon successful completion of the referred transaction. The Kansas Referral Agreement for broker-to-agent/realtor referrals may include additional provisions related to the specific services or responsibilities of the referring agent/realtor, disclosure of the referral relationship to the client, and any exclusions or limitations agreed upon by both parties. When entering into a Kansas Referral Agreement, it is important to comply with the regulations and guidelines set forth by the Kansas Real Estate Commission. The agreement should clearly outline the duties and obligations of each party, the referral fee structure, the timeframe within which the referral fee will be paid, and any conditions or contingencies that may affect the referral fee payment. To ensure a smooth and transparent transaction, it is recommended to consult with legal professionals or experienced individuals with knowledge of Kansas real estate laws before finalizing a referral agreement. This way, both the real estate broker and the salesperson, agent, or realtor can protect their interests and establish a mutually beneficial referral relationship.
