North Carolina Broker Referral Agreement

• Category: Real Estate - Referral Agreements
• State: Multi-State
• Control #: US-0196BG
• Format: Word; Rich Text

Description

Pursuant to this Agreement, Broker intends to refer to a corporate entity potential purchasers of real property. In return for referring potential purchasers to said corporate entity, it agrees to pay to Broker a referral fee under and upon the terms and conditions set forth in this Agreement. A North Carolina Broker Referral Agreement is a legal document that outlines the terms and conditions of a referral arrangement between real estate brokers in North Carolina. This agreement is important when a broker wants to refer a client to another broker or real estate professional in exchange for a referral fee. The agreement typically includes details such as the names and contact information of the referring broker and the receiving broker, as well as the client's information being referred. It also states the terms of the referral fee, including the percentage or flat fee amount and when it is due. In North Carolina, there are two main types of Broker Referral Agreements: 1. Intermediary Referral Agreement: This type of agreement is used when the referring broker wants to act as an intermediary between the client and the receiving broker. The referring broker remains involved in the transaction and assists with negotiations, paperwork, and other aspects of the deal. In this case, the referring broker is entitled to a higher referral fee percentage. 2. Non-Intermediary Referral Agreement: This type of agreement is used when the referring broker simply wants to refer the client to another broker without any further involvement in the transaction. The referring broker does not participate in negotiations or provide any additional services. As a result, the referral fee percentage may be lower compared to an intermediary referral agreement. Both types of North Carolina Broker Referral Agreements are regulated by the North Carolina Real Estate Commission (CREC) and must comply with the state's real estate laws and regulations. It is important for brokers to ensure that their agreements are clear, fair, and in accordance with the CREC guidelines to avoid any legal issues or disputes. In summary, a North Carolina Broker Referral Agreement is a crucial legal document that governs the referral relationship between real estate brokers. It establishes the terms and conditions of the referral arrangement and determines the referral fee to be paid. By using a well-drafted agreement, brokers can effectively refer clients within the state of North Carolina and ensure a smooth referral process.

A North Carolina Broker Referral Agreement is a legal document that outlines the terms and conditions of a referral arrangement between real estate brokers in North Carolina. This agreement is important when a broker wants to refer a client to another broker or real estate professional in exchange for a referral fee. The agreement typically includes details such as the names and contact information of the referring broker and the receiving broker, as well as the client's information being referred. It also states the terms of the referral fee, including the percentage or flat fee amount and when it is due. In North Carolina, there are two main types of Broker Referral Agreements: 1. Intermediary Referral Agreement: This type of agreement is used when the referring broker wants to act as an intermediary between the client and the receiving broker. The referring broker remains involved in the transaction and assists with negotiations, paperwork, and other aspects of the deal. In this case, the referring broker is entitled to a higher referral fee percentage. 2. Non-Intermediary Referral Agreement: This type of agreement is used when the referring broker simply wants to refer the client to another broker without any further involvement in the transaction. The referring broker does not participate in negotiations or provide any additional services. As a result, the referral fee percentage may be lower compared to an intermediary referral agreement. Both types of North Carolina Broker Referral Agreements are regulated by the North Carolina Real Estate Commission (CREC) and must comply with the state's real estate laws and regulations. It is important for brokers to ensure that their agreements are clear, fair, and in accordance with the CREC guidelines to avoid any legal issues or disputes. In summary, a North Carolina Broker Referral Agreement is a crucial legal document that governs the referral relationship between real estate brokers. It establishes the terms and conditions of the referral arrangement and determines the referral fee to be paid. By using a well-drafted agreement, brokers can effectively refer clients within the state of North Carolina and ensure a smooth referral process.