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 Pennsylvania Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor is a legally binding document that outlines the terms and conditions for sharing commissions between a broker and a real estate salesperson/agent/realtor when referring clients. In Pennsylvania, there are several types of referral agreements based on specific circumstances: 1. Standard Referral Agreement: This is the most common type of referral agreement, where a real estate salesperson/agent/realtor refers a client to another real estate professional or brokerage, and a commission percentage is agreed upon for the referring party. 2. Intercompany Referral Agreement: This agreement is used when a referral is made within the same real estate brokerage or company. For example, if one agent refers a client to another agent within the same brokerage, a commission sharing agreement is set up. 3. Intergroup Referral Agreement: This agreement is used when a referral is made between different real estate brokerages or companies. When an agent from one brokerage refers a client to an agent from another brokerage, a commission sharing agreement is established. The Pennsylvania Referral Agreement should include the following key information: 1. Parties: Clearly state the names and contact information for the referring real estate salesperson/agent/realtor and the receiving real estate broker. 2. Client Information: Provide details about the referred client, including their names, contact information, and any relevant property details. 3. Referral Fee: Specify the commission percentage or flat fee that the referring party will receive for the referral. This should be clearly stated to avoid any conflicts or misunderstandings. 4. Commission Payment: Outline the method and timeline for commission payment, whether it will be paid directly to the referring party or through the respective brokerages. 5. Referral Responsibilities: Define the expectations and responsibilities of each party regarding the referred client, such as follow-up communication, client servicing, and keeping the referring party informed about the transaction progress. 6. Termination Clause: Include a clause that details the conditions under which the referral agreement can be terminated by either party. This should also include any provisions for dispute resolution. 7. Legal Compliance: State that both parties agree to comply with all applicable state and federal real estate laws and regulations. It's important to consult with a qualified attorney to ensure that the Pennsylvania Referral Agreement complies with all relevant state laws and protects the interests of both the referring party and the receiving broker.A Pennsylvania Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor is a legally binding document that outlines the terms and conditions for sharing commissions between a broker and a real estate salesperson/agent/realtor when referring clients. In Pennsylvania, there are several types of referral agreements based on specific circumstances: 1. Standard Referral Agreement: This is the most common type of referral agreement, where a real estate salesperson/agent/realtor refers a client to another real estate professional or brokerage, and a commission percentage is agreed upon for the referring party. 2. Intercompany Referral Agreement: This agreement is used when a referral is made within the same real estate brokerage or company. For example, if one agent refers a client to another agent within the same brokerage, a commission sharing agreement is set up. 3. Intergroup Referral Agreement: This agreement is used when a referral is made between different real estate brokerages or companies. When an agent from one brokerage refers a client to an agent from another brokerage, a commission sharing agreement is established. The Pennsylvania Referral Agreement should include the following key information: 1. Parties: Clearly state the names and contact information for the referring real estate salesperson/agent/realtor and the receiving real estate broker. 2. Client Information: Provide details about the referred client, including their names, contact information, and any relevant property details. 3. Referral Fee: Specify the commission percentage or flat fee that the referring party will receive for the referral. This should be clearly stated to avoid any conflicts or misunderstandings. 4. Commission Payment: Outline the method and timeline for commission payment, whether it will be paid directly to the referring party or through the respective brokerages. 5. Referral Responsibilities: Define the expectations and responsibilities of each party regarding the referred client, such as follow-up communication, client servicing, and keeping the referring party informed about the transaction progress. 6. Termination Clause: Include a clause that details the conditions under which the referral agreement can be terminated by either party. This should also include any provisions for dispute resolution. 7. Legal Compliance: State that both parties agree to comply with all applicable state and federal real estate laws and regulations. It's important to consult with a qualified attorney to ensure that the Pennsylvania Referral Agreement complies with all relevant state laws and protects the interests of both the referring party and the receiving broker.
