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.
Houston Texas Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor A Houston Texas Referral Agreement is a legally binding document that outlines the terms and conditions of commission sharing between a real estate broker and a real estate salesperson, agent, or realtor. This agreement is commonly used when a real estate agent refers a client to another agent or broker in exchange for a percentage of the commission earned from the referred transaction. There are different types of Houston Texas Referral Agreements, and they can vary based on specific terms and conditions agreed upon by the parties involved. Some common variations include: 1. Referral Fee Agreement: This type of agreement specifies the percentage or fixed amount of the commission that the referring agent will receive when a transaction is successfully closed by the referred agent. The agreement also outlines the conditions under which the referral fee will be paid, such as upon the closing of the referred transaction. 2. Exclusive Referral Agreement: In an exclusive referral agreement, the referring agent agrees to exclusively refer clients to a specific broker or salesperson. This type of agreement ensures that all referrals made by the referring agent will be directed to the designated party, and the referring agent will receive the agreed-upon referral fee for each closed transaction. 3. Non-Exclusive Referral Agreement: A non-exclusive referral agreement allows the referring agent to refer clients to multiple brokers or salespersons. However, the agreement still specifies the referral fee percentage or fixed amount that the referring agent will receive for each successful transaction closed by any of the referred parties. 4. Duration of Agreement: Referral agreements can also differ based on their duration. Some agreements may be for a fixed period, such as six months or a year, while others may be open-ended and remain in effect until either party terminates the agreement with appropriate notice. 5. Termination Clause: The Houston Texas Referral Agreement may include a termination clause that defines the conditions under which the agreement can be terminated by either party. This clause usually outlines the notice period required and any penalties or consequences for early termination. It is essential to clearly define all terms and conditions in a Houston Texas Referral Agreement to avoid any misunderstandings or legal disputes. Both the broker and the referring agent must carefully review the agreement and ensure that all provisions align with their mutual expectations and comply with relevant real estate laws and regulations in Houston, Texas.Houston Texas Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor A Houston Texas Referral Agreement is a legally binding document that outlines the terms and conditions of commission sharing between a real estate broker and a real estate salesperson, agent, or realtor. This agreement is commonly used when a real estate agent refers a client to another agent or broker in exchange for a percentage of the commission earned from the referred transaction. There are different types of Houston Texas Referral Agreements, and they can vary based on specific terms and conditions agreed upon by the parties involved. Some common variations include: 1. Referral Fee Agreement: This type of agreement specifies the percentage or fixed amount of the commission that the referring agent will receive when a transaction is successfully closed by the referred agent. The agreement also outlines the conditions under which the referral fee will be paid, such as upon the closing of the referred transaction. 2. Exclusive Referral Agreement: In an exclusive referral agreement, the referring agent agrees to exclusively refer clients to a specific broker or salesperson. This type of agreement ensures that all referrals made by the referring agent will be directed to the designated party, and the referring agent will receive the agreed-upon referral fee for each closed transaction. 3. Non-Exclusive Referral Agreement: A non-exclusive referral agreement allows the referring agent to refer clients to multiple brokers or salespersons. However, the agreement still specifies the referral fee percentage or fixed amount that the referring agent will receive for each successful transaction closed by any of the referred parties. 4. Duration of Agreement: Referral agreements can also differ based on their duration. Some agreements may be for a fixed period, such as six months or a year, while others may be open-ended and remain in effect until either party terminates the agreement with appropriate notice. 5. Termination Clause: The Houston Texas Referral Agreement may include a termination clause that defines the conditions under which the agreement can be terminated by either party. This clause usually outlines the notice period required and any penalties or consequences for early termination. It is essential to clearly define all terms and conditions in a Houston Texas Referral Agreement to avoid any misunderstandings or legal disputes. Both the broker and the referring agent must carefully review the agreement and ensure that all provisions align with their mutual expectations and comply with relevant real estate laws and regulations in Houston, Texas.
