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.
Philadelphia Pennsylvania Referral Agreement — Sharing of Commission – Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor A Philadelphia Pennsylvania Referral Agreement is a legally binding document that outlines the terms and conditions between a real estate broker and a real estate salesperson, agent, or realtor in Philadelphia, Pennsylvania. The agreement governs the referral of clients, leads, or potential business opportunities, and the subsequent sharing of commission. In Philadelphia, there are various types of referral agreements that can be established between real estate brokers and salespersons, agents, or realtors. These agreements may vary based on the specific terms agreed upon, the scope of the referral, and the commission sharing arrangement. Here are some common types of referral agreements: 1. Client Referral Agreement: This type of referral agreement is established when a real estate salesperson, agent, or realtor refers a client to another real estate broker. The referral may be made due to geographical constraints, lack of expertise in a specific property type, or any other relevant reason. The agreement specifies the commission sharing ratio between the referring salesperson/agent/realtor and the receiving broker upon successful completion of the transaction involving the referred client. 2. Lead Referral Agreement: In this type of referral agreement, a real estate salesperson, agent, or realtor refers a potential lead or contact to another real estate broker. The referral could be based on a general interest expressed by the lead or preliminary discussions that indicate potential business. The agreement defines the commission sharing arrangement between the referring party and the receiving broker if the lead converts into a successful transaction. 3. Exclusive Referral Agreement: An exclusive referral agreement is established when a real estate salesperson, agent, or realtor agrees to exclusively refer clients or leads to a particular real estate broker for a specific period or within a defined territory. The agreement typically includes provisions for non-compete and exclusive rights to referrals. The Philadelphia Pennsylvania Referral Agreement also encompasses various key elements such as the duration of the agreement, termination clauses, confidentiality obligations, dispute resolution mechanisms, and any additional terms agreed upon by both parties. It is crucial for both the broker and the salesperson/agent/realtor to thoroughly review and understand the terms of the agreement before signing to ensure a fair and mutually beneficial collaboration. In conclusion, a Philadelphia Pennsylvania Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor facilitates the seamless referral of clients or leads between real estate professionals in Philadelphia. These agreements aim to establish a transparent framework for commission sharing and foster a mutually beneficial relationship between the participants.Philadelphia Pennsylvania Referral Agreement — Sharing of Commission – Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor A Philadelphia Pennsylvania Referral Agreement is a legally binding document that outlines the terms and conditions between a real estate broker and a real estate salesperson, agent, or realtor in Philadelphia, Pennsylvania. The agreement governs the referral of clients, leads, or potential business opportunities, and the subsequent sharing of commission. In Philadelphia, there are various types of referral agreements that can be established between real estate brokers and salespersons, agents, or realtors. These agreements may vary based on the specific terms agreed upon, the scope of the referral, and the commission sharing arrangement. Here are some common types of referral agreements: 1. Client Referral Agreement: This type of referral agreement is established when a real estate salesperson, agent, or realtor refers a client to another real estate broker. The referral may be made due to geographical constraints, lack of expertise in a specific property type, or any other relevant reason. The agreement specifies the commission sharing ratio between the referring salesperson/agent/realtor and the receiving broker upon successful completion of the transaction involving the referred client. 2. Lead Referral Agreement: In this type of referral agreement, a real estate salesperson, agent, or realtor refers a potential lead or contact to another real estate broker. The referral could be based on a general interest expressed by the lead or preliminary discussions that indicate potential business. The agreement defines the commission sharing arrangement between the referring party and the receiving broker if the lead converts into a successful transaction. 3. Exclusive Referral Agreement: An exclusive referral agreement is established when a real estate salesperson, agent, or realtor agrees to exclusively refer clients or leads to a particular real estate broker for a specific period or within a defined territory. The agreement typically includes provisions for non-compete and exclusive rights to referrals. The Philadelphia Pennsylvania Referral Agreement also encompasses various key elements such as the duration of the agreement, termination clauses, confidentiality obligations, dispute resolution mechanisms, and any additional terms agreed upon by both parties. It is crucial for both the broker and the salesperson/agent/realtor to thoroughly review and understand the terms of the agreement before signing to ensure a fair and mutually beneficial collaboration. In conclusion, a Philadelphia Pennsylvania Referral Agreement — Sharincommissionio— - Between Real Estate Broker and Real Estate Salesperson or Agent or Realtor facilitates the seamless referral of clients or leads between real estate professionals in Philadelphia. These agreements aim to establish a transparent framework for commission sharing and foster a mutually beneficial relationship between the participants.
