Referral fee
A share of the commission paid to an agent who sends a client to another agent, often 25% to 35%. It must be paid broker to broker.
Also called: referral, agent referral, referral agreement
Related terms
What agents are paid when a deal closes, usually a percent of the sale price. It's always negotiable. It goes to the brokerage, which pays the agent their share.
Moving to a new area, often for a job. Employers may pay for moving or home-sale costs through a relocation package or company.
The people an agent already knows: friends, family, past clients, neighbors. It's where most repeat and referral business comes from.
Placing your license with a brokerage so you can work under it. Moving to a new brokerage means transferring it, usually online with your state.