Dear Chris, I am a real estate agent at FL and I referred by the Florida Realtors form, the recommendation agreement, my client to another state real estate agent. Note that the recommendation agreement says «for every transaction» and also says «for every money received.» I knew that my client had made several transactions, which is why the recommendation was set at 50%. However, the recommendation agreement did not have an expiration date or a specific location for the transaction, so, to my knowledge, it is an open agreement. The first transaction was made and I was paid. Later, my client called me and told me that the agent in charge was not looking after them and that they wanted to sell and buy another house, so they left some time with someone else, another company, for their needs. After completing his representation to buy and sell with the other company, with no results, I resumed the relationship between my client and the agent I originally mentioned, and I asked the agent to take it seriously, because we still have this recommendation agreement. It was I who put them both in touch and the due diligence to ensure that my client was not yet under another representation, I also took the time to find their needs, and gave whole information to agent sent back before they (client and agent) reconnected, it was I who coordinated everything to take over this business, with the words in my written communications «We have the opportunity to repeat these clients» . House was sold, another was bought and evicted agent never contacted me until I later directly from my client, on transactions. Referred Brokerage never paid me a portion of the sales commission.
What are my possibilities here? Please also note that the recommendation was signed by the agent and referral agent broker. Many messages, emails and text messages can be shown as proof that my customers involve them back to them and follow the strategy. Can you give me your opinion? That`s a big question. Yes, you can get recommendations on rental commissions, but not all contracts are set up to make rental commissions, and sometimes these referral fees are quite small. Remember, your recommendations must go through your broker; in the table, the references are a no for most countries. Referral companies actually have very few sellers (if any) on employees, because all they really need is a broker to get and pay for our recommendations. These jobs are quite few and far between unfortunately! It`s tricky. On the one hand, you were very clear about the process and, without agreement, there is no legal obligation to pay a referral. On the other hand, if you get the impression that the transfer is not going to lead to potential lost income, because you lose the ability to turn people into repeat customers, that doesn`t seem wise either. Rock stars like Melissa actively use the benefits of real estate recommendation contracts as a central part of their lead-gen strategy – and they do so 100% sleaze-free. Hello, great read! As a real estate agent, can you make a reference to a residential complex or a house for someone who wants to rent instead of buy? How does this process and the common divisions work, if at all it is one thing. In her presentation at the 2017 Tom Ferry Summit, Melissa explains how building strong relationships with other agents netted her $151,000 in IG, all of which were agent-to-agent networking recommendations.
There is no legal or ethical rule regarding the withdrawal of a client`s recommendation. If you had some sort of buyer/exclusive broker agreement in place, that would be a different story, but unfortunately without any of them, you`re in luck here. One thing I have learned over the years is to stay in touch with the reference agent regarding the advancement of my work with clients who have approached it. This keeps everyone in the loop and works to fend off any surprises like this.