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Personal Finances / Buying or Selling a Home
|Subject: Re: Five day home sale||Date: 5/29/2013 7:11 PM|
|Author: JAFO31||Number: 125411 of 127679|
inparadise: "When an agent refers a client to another agent, they get a negotiated fee. In the agency I worked in, it was typically 25% of the commission the referral agent would get. This may vary based on state regs and agency practices.
having collected that fee more than once, but for referring my sellers to an agent in the area they wished to purchase and in which I was not licensed"
If you were not licensed in that area, is that not an unauthorized fee split?
It would be in Texas.
(a) Except as otherwise provided by the Act or Rules, a broker or salesperson may not share a commission or fees with any person who engages in acts for which a license is required and is not actively licensed as a broker or salesperson. [emphasis added]
(d) It is not a violation of this section for a licensee to rebate or pay a portion of the licensee's commission or fees to a party in the transaction. . . . A licensee who intends to pay a portion of the licensee's fee or commission to a party the licensee does not represent must obtain the consent of the party represented by the licensee prior to making the payment.
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