No. of Recommendations: 1
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.

http://info.sos.state.tx.us/pls/pub/readtac$ext.TacPage?sl=R...

(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.

Curiously, JAFO
Print the post  

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement