I think it might depend on the type of contract you had with the real estate management company you were working for when you made the transfer, as I understand your situation. In other words, since you are now a licensed agent, you can always fill out a referral form now and go through the right channels, provided your help continues on the recommendation after you have been licensed… But I`m far from being a lawyer, so you want to call NAR and see what they say. In order to benefit from and obtain the recommendation incentive, the participant must be employed or employed by a registered and licensed contractor in Queensland. While this seems to be a basic management strategy with no prior fees, remember that you pay enough for these leads. A recommendation that acquires a $250,000 home with a 3% commission will cost you $1,875. It`s a juicy cost per lead, especially if you keep in mind that properly placed ads from anywhere like BoldLeads can give you the same exclusive lead for much less cost. Look at BoldLeads to see if your zip code is available. If you have never worked on a commercial transaction, you may not be entitled to provide advice to your clients on prices, negotiations or closing terms, as best practices in residential real estate may not apply to commercial or industrial real estate. A transfer to an experienced commercial and commercial real estate agent would therefore be the best option for your client. If an agent has a reasonable right to pay a commission, in my opinion, the payments of the brokers should be.
In the long run, they will lose far more than they will earn in a single recommendation commission. First of all, if your boilerplate recommendation agreement does not have an expiration date, it will need it. Agreements that are “open” are bad for everyone; they confuse compensation and accountability to clients. In the future, I would suggest adding a date to these agreements and all the agreements you now actively and outside, you should consider adding them a sunset with an extra charge. It`s a good article. very informative and eye-opening. I apologize if I miss a little earlier in the comments, but I wonder if you could respond to how Referral Exchange and OpCity work legally within the limits of the broker-to-broker recommendation contract.