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Is there an average referal fee or percentage for other real estate agents that may help in a transaction , say while i was away on vacation?

By
Real Estate Agent with realestate.com

I have been working with this couple relocating to South Carolina, for the past two or three months, I have put a lot of time and work in with this couple and, I had to go out of town for a week! So I had a real estate friend, of mine who has been in the business 19yrs to help show them a few houses over the weekend she spent two maybe three days with them and maybe 80 bucks in gas?

 

If they make an offer on the house she showed which I am pretty sure they are! She is asking for 40 percent out of my cutt? Is the fair or normal?

 

I am new and think she may be taking advantage of this? is there a going rate for ref. such as these, I mean she wants almost half of what im getting and has spent maybe one weekend with them where i have spent nearly two months?

 

Just curious thanks!

Show All Comments
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Jason,  I know of agents who have agreements with other agents to cover for each other without a cut of any transactions which may result.  That said, 40 % sounds very high.  Perhaps having all this decided prior to the event would have helped.

Jul 07, 2008 05:22 AM
Rebecca Schrader
Competitive Insurance of Dundee - Dundee, FL

Well, she did in 3 days what you couldn't do in 2 months, on the one hand.  They are YOUR clients, on the other hand.  I don't think I would have done anything without setting up the split before she helped you.

Jul 07, 2008 05:23 AM
Pam Joffe
Solaris Realty - Tampa, FL

Good afternoon Jason - Next time, it is best to discuss the cut before you leave and agree on a  rate. On the other agent's behalf, referrals are often given at 25% with the other agent not doing much but giving you a client's name and phone number so compared to that with her working the couple for a couple of days 40% compares ok.

 

 

Jul 07, 2008 05:28 AM
Myra Jensen
BRIX Real Estate - Minneapolis, MN
MN Luxury & Lake Homes - www.LuxHomesMN.com

We did this for an agent friend of ours - my husband showed them houses, and he wrote the offer when he got back into town, he paid my husband 15% for his time and gas.  What works even better is to form a "buddy system" with someone in your office, where they help you and you help them, free of charge, so that you both can take some time off once in awhile.

40% sounds really high.  If she is only going to show them homes.  But did she write and negotiate and offer?  Who is going to manage it to closing?  You might want to talk to your broker to help you with this.

Jul 07, 2008 05:29 AM
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Myra took the words out of my mouth "talk to your Broker".   The other agent can ask for 40% but unless you had an agreement with her stating same, I don't feel you're obligated. 

Jul 07, 2008 05:42 AM
Rebecca Schrader
Competitive Insurance of Dundee - Dundee, FL

40% for two days work does seem pricey.  Would she pay you 40% if you are able to return the favor?

Jul 08, 2008 02:31 AM
Jason Robu
realestate.com - Mauldin, SC

UPDATE, my clients now want to buy and are making an offer today on a house, that I showed them when I returned back from vacation, I am handle the closing and negotiating, I feel I only owe the other agent maybe 200 bucks for workin with them 2 days. But I know after she finds out that they buy a house from me even if its not the one she showed them that she is going to want more, she told me when i first meet her her refer. fee was 25 perc... but then somewhere along the lines... not in writting though she wants 40 percent?

 

So we will see where this goes thanks for all your views on this.

Jul 13, 2008 03:56 AM
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