When you do a referral for a Buyer or Seller here is how it breaks down:
First, you find an active Sales Rep or Broker that you want to work with and negotiate your referral fee! You sign a Referral Agreement so it's all in writing!
Next, when the Buyer buys, or the Seller sells, the agreed percentage is sent to Lesley E. Moll, Real Estate Brokerage.
You recieve a cheque for 90% of the referral fee and the Brokerage gets 10%.
Example:
You do a referral for a Seller at 25%. The agent lists the house for $499,900 at 5% commission with 2.5% payable to the selling Brokerage.
The house sells for $490,000.00
Sale Price: $490,000
Commission Payable: $24,500
Listing Brokerage Portion: $12,250
Selling Brokerage Portion: $12,250
Referral Commission Owed: $3,125
Brokerage Commissio: $312.50
Your Portion on closing at 90%: $2,812.12