5,104,931
My backup is my husband, who is licensed, and who will step in when properties need to be shown. I can write offers and negotiate from anywhere. I don't pay him anything. I just bring checks home. (By the way, what this tells you is that I don't take "real" vacations, per se.) Anytime I am going away for longer than 3 or 4 days, all my clients (best or not) are reminded of this well in advance and they've always worked around me.
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Allie Angeloni
Oro Valley, AZ
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Susan Laxson CRS
La Quinta, CA
-
Lyn Sims
Schaumburg, IL
2,684,009
Referral Fee.
If the agent writes a contract, I take the referral fee.
If the agent just keeps the client alive until I return, they get the referral fee.
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Lise Howe
Washington, DC
-
Allie Angeloni
Oro Valley, AZ
-
Greg Large
Grove City, OH
3,626,530
Usually a 30% compensation however, one must remember what goes around comes around. It needs to be in writing. On the second part of the question it all depends
-
Lise Howe
Washington, DC
-
Lyn Sims
Schaumburg, IL
-
Nina Hollander, Broker
Charlotte, NC
643,975
have an agent that we cover for each other, depending on activity, settle up when transaction closes much like Fred Griffin mentioned.
-
Allie Angeloni
Oro Valley, AZ
-
Fred Griffin Florida R...
Tallahassee, FL
3,071,489
Fred Griffin nailed this one...
-
Fred Griffin Florida R...
Tallahassee, FL
3,344,906
What Fred Griffin said. Or whatever else might have been agreed to.
-
Fred Griffin Florida R...
Tallahassee, FL
1,452,669
I can't imagine any of my clients having a Real Estate Emergency - certainly not one that cannot wait a few days.
-
Susan Emo
Kingston, ON
2,781,123
Nothing is TOO good for anyone who protects my interests. We will explore the world of HAPPY in detail until it is so
-
Allie Angeloni
Oro Valley, AZ
716,049
I manage a team, so I always have someone available and we don't exchange fees based on reciprocity. But if I'm gone for a while, and the file ends up being 'entirely' managed by a team member, then it would be like a referral fee back to the originator. The answer would be more like... it depends.
-
Allie Angeloni
Oro Valley, AZ
1,543,613
This is my actual agreement:
Gas gift card for a few houses no results, "a few" is an agreed upon number prior to starting. ($50-$100.00 typically).
5% for no results, but lots of touring.
25% for offer & opening escrow.
50% if they cover all inspections too.
So, it depends for me how much time they put in and keeping them happy to cover for me in the future. The value of not checking in while on vacation is priceless.
-
Allie Angeloni
Oro Valley, AZ
3,416,038
It should be agreed upon before asking them to take out your clients and specifyboth if they buy and if they do not. Usually if they dont buy its zero to a 1/4 if they do it is half.
-
Lyn Sims
Schaumburg, IL
900,118
Refer or work out an arrangement in advance. If nothing happens before you get back, maybe a nice dinner or gift card?
4,319,419
William Feela - better to discuss this upfront.
And this compensation can be anything....
2,443,250
I would say they would owe you a referral fee, what ever is fair and reasonable in your market.
Second answer, I would probably pay them the same fee. They did jump in while you were away.
2,707,721
My team handles transactions and clients for one another if anyone is out. Favor in and favor out...keeps things running smoothly
2,362,595
2,224,473
In my office we work to help each other out. I have spent a lot of time with buyers working with another agent in my office. I haven't been compensated, but the same happens to me when I need someone to cover me.
3,383,334
I actually have two agents locally that help me, and I help them, with no fee whatsoever. It's the old, "I'll scratch your back, if you scratch mine," method and works beautifully.
3,988,007
It depends on how much time and how many houses and days they worked together. We might just do a 50/50 when I return and I take over or I might back out and take a referral if they want to continue to the finish line.
4,272,548
I called an agent for help from Hawaii, he did a great job, and when I asked him wanted in compensation; he told me he wanted to bags of Macadamia Nuts. He got that and a dinner out for two!
2,810,149
Hi William - Our mutually acceptable deal with our regular backup - who we cover as well when she goes on vacation - is that we don't pay each other - but we do usually bring back really nice presents from our trips.
3,727,873
It depends - sounds like I'd take over when I got back and we would split it.
1,712,676
1,725,996
We would give them the client and take a referral with the selling agent taking the lion's share. If they do not sell the client, we still will compensate them for their effort depending on the time spent. 25% down
1,502,898
If they've already seen the house, I can do the paperwork remotely. Worst case, I'll get my broker to help out.
6,392,929
Share the commission, and if they dont succeed then it is like any other deal that falls through.
4,935,567
5,048,748
290,969
They would get a 25% Referral Fee when the deal is put together, and if it is not a sale or purchase, though time was still spent, they would be getting a Gift Card, or something comparable, as I view each situation on it's own merit William Feela. And in alot of situations here, when agents fill-in for other agents, there is not even a Gift Card or Note, because the filling-in is reciprocal, and sometimes there is not alot required.
1,617,916
206,062
1,466,207
William Feela If a deal is put together, I would take a referral fee. If they didn't purchase anything while I was away, I would give the agent a referral fee. Details of the agreement worked out ahead of time.
1,239,801
Probably 100% to that agent. I will not bother as a referral agent. Not worth my time.
232,019
Depends - but our team works together and does it gratis since we all need time off sometime
444,170
Always discuss this with your "sub" ahead of time! I pay $25/hr for agent help, $50 minimum per outing, and $250 to write up an offer.
2,161,048
989,652
Depends - if they're on my team they do it for free as we all back each other up, if it's not my team I offer them a referral
5,216,353
5,583,278
1,325,299
911,228
It depends. Maybe $50.00 per hour if they don't find them a property while I'm gone. If they do find them a property, 25% referral fee.
823,579
I have associates/friends and we help each other when we are out of town and split 50/50 the transactions.
4,434,127
846,475
Scenario #1-split the commission.
Scenario #2-the other agent saw some new properties gained some kind of experience possible. Once I am back and I sell "said" best client something I would take other agent to lunch to show appreciation. That's it.
1,513,143
I have an agent that we work back and fourh to take care of clients; generally the referer gets 25%.
4,571,967
This should be discussed in advance, agreed by both parties and then put it in writing.
1,844,271
Would have made that arrangement before vacation. Our brokerage now enforces all these in writing between the agents.
I would say 50/50 or a referral depending on the time.
2,182,502
We had a saying at our office - It's worth a heck of a lot more than just a box of salt Water Taffy !!!