How do referral fees work once obtaining a real estate license?

**CLTinvestor** · 03-11-2011, 05:33 PM

I'm currently an investor and since I'm already networking with a lot of agents in my town and passing out leads quite often, I'm just wondering how referral fees work once you are have your real estate license. I'm in NC if its state specific and basically wondering if I would get paid for a referral once I have the license?

Thanks

**Greg** · 03-12-2011, 05:05 AM

You have to hang your license with a broker and the broker gets paid when the property closes. The broker then pays you. Make sure you get it in writing because some agents tend to forget these things if the transaction takes longer than usual to close.

**CLTinvestor** · 03-12-2011, 08:15 AM

Thanks for the response Greg. So all leads need to get passed through a BIC first? Is this the same process if I've gotten a broker's license instead of a basic RE license?

Thanks

**homeprobuyersguide** · 03-15-2011, 04:50 PM

I was just involved in a real estate transaction where I am to pay 25% of the commission to the real estate company that supplied me with a referral when it closes. I think that is typical.

**jessicacole** · 05-02-2011, 03:50 PM

I agree with Greg You have to make sure that the agreement is in writing so once the deal is closed and the broker refused to pay you, you have a legal claim for it because of the writing.