Referral agreements are used by and between companies or individuals where either one of them introduces one or more (prospective) clients or channels to the other, in exchange for a commission for the effort done. With a referral, it is meant a recommendation; a request; or an action of providing testimonials about a certain person, business, services or products.
A referral agreement discusses the response to requests and references to the referral forms that were sent to you. It consists of information that states the conditions that determine this referral. Often the following conditions are a point of discussion: how to define a decent referral fee percentage? And will this Referral percentage be calculated over the gross or net profit, or the project turn-over? This agreement can be used to set terms between a company and a referral partner that will be earning a commission on the sales of services or products to (prospective) customers. These are good questions to discuss with the company that will start cooperation due to the fact you are an intermediary that introduced them to each other.
In order for a referral fee to be considered earned all of the following conditions must first be satisfied: (i) a standard form of contract for purchase and sale of Real Property (herein “Sales Contract”) as prepared by the Developers must be fully executed by the prospective purchaser, and one of the Developers, as seller for Real Property at the Development (ii) the fully executed Sales Contract must be procured by Referring Agent (iii) the Sales Contract shall provide for settlement and conveyance of such Real Property within one-hundred eighty (180) days following the date of the Registration of such prospective purchaser and acceptance thereof by Realty, herein considered the expiration of the Registration period (iv) no delay in closing shall be caused by acts of the purchaser unless consented to by one of the Developers (v) no default by purchaser shall have occurred under the Sales Contract, nor shall purchaser have failed to close for any reason and (vi) the total purchase price under the Sales Contract has been paid by purchaser without reduction or set-off.. Broker of Record: License : REFERRING AGENT Date: Print Name: Title: Agreed and approved by:Company Date: Print Name: Title: EXHIBIT “A” AGENT REFERRAL REGISTRATION Date: Sales Representative: Referring Real Estate Brokerage Company: Referring Agent: Address: Country/State: City: Telephone: Postal/Zip Code: (Home) (Work) (Cell) (Fax) Referral Name(s): Address: City: Telephone: Country/State: (Home) (Work) (Cell) (Fax) E-mail: Comments: Referral Name(s): Address: Postal/Zip Code: City: Telephone: Country/State: Postal/Zip Code: (Home) (Work) (Cell) (Fax) E-mail: Comments: Date: Submitted by: Referring Agent.
Check out this professional agreement sample that might help you to create a suitable referral agreement. It covers the most important subjects and will help you to structure and communicate in a professional way with the company that will start a cooperation with your connection(s).
Using this easy-to-modify Agent Referral Agreement helps to make a perfect document for any kind of personalized legal matter. Download this professional Agent Referral Agreement template now and save yourself time, efforts and possibly reduce the lawyer-fees in order to become more successful.
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