Referral Fee Agreements

Question: How are outgoing referrals handled? For example, if I refer a transaction to another brokerage and they agree to pay me a 25% referral fee?

Referral paperwork requires broker signature. We require fully executed referral agreements whichever document you use. This document must be submitted through updatebroker.com.

On referral commission you receive, we only charge your transaction fee OR 10% (Whichever is LESS). 

Ultra High Value Property referrals incur an additional fee of 1.5% of the total referral commission on commission amounts of $20,000 or more. This will usually only apply to referrals of properties more than $3 million. 

Referral fee agreements must be reported at updatebroker.com