REFERRAL AGREEMENT TERMS
Upon each successful closing, all referral fees are to be promptly sent to:
HomeRoute Real Estate Services,
5424 E. Grand River, Suite 103, Howell, MI 48843
Fed Tax ID#:38-3365323
MI Broker License # 6505288167
- Per participation in the HomeRoute Referral Partner Network, HomeRoute Real Estate Services (hereinafter "HomeRoute") enters into a referral agreement with AGENT NAME (hereinafter "Agent") to provide real estate services on a referral basis to home buyers and sellers whom we qualify through consumer inquiries into our real estate company.
- Agent agrees to provide HomeRoute with updates, apprising HomeRoute of the status of all referrals periodically through a web-based contact management system.
- Agent agrees to notify HomeRoute immediately upon purchase contract acceptance, with estimated closing date and estimated sale price.
- Referral Fee In the event a referred client buys and/or sells property through real estate services provided by Agent, Agent hereby agrees to pay to HomeRoute Real Estate Services a 25% referral fee upon close of escrow, payable from gross commissions due Agent for the side(s) of the transaction(s) that Agent represents on behalf of the referred client. Gross commission is the amount collected before franchise fees, agent splits, MLS fees or other deductions. This referral fee is due and payable at the close of escrow and shall be sent directly to HomeRoute. Upon reasonable advance notice, HomeRoute may, from time to time, review the portion of Agent’s books and records which relate to the applicable transactions of referred clients. Referral fees shall be paid on all real estate business Agent conducts with referred clients for a period of two (2) years after initial referral.
- Relocation Company In the event that a referred client is required by their employer to utilize the services of a relocation company and the Agent is selected by the relocation company to represent the employee, HomeRoute will waive the 25% referral fee, however, will receive a $250 finder’s fee from the Agent in lieu of the 25% referral fee at closing.
