This Real Estate Agent Reference Agreement template is usually a legally binding agreement between an individual or business entity and an agent. It outlines the basic steps of referral, such as what the agent will do when a potential client referrals them to another company, the expectations of the potential client in relation to the agent, and how much compensation is to be paid for referring a potential client to the agent.
The template is used by a legal firm as a template for a Real Estate Agent Referral agreement, but it is not necessarily legal. Although there are many templates online, each one does have their own particularities which may affect the agreement itself. Therefore it is important to understand exactly what is covered under the agreement in question and to ensure that it is legal.
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The agreement is used to set down clearly defined terms between both parties, which include who should be contacted, the amount of compensation that the agent should receive for referring a prospective client, and the procedures that need to be followed in relation to referrals. It can also detail the responsibilities and obligations of both parties involved. The full agreement, including all the details of the agreement, will usually be filed with the relevant authorities, such as Companies House.
This template can be used to create the agreement for an individual agent. If an individual is seeking the services of an independent professional to assist them with the sale of their home, they could use a template for this type of agreement. By having an agreement in place between themselves and their new representative, they could make sure that their interests are being protected.
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The contract can also be used when an individual or business is looking to outsource a Real Estate Agent to perform the work for them. This can be especially beneficial for individuals who are unsure of how to handle the process on their own.
The templates that are available can vary widely and some may be suitable for a particular situation and not others. However, if an individual or business is looking for a document that is flexible enough to cover a wide range of situations, then they will need to search for an agreed upon template.
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Finding the right template will depend on the type of agreement that is required. Most template providers allow an individual to download the template and use it immediately. However, many have a provision in the place where new clients can download a copy of a template from their website prior to using it.
A template for a Real Estate Agent referral agreement will often be a legal document and will have specific legal clauses written into it. This is so that any misunderstanding between the parties involved can be clarified.
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If the document is to be used by an individual as a template for the agreements that they will require from their own representative, then it will normally contain information that relates to the individual Real Estate Agent. It may include information relating to how the representative is to be compensated, the manner in which compensation is to be made, and when compensation is due to the representative. The contract will also contain information relating to the duties of the agent, their responsibility for referrals and the time frames in which compensation should be made.
A template for a Real Estate Agent referral agreement will usually also contain provisions relating to the nature of the agreement itself. This means that the parties will have to enter into a contract specifying what they are required to do in order to be legally binding on the terms agreed.
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Some document providers also have provisions that provide the opportunity for the parties to include language that allows for the agent to be paid in commissions during the completion of the agreement. This is to ensure that the agent does not lose money while they are waiting to receive payments.
Any document which is being used as a template for a Real Estate Agent referral agreement will also usually include a section that is intended to detail the responsibilities of both the agent and the company involved. It is common for these sections to state the duration in which an agreement can be made.