About five years ago I received a buyer referral from an agent and paid a 25% referral fee at closing. Nothing fancy, no formal agreement, just a handshake between two agents.
I've maintained a relationship with this buyer since then, and yesterday he called saying he's considering selling, and moving into a one level condo.
The original agent who made the referral has not maintained any contact with him, but is still active in real estate.
I’ve never run into this before and was wondering if there is any sort of standard, implied or otherwise, regarding paying a second referral fee, if he decides to move?
I'm not opposed to paying something reasonable, but have never had any experience in this area.
I'd like your thoughts.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
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