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21
Posts
9
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Gabe Capoferri
  • Real Estate Agent
  • Scarborough Maine
9
Votes |
21
Posts

What happens to my internal referral agreements if I leave my broker?

Gabe Capoferri
  • Real Estate Agent
  • Scarborough Maine
Posted

I am planning to leave my current brokerage. 

To make a long story short, I am referring a subdivision project to my DB for a referral fee. The agreement states that "This agreement is entered into by and between Gabe Capoferri  of "Brokerage Name" and..." 

If I leave my brokerage, is my referral agreement no longer valid because the agreement states my old brokerage and not my new brokerage? 

User Stats

17,253
Posts
29,756
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Russell Brazil
Agent
  • Real Estate Agent
  • Washington, D.C.
29,756
Votes |
17,253
Posts
Russell Brazil
Agent
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Referral agreements are broker to broker. You will need to read your ICA, Independent Contractor Agreement to see what happens to your pending sales and referrals if you leave before they close. 

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4,880
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4,242
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
4,242
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4,880
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied

Can you cancel it and get a new agreement with the new broker?

Do you have any current contracts that have not closed?

If so those might go to the old broker who could split them with you, not split them, or come up with a new split.  Some brokers are super nice and let your clients that are not under contract transfer with you.  Some keep your current split on active contracts and some may come up with a new split favorable to them.

Best to work it out with the current broker.  Always leave on good terms.  You could very well work with them again.

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