A PA-licensed agent assists a client who is selling a PA property and buying a property in another state. For the out-of-state purchase, the PA agent refers the client to a local agent. What is the typical referral fee arrangement?
Correct Answer
A) A negotiated percentage of the cooperating commission, typically ranging from 20-35%
Referral fees are negotiable between the cooperating brokers. The typical range is 20-35% of the cooperating broker's commission, but the exact amount is agreed upon between the PA broker and the receiving broker.
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