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Referral Fees, Associate Costs & Settlement Information

UPON SETTLEMENT OF A TRANSACTION RESULTING IN A COMMISSION

  • The receiving broker will pay a referral fee to PenFed Realty Referral Company, LLC as agreed by the written fee agreement.

  • PenFed Realty Referral Company, LLC will issue a check to the Referral Associate for their portion of the fee earned.

  • If a transaction has not occurred involving the referred individual(s), the Referral agent shall not be entitled to a referral fee.  If PenFed Realty Referral Company, LLC elects to discontinue efforts with respect to any referred party, it shall be free to do so and shall notify the Referral Associate of such decision.

REFERRAL FEES

  • Referral fees received from outside brokers or Berkshire Hathaway HomeServices PenFed Realty are typically 25% of the gross commission on the action referred side. For referrals assigned to a BHHS PenFed Realty agent PenFed Realty Referral Company, LLC will pay the Referral Associate 75% of the received referral fee (after royalty fees have been deducted) on the first transaction closed in the renewal year and 90% of the second and subsequent transactions are paid in the renewal year.

  • Referral assigned to an outside brokerage agent PenFed Realty Referral Company, LLC will pay the Referral Associate 70% of the referral fee (after royalty fees have been deducted) on the first transaction closed in the renewal year and 85% of the second and subsequent transactions are paid in the renewal year.

  • All determination with respect to commission entitlements shall be made by PenFed Realty Referral Company, LLC, at its sole discretion.

PLEASE NOTE: Should a referred party be associated with a relocation assistance or a personal enrichment program where a referral fee is required, the referral may be rejected, and PenFed Realty Referral Company, LLC will not collect a fee, and the referral agents will not be paid.

REFERRAL ASSOCIATE COSTS

All Referral Associates are independent contractors and shall be responsible for all their expenses,
including but not limited to the following:

  • All fees as required by the appropriate Real Estate Commission.

  • All automobile expenses, including insurance.

  • Any other expenses incurred as a result of their real estate activities.

  • All continuing education as required by the state of licensure for license renewal.

ANNUAL MEMBERSHIP FEE
The PenFed Realty Referral Company, LLC charges all its members an annual administrative fee of $99.00. This is due July 1st of each year and covers the 12-month period from July 1st through June 30th.


DUES WAIVER
If a Referral Associate has at least 1 buyer/seller referral settled and paid during the previous 12 months (July 1st - June 30th) billing period, the Referral Associate will be exempt from paying the administrative fee for the next billing period.

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