Referral Agreements: Referral to another Broker OR another DW agent

Referral Agreements: Referral to another Broker OR another DW agent

Referral Agreements are always recommended when you are referring a prospect to another agent.  It confirms mutual understanding.  This is true whether you are referring a prospect to another broker or to another agent at Dalton Wade.  Here is how to do it:

 

Referral to another Broker (the other agent does not a Dalton Wade agent):

For referrals you just need to create a Loop and a CDA like any other transaction. 

Steps to creating your loop using the “Referral to Another Broker” Loop Template

1.      Add loop

2.      Name your loop, something like this: Jane Doe referral to Clara Smith with Camelback Realty in Phoenix, AZ

3.      Choose the "REFERRAL: To another Broker Loop"  template

4.      It is a simple loop, these items will be there for you automatically. 

a.       Referral agreement (Phil signs this agreement) required

b.      your CDA required

c.       ALTA: so we can reconcile the check with the referral agreement. Required

d.      W-9 Provided to you in case the other brokerage asks for it.

e.       You will still submit for review to get the CDA approved and we will pay you off of the Broker signed CDA.

 Referral to another agent at Dalton Wade.

1.      They should add the referral agreement to their loop for this transaction.

2.      For example, if you are referring a buyer:

a.       They will create a loop using the Buy Side Residential loop template

b.      They will add the referral agreement to the initial docs.

c.       Both Dalton Wade Agents should sign the internal referral agreement. 

d.      If the client was a referral from Dalton Wade, referral fees will still apply.

How to find the blank Referral Agreement (FAR RA-3 in Dotloop:

 

  1. Go to your Initial Docs Folder
  2. Click add document (to the right of the folder name)
  3. Click templates
  4. Scroll the down the list of folders on the left to Common Addenda
  5. Click Common Addenda
  6. Scroll to form named: Referral Agreement (FAR RA-3)
  7. Click the checkbox next to the form name
  8. Click copy


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