VIC Referral fee arrangements

Hi all

I didn't know where else to post so i am posting it in this section.

What are some of referral fees arrangement that people here have in place when referring a new client to a service?
- client buy a property from the agent you referred to
- client sell a property with the agent you referred to
- client signed on with the PM that you referred
- solictors/conveyancers
- deprecition companies
- etc

Keen to know what is fair, not good or good.

 

I've given and received hundreds of referrals to some of the aforementioned professionals and quite a few more. When I started out I did pay a referral fee to another broker who had business he couldn't handle and I had no other way of reciprocating. Otherwise I've never paid a referral fee, never received one. I make referrals to others because I appreciate and respect the work they do and the relationship I have with them. Money only contaminates the relationship.

 

nil is fair.

 

When we were in business it was just goodwill.

edited to add our business was not property related

 

Also a non property related business, for the first 6-9 months offered a spotters fee on leads that panned out to sales while getting the business off the ground but after that it was about building good relationships, no fee for recommendations or referrals and that works both ways