What kind of agreement do I need to get paid on a ongoing basis for introducing a real esate broker to a cash buyer?

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What kind of agreement do I need to get paid on a ongoing basis for introducing a real esate broker to a cash buyer?

Asked on September 20, 2012 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

It can be a very simple agreement simply indicating that if the broker sells a home to a buyer you introduce him/her to, the broker will pay you whatever the amount is--the whole thing can be as short as 1 - 3 paragraphs, stated in plain english. Simply figure out what the agreement is--exactly--and then spell it out--exactly; make sure you also spell out when you will be paid and how (e.g. by money order; by check; etc.); what happens if the buyer ends up not going through with the sale; and whether you are entitled to any attorneys fees or other costs if you need to take legal action against the broker to enforce it.


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