Real estate referral glossary

Compensation paid when one licensed real estate professional refers a client or transaction opportunity to another licensed professional and the referred transaction closes.

A written agreement that defines the parties, client or opportunity, referral fee, scope, expiration, and payment terms for a real estate referral.

A referral from one licensed real estate agent to another licensed real estate agent who is better positioned to serve the client or opportunity.

The licensed agent who sends a client or referral opportunity to another agent for service.

The licensed agent who accepts or applies to work a referred real estate client or opportunity.

The time window during which a referred client's transaction may still trigger the referral fee.

Approval or required process from the brokerages involved in a referral arrangement.

A short message from an applying agent explaining why they are a good fit for a referral opportunity.

The private workspace where selected agents continue the referral conversation, keep contact context, and track the outcome.

A review process where neither party sees the other's review until both have submitted, reducing retaliation or copycat reviews.