Referral Fee Agreement
Effective May 1, 2025 · beta.pocketreagent.com
1. Parties
This Referral Fee Agreement ("Agreement") is entered into between Pocket Reagent ("Referrer"), the operator of beta.pocketreagent.com, and the licensed real estate professional ("Receiving Realtor") who accepts a lead through the Pocket Reagent platform.
2. Scope
Referrer operates a real estate search and lead-generation platform. From time to time, prospective buyers and renters ("Leads") submit inquiries through the platform. Referrer may, at its sole discretion, route a Lead to one or more Receiving Realtors for follow-up and representation.
3. Referral Fee
In consideration for the introduction of a Lead, Receiving Realtor agrees to pay Referrer a referral fee equal to 50% of Receiving Realtor's gross commission earned on any real estate transaction that results, directly or indirectly, from a Lead referred by Referrer ("Referral Fee").
Example: If Receiving Realtor earns a 3% gross commission on a $800,000 sale ($24,000), the Referral Fee is $12,000.
4. Claiming a Lead
A Lead is considered accepted when Receiving Realtor (a) clicks the "Claim this lead" link in the assignment email, or (b) claims the Lead through the realtor portal at beta.pocketreagent.com/realtor/leads. By claiming a Lead, Receiving Realtor agrees to be bound by this Agreement with respect to that Lead.
5. Declining a Lead
Receiving Realtor may decline a Lead at any time before claiming it. Once declined, the Lead will be returned to the pool for reassignment. No Referral Fee is owed on a Lead that was never claimed and that did not result in a transaction.
6. Reporting a Closed Deal
Within 7 calendar daysof a transaction closing, Receiving Realtor must report the deal through the realtor portal, providing: (a) the sale or lease price; and (b) Receiving Realtor's gross commission percentage. Failure to report within this window does not extinguish the obligation to pay the Referral Fee.
7. Payment
The Referral Fee is due and payable on or before the date the transaction closes. Referrer will issue an invoice upon receiving the closed-deal report. Payment method and banking details will be coordinated directly between the parties.
8. Term and Termination
This Agreement applies on a per-Lead basis and remains in effect for each Lead until the Referral Fee is paid in full (if a transaction results) or until the Lead is officially declined or marked dead. Either party may terminate participation in the platform prospectively by providing written notice; however, any previously claimed Lead remains subject to this Agreement.
9. Independent Contractors
The parties are independent contractors. Nothing in this Agreement creates an employment, partnership, joint venture, or franchise relationship.
10. Governing Law
This Agreement is governed by the laws of the Province of British Columbia and the applicable federal laws of Canada, without regard to conflict-of-law rules.
11. Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to referral fees and supersedes all prior discussions or representations on that subject. Referrer reserves the right to update this Agreement with reasonable notice posted to the platform.