Referral question involving individual agent and referral partner
Hello,
Need help understanding broker to broker referral fee. My sponsoring broker is out of california and ive connected with a referral partner that works with Exp, that is based in Florida. In the contract I have to agree to in order to get the referrals, it states that they will receive the referral fee out of the "gross broker commission", then i will receive my portion based off the commission split that is in place with my sponsoring brokerage.
Generically speaking does that payout process sound correct and accurate when talking about referrals between a brokerages and individual agents?