Paying Real Estate Partner when there's no listing / 1099
Hi!
How do you pay your Real Estate Partner a fee (let's say 1-2% or flat fee) when the property is not listed with an Agent.
It's my understanding that you would have to pay the Agent through their Broker and Referral Fees paid directly to the Agent are illegal and can not be accepted by Agent.
Please advise. Perhapas there is an Agreement template that covers this scenario?
And how do you account for this tax purposes. Do you provide 1099 for Agent?
Hi!
How do you pay your Real Estate Partner a fee (let's say 1-2% or flat fee) when the property is not listed with an Agent.
It's my understanding that you would have to pay the Agent through their Broker and Referral Fees paid directly to the Agent are illegal and can not be accepted by Agent.
Please advise. Perhapas there is an Agreement template that covers this scenario?
And how do you account for this tax purposes. Do you provide 1099 for Agent?
Thanks much!