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This is weird.
Not heard of.
Mike & Eve nailed this one!
I did one not knowing at the time...it was a disaster.
I think the buyer and the "friend" are both jerks. The buyer for not trusting you and the "friend/agent" for sticking his nose where it does not belong.
Either tell them both that you ARE the agent and stick to your guns ....or take a 50% referral fee and tell them both to take a hike.
The legal department of your Realtor association would be the best to run this by....they can make sure you use the best method to handle this. I have heard of it. As we know, it's all about the documentation. Good luck!
I see a lot of issues ahead.. If I were in your place I would get a signed contract with the other brokerage for a 30% referral fee and count myself lucky.
The crux would be if this associate is being compensated for the negotiation aspect of this transaction (not the listing side). Consequently, in order for you to be compensated it's necessary that the negotiations include you to be valid. Dare I say that you're venturing into uncharted waters for the most part and that requires a better captain than me.
Wow, thats a new one ! I would decline as well. This is not something ethical nor logical. The seller has no idea though... to him he must think this is ok because he doesnt understand the legal and ethical sides to your licensure.