Receiving a “Finders Fee”

A “Finders Fee” can be paid from a seller who is unrepresented and isn’t a licensed agent sending a formal “Referral” and where the buyer is also going to be unrepresented. The form(s) required would be a “For Sale By Owner” agreement where the Commission would be noted as $0 or 0%. Additionally noting by adding a section “14” at the bottom specifying the following:

14. Regarding section 5 of this agreement, seller understands and agrees that the buyer is also unrepresented and no agency agreement or representation is being established for this transaction for either party. The fee of $____(fill in as appropriate) is being paid by seller to (agents brokerage) is being paid soley as a finders fee and shall not be considered a commission or referral fee in any way.

In addition to the For Sale By Owner Commission and Agency Agreement agent shall have the buyer sign and unrepresented buyer disclosure form as well.