You are free to work out an agreement that works for both agents. The above referral amounts and time restrictions are suggestions only. If you have another arrangement, feel free to enter into the "other" boxes.
Common Practice: A referring agent refers out an SOI client. The receiving agent works the transaction and receives their team split. The referring agent receives the difference between their SOI split and the receiving agent's team split as a referral fee.
Example: Susan's brother wants to buy a home in Galveston, but Susan primarily works in the Woodlands. Bob is another agent within Corcoran Prestige who does like to work with clients in Galveston. Susan's SOI split is 80%. Bob's team split is 50%. Once closed, Bob receives his standard team split of 50% and Susan is paid a referral fee of 30% (80%-50% = 30%).