First of all, the referral fee is only on the "side" you refer. This means if you refer a buyer, then you participate on the "buy" side, not both sides.
Second, your request for a referral should be based on what you are delivering. If you are giving the name of someone that you casually know, and have no business relationship with, then maybe 10% at most of the "side." If you referal is for a good client, and you can deliver a degree of loyalty and smoother relationship, then you can ask for more, say, 20 or 25%. Don't ask for 40 or 50% like a lot of residential brokers do because they say that "they are going to stay involved and work the deal." Neve happens. Good luck.
May 24, 2013