I don't know of a 'common' practice in handling this.  It seems to me that you guys need to simply discuss it and negotiate something up front that both are comfortable with.

Based on the info you've provided here, if you were asking me to cover for you for that long I would just want you to go ahead and refer this prospect to me for a set fee (25% probably) and he becomes my customer.  In 2 weeks, I will very likely show him quite a few properties and establish solid rapport.   I wouldn't agree to handing him back over to you after that long.

Gloria , If when you return he buys a different home than what he has been shown, then I don't believe you need to split 50/50. I personally would buy that person a very nice gift and let then know that you are willing to return the favor when he or she takes a vacation. Also let that person know that you really appreciate all they have done in your absence.

Best

Ed

Tim And Susan have a very good point. Unless you have a relationship with this person which it does not appear that you do....Refer and be done. It sounds like it may be a pretty good client and may select a home in the 2 weeks you are gone. Making money while enjoying a vacation is always a good thing. Refer and relax....then it is not in the back of your mind while on vacation....

When someone covers for me and works one of my clients I split with them regardless if they buy while I am gone or when I come back. However, If it is while I am gone, it is 50/50.  When I get back if they have not closed them, it is a 25% fee. They deserve something for keeping them alive and vibrant.

Hi Gloria,

I feel the same as Gary, the other agent should be for there time spent. I personaly would give 50/50 split if I was gone and a 25% if I came back and finished them. I would look at it this way, if the other agent was not there I would have recieved 100% of nothing. Just my two cents...

I agree with both Gary and Tim/Susan.  Why?  If this is not someone with whom you have developed a relationship, then they most likely will develop one with the other agent.  As a buyer, I would hate getting tossed back and forth UNLESS I had known you for a while and knew upfront that you would be taking over upon your return.  I also agree with the way that Gary would handle it if you do end up handling the buyer upon your return.  I believe the best way to avoid problems is to discuss this with the other agent.  If you don't want to get really formal and put it in writing, I would at least have detailed notes and be sure that you both have a copy of the notes.

Absolutely NOT!  Just agree to help them when they are on vacation!  If you really feel bad, drop them a couple hundred bucks after the deal closes!

If you never met the employee and cannot service them then maybe a simple referral for 25% ?  But if you already have 50% worked out then more power to you.

Would be really hard to take over in the middle of the hunt if no deal yet when you get back.  Would let the referred agent finish handling the hunt and the deal.  50% without doing the work on a buyer side, that is good money!

Enjoy your vacation!

Gloria said:Here is my dilemma

I am going on a 15 day vacation.

Hi Gloria

II I was in this situation I would let mt covering agent still take the ball and run with it.

After all there is a 15 day +/- relationship that was built while you were gone and not to confuse anything by stepping back in, I would let it the deal stand and just past out warm fuzzies smiles.

Now If the other relocation buyer  comes into play after you come back then go for it..

There will be other times you will go on vacations and you may need another agent?

Vance

I would just make it a referral with a 25% fee. I know that if I were the client, I would NOT want to switch from one agent to the other. Buying a home and relocating is difficult enough!

With the person I 'share' with in the office, we do 50/50 and when the other one comes back they take over.  If I'm the one away, she takes them out, I keep in contact with her and the customer from where ever I am.  It's explained to the customer that they have two people working for them.  When I get back, I take over the paperwork.  If that customer refers someone else in, it's mine and has nothing to do with her.   Actually we do this when we aren't even away, just really busy and can't get to the customer.  It encourages us both to work everything equally and quickly knowing that we'll both get something substantial out of it and evenly.   Works for us.  :)

50/50 on client #1 as you have already agreed to that.  But leave that buyer with the covering agent.  You can help behind the scenes when you get back.  Don't confuse the buyer.  The employee is yours.  Unless of course the boss is looking for both homes.  Then is seems to me you have already agreed to 50/50 on both.

Gloria, I like the title to this thread. Sorry, I'm never quick! But, for what it's worth, I would go with Vance on this one.

Please don't tell him that I agree with him.

Gregory

I copy and pasted your reply already  ha ha

and I am going to frame it to.

As a matter of fact I am going to make a poster out of it :)

Don't Gloria I am joining Solid Source soon... ha ha ha. Really.

Vance Source

I would let the other agent 'have' the client and keep the split 50-50.

Look at it this way:

You are getting a 50% referral fee while the other agent continues to develop this client. The client will know he is getting two for one and feel wonderful about both of you. Be there if you're needed but otherwise let them bond and enjoy the nice take while you develop your business beyond.