RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and prohibiting kickbacks or unearned fees in real estate settlements
TILA: Truth in Lending Act - Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed
State Real Estate Commission Regulations: State-specific regulatory framework governing real estate transactions, including referral fee structures and limitations
State Licensing Requirements: Mandatory licensing regulations for real estate professionals who can legally participate in referral fee arrangements
State Broker Laws: Specific regulations governing broker conduct, responsibilities, and fee arrangements within each state
NAR Code of Ethics: National Association of REALTORS�� ethical guidelines and standards for professional conduct in real estate transactions
MLS Rules: Multiple Listing Service regulations governing how properties are listed and how professionals cooperate and compensate each other
Contract Law Fundamentals: Basic contract law principles including consideration, offer, acceptance, capacity to contract, and legal purpose requirements
Disclosure Requirements: Legal obligations to disclose referral fee arrangements to all parties involved in the transaction
Fee Limitations: State-specific restrictions on referral fee percentages and structures that can be legally implemented
