'Finders Fee' agreement with another LA

[cymro123]

Has anyone on here ever had a 'Finders Fee' agreement with another LA?

This is where a LA passes details of a tenant (with their permission) to another LA and if the T takes up a tenancy the LA with the property pays the other LA a fee.

Do they work in practice?

How formalised was the agreement?

Are there any pitfalls?

What sort of fee is agreed?

Regards

Cymro

[dominic]

This is common in the murky world of brokering.

Sometimes it's called an introducer's agreement.

But can't say I've seen one in the property world.