The source is not as important as the quality of the lead in my opinion. If they are ready, willing, able & realistic, I'll take them. 

Why look a gift horse in the mouth as they say?

I do not turn down a referral. do some research on that agent if that makes you feel better.

To answert the referral fee end of it, how much does the agent know the client...i have had situations where agents offer me a "referral" when in fact he/she is an internet lead and they have no idea who they are...to me that does not qualify as a referral..maybe 10%but not your typical 20-30%.

I care more about quality of the lead over the source. I have turned down referrals from other brokers in the area when they refer me people I have already determined where not a valid lead. I have done that a lot lately. 

Every case is evaluated on it's merits.

Enjoy the "gift"! As you said, as long as it's from a licensed agent (check in his state!). I have turned down referrals if they were not in my immediate area or when I knew I'd be away and not able to help right away.

If it's a referral I'm receiving, I'm more concerned with working with the person who was referred, not the referring agent. I'm concerned with the agent when I send a referral. I only turn down referrals when they are out of my area of expertise or if the referred person is not realistic about our market.

Hella I turn down a referral if it is not my area, nor my specialty or if the the person has unrealistic expectations, such as having $300k and wanting to buy a home in my market that sells for $1.8million:)Endre

I get referrals from agents quite a bit through out the year - most I've never met nor spoke with prior - the only ones I turn down or give away are low end mobile homes or listings where the sellers are unreasonable on their price demand

I turned one down last week that involved a run-down home with tenants that don't want to leave.

Referral that involves a referral fee can only be paid to a licensed agent. Referrals from a non-licensed person is misdemeanor for the agent and a felony for the requester - in Arizona.

I get many referrals from people I know, an important aspect of my business - they are happy to provide me with a referral in exchange for a simple thank you. Over the years, I have had total strangers try to "sell" me a referral - or as they called it a 'finder's fee'. No can do.

When receiving a referral, what's important are: the person who referred you a possible client, you want to keep encouraging them to keep doing that, and second, the client - whether or not you want this person as a client - I choose my clients carefully.

The DFW Metroplex is 9286 sq miles.  I would not take a referral if someone was interested in living in an area I was not familiar with.

I think Nina Hollander has a great answer and I agree with her.

  As long as the Broker is licensed and in good standing with their real estate commission. 

If I was already working with the client and out of the blue, someone wants a referral for this person. This does happen and it is really annoying. Why provide a referral for a client you already have?

If you were referring a client, you might worry if you will get paid...but if you're the recipient of the referral, you have full control....

I would welcome the referral as the beginning of a new relationship.

Of course, I care. 

I turn down if I feel I cannot serve the client and/or if the clients are just not a good fit. 

I would be more worried about the quality of the referral. I have had plenty of 1-time referrals, and from agents I don't know. If the referral is for an area I don't serve I would certainly turn it down.

Th eonly time i woudl turn it down is if i could not help. I was offered one last week at 40%. It was not cost effective and they did call back and offer it at a reasonable rate. I did take it and we will soon have a home under contract already. 

Hella M. Rothwell, Broker/Realtor® I follow up on all referrals. Most are hit and miss. The referring agent heard someone was interested in buying or selling. Many are unqualified leads. I did turn down one qualified referral because it was outside of my service area and I didn't think I could service the seller properly.

Bob Crane nailed this one!

Providing it comes from a licensed realtor, and it is a quality lead, I will take it, providing the referral fee is appropriate.

I get referrals all the time, and only if it too far out.  However, did turn one down when a buyer would not sign a buyer's agency, and the on-line company (seller) said you could ONLY represent the buyer as a SA.  In CO you have to have the buyer's agency signed.  They would not, I passed.

Just received a text: would you pay $400 for 1.2 mln referral~ blocked. Yet, it is still strange that we are ok to pay thousands to sites like Z. for leads, but not ok to pay someone who referred a solid business to us.

I do not like some agents sending their online lead to make money in referrals, Hella M. Rothwell, Broker/Realtor®. 

If it is from a licensed agent and a valid referral that I think I can help, I think no future.

I  had a couple  of agents ask for a 50%fee

Hmm I suppose I might turn down a referral under certain circumstances and I do think I would prefer to talk with the agent get to know a bit about them prior to accepting the referral as well. Hella M. Rothwell, Broker/Realtor® 

As long as the lead is good and within my area/wheelhouse, I'm happy regardless of who it came from or if they're an agent or not.  If they're not an agent, that means they get a nice thank you gift basket (no more expensive than allowed by law) instead of "the going referral rate" of the commission!

Through our performance, advertising, attendance at regional and national meetings, teaching at our local and other AORs, etc., we try to foster an image that will attract other Realtors to make referrals to us. They may be strangers to us but there is a reason that they have made the referral to us.

It works!

Love referalls! I would make sure the referring agent is licensed. 

Come all ye referrals and what to do with them will be addressed at that time

Hella,

I think Endre Barath, Jr. said it well.  A

You could pull up that persons license just to make sure they are legit.

Sometimes I send a referral to someone I don know, If I'm helping someone out on my end that needs someone in an area I dont work. I can pull up some info on the agent, reviews, sales,, and call them etc before i refer. 

I do not turn down referral if I can actually help the individual.

When would I turn it down? When the referring agent has revealed themself a predator, appear on 'The list' and/or talks too much.

A good lead is a good lead if properly referred. Then again, some not so good!

Our agency requires a W-9 for all referrals, without it sorry I'll pass.  If the client wants a 400K home with a 100K budget, I'll pass

No.

Wrong Geo  or a type of property I had no skillset with