When should money change hands on a split placement?

The staffing industry works very much like real estate. In real estate, there is a buying agent and a selling agent. Between the two, they 'split' the commission generated from the sale of the house. Staffing often works the same way. There is frequently a person representing a company looking to hire and another recruiter representing the candidate. The two of the will split the resulting comission from a successful hire.

But when should money change hands between these two parties?

As someone who has helped build the fastest growing recruiting network in the world ( HireAbility ), I share my opinion on this topic on my podcast.