Guys I'm about to have more than I can handle. Right now I get about 120 buyer leads monthly via the internet. That number is about to kick up to about 5-600 monthly, in about a 60 mile radius of where I am. I am not familiar with a couple of the areas that the leads will be coming from.
I was going to just charge other agents a referral fee.

What do you guys think is fair as far as referral fees for hot leads i.e. buy within the next month.

You can't charge referral fees unless you're a licensed real estate agent. You can sell the leads as a marketing company though. The price really depends on how good the leads are.

That is very true. I have been down that road of buying leads form a company and most did not pan out.