OfflineDoes it work to have a Real Estate Agent to find
expired listings, price reductions, etc. if I'm
locating properties and passing them on to investors
for a "finders fee." If it does what percentage
would the Agent get when a property that he sent
me closes.
Also, I know the "referral fee" is negotiable but
can you tell me what the average referral fee is
so I know where to start.
Thanks so much,
Susan
__________________
The realtor I work with automatically gives me expired listings and doesn't expect anything. I usually give my realtor 10% if someone he referred to me buys one of my investment homes or does a L/O. They should be willing to give you that information without any expectations because of the business you will be bringing him anyways...
Matt Behrens
FR Properties LLC
www.frproperties.net
"Our Priority... You and Your Family!"
Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/67147/...
F.E.A.R- False. Evidence. Apprearing. Real.
Talk IS Cheap!
Each state has different rules regarding compensation to the agent. Ask them directly about your plans to compensate them to see if it is legal for them to do. And in what manner, compensation usually goes to the broker who then pays the agent. Ask before you do so he/she doesn't lose their license.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
It doesn't matter what you pay your agent who's bringing you deals unless you have a signed bird dog contract with them.I give any agent who shoots me a deal that i can close $500-$1,000.In my area agents dont really care as long as their getting a little of the dough.
ANY FOOL CAN CRITICIZE,CONDEMN AND COMPLAIN AND MOST FOOLS DO.
BENJAMIN FRANKLIN
It doesn't matter what you pay your agent who's bringing you deals unless you have a signed bird dog contract with them.I give any agent who shoots me a deal that i can close $500-$1,000.In my area agents dont really care as long as their getting a little of the dough.
ANY FOOL CAN CRITICIZE,CONDEMN AND COMPLAIN AND MOST FOOLS DO.
BENJAMIN FRANKLIN
Thanks! I appreciate the information.
Susan
Your real estate agent typically always gets a commission when they have any dealings with a listing or transaction.
They getting a cut is illegal. Its called kickbacks and can result in them losing their license. Giving them a check or money order is wrong and can get them in lots of trouble and absolutely incriminating.
Now if 'someone' happens to walk by and out of nowhere you happen to see an envelope with money in it and don't know where it came from....