What rules alpy when paying Bird Dogs or refferal fees to Mortgage Brokers and Real Estate agents? In Florida any RESPA issues?
what part of fl? i dont have an answer for you, im also in fl and want to know how that works
I am in South Florida, Broward, Palm Beach
In most states, someone has to be licensed to receive a commission, so the problem is typically that you have a bird dog and want to pay them, but are not allowed to call it a “referral fee”, which is a licensee term.
So with agents, as long as they’re not representing any of the parties, they can receive a professional fee. If they’re representing the parties, they may want to either just have their client pay their fees or at least disclose it on the HUD.