I just moved to New Jersey and I’m focusing on wholesaling. My marketing efforts are yielding leads that are good candidates for short sales, which I’d like to pass on to someone else for a finder’s fee. I was told by a local realtor who I trust that was illegal. Can anyone shed some light on this?
mhughey,
that’s news to me. i’ve been offered referral fees from other agents in the past and i’ve been offering them to investors like yourself as well. i don’t see the illegality in passing along a lead and collecting a referral fee.
since your an nj resident now, i would be more than happy to network with you. please send me a pm and we can discuss further details.
looking forward to working with you.
ryan
…if it turns out your friend is indeed correct. we can just make you a partner on the transaction at x% and that should suffice. i’ll verify this “workaround” as well if the above is true.
ryan