hey all,
as a realtor i’m not allowed to accept kickbacks. for those other realtors who are active in this forum. i’d like to know if this holds true for ANY real estate transaction or those in which i’m acting as an agent.
for example, if an investor in my REI group has a property for sale. if i find him a buyer (another investor) and he’s offering a referal fee…can i accept this or would this be a violation?
I know it is against the law in every state to accept kickbacks between mortgage brokers and realtors. However, if your a realtor isn’t your job to sell property? So I don’t see it being that wrong… However, you will need to check the laws in your state.
Also, if you do work for an agency and you get a referral fee for referring someone and a realtor in a different agency gets the commision I could see that as a problem and as a conflict of interest.
ryanpal…
Just have them list it as an Agent co-op fee at the percentage rate that corresponds to what the “kickback” would have been, then everything is above board and completely legal…
Keith
hi keith,
i don’t believe there is a list agent involved. just two investors and me being the middle man meeting the two.
So what if you were to write yourself in as the realtor involved? Then you get paid!
Robb
hmm i wonder if that would have any impact on the buyer and/or seller
interesting reply
ryan
ps - (robb, i need to give you a call regarding my visit to CO)