I'd like to know what everyone feels is a practical referral fee for short sale listings?
I belong to Broker Agent Social and the fee is a standard 30% of the listing side, (less out of pocket costs).
I'm starting a new marketing campaign here in Central Calif (The Valley), and it will be generalized enough to apply to other areas, once it's rolling.
I could have a lot of referrals to give out if it works! (I've tried other dream machines for marketing and some work and some don't, so I don't want to start cheering yet).
I would also have marketing, negotiation and listing tips that have been developed over the years for short sales.
I first worked with short sales in 1991. I worked with the team that invented them thru computer modeling for a Sacramento bank that was losing buckets of money. I was their rep in the Fresno area. So I know of what I speak.
My last question is more technical. Is there any prohibition on giving referral fees to licensed agents in states where I am not licensed? It's important to not break any state or federal laws, in a rush to help someone.
Please comment on my questions or share other ideas.
Vic Pasnick, Realtor,
Fresno Association of Realtors,
Broker for A La Carte Properties