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

vicpasnick@hotmail.com 

 

Views: 103

Replies to This Discussion

25% is good .. but it can get confusing .. make sure its clear whether it is before or after the broker split.  I find 1% of the sale price an easier number to work with.

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Short Sale Marketing and Referrals

Started by Victor Pasnick. Last reply by TOP END Properties Jan 2, 2013. 13 Replies

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