Referral Fees

Comments(5)

• 
  NancyChadwick20th December, 2004

  If you are a principal in the deal (ie, put the property under purchase contract and then assign the contract to your buyer), you don't need to be RE licensed. If you are not a principal, you need a RE license.

• 
  niravmd20th December, 2004

  does this apply if the principal in the deal pays me a comission?
  
  how do investors pay bird-dogs? many a guru offers $500 to people who bring leads that they end up purchasing, even when the bird-dogs dont have a license nor are they principals.

• 
  JohnMichael20th December, 2004

  niravmd
  
  Paying fee's can be vary tricky depending upon the persons interest in the subject property and their professional affiliation if any.
  
  My personal birddog's are paid fees that range from $500 to $5,000 per SFR and on commercial from 10% to 20% of the equity position.
  
  Fees are determined by the amount of work performed on each deal. When a bird dog researches, negotiates and gets the subject property under contract with proper assignment clauses they are much more valuable to me.
  
  I only pay upon the close of the transaction.
  
  This just provides you a different perspective on the deal.
  
  Please no one contact me to be a bird dog as my plate is full in this area. Thanks.
  [addsig]

• 
  JohnMichael21st December, 2004

  You can find some great information on this subject at:
  
  http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=12337&forum=33
  [addsig]

• 
  niravmd21st December, 2004

  thanks everyone for posting.
  
  johnmicheal, the link answered my question perfectly!!!