ErikOk 10 Report post Posted December 16, 2011 Do you all offer referral fees on your advertising? I'm thinking of offering one on my postcards. If so, what amount do you generally offer if somebody refers a homeowner to you and it results in a closed or assigned contract? A referral fee is totally legal for me to offer, right? If I understand correctly, a broker can't pay a referral to somebody other than another broker. Share this post Link to post Share on other sites
Dmcdonald 0 Report post Posted December 17, 2011 Erik, I offer $500 as a referral fee, but it really depends on how much you make on the average deal; you don't want to be giving up too large of a percentage. As for working with brokers or mortgage people, there are some legalities that you need to be careful of. Maybe someone here can fill in the specifics, but you basically need to just call it an advertising fee (you're avertising that persons services either. By word of mouth to clients or on your website). PS: I just saw your PM, I'll get back to you soon. Share this post Link to post Share on other sites
ErikOk 10 Report post Posted December 23, 2011 So have any of you caught heat from paying/offering referral (bird dog fees)? I am getting tons of conflicting information regarding legality, from yes, no, to i don't know, to who cares. Reason I ask is because I want to put on my postcard: Not selling? Refer us to someone who is. If we buy, you get $200! I contacted the OK Real Estate Commission (under and alias ) and asked: Please advise on the states position regarding a real estate finder's fee (referral) paid by an individual (not licensed) directly to another individual (also not licensed). The person receiving the finder's fee would NOT in any way conduct negotiation of sale terms. Please include any relevant state code. I haven't heard back yet, but I just don't see how paying somebody some $ for a referral is a big deal since they are not representing anybody, or writing a contract. Really look forward to any experience you all have. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 23, 2011 I haven't heard back yet, but I just don't see how paying somebody some $ for a referral is a big deal since they are not representing anybody, or writing a contract.My sentiments exactly. Regarding the OK Real Estate Commission, I'm thinking it's in their interests to shoot the idea down so you don't "compete" with their membership. I'd be curious to hear what they have to say. Share this post Link to post Share on other sites
