• I am happy to pay a referral fee to my asset management company.
  • Typical...... but, worth it. Its part of doing business in take care!!
  • I have no problems paying referral fees at closing to the A/M company, but I refuse to pay the fees up front in the hope of getting a closing!
  • I pay a 35% referral on my REO's and some agents turned down the opportunity to list with the same asset company. 2 years later I have sold over 200 REO's and my opportunities are endless. I also pay a 50% referral for relocation leads from my company....the referrals that are generated from those clients are free and my business keeps growing. It should not always be about the money you are making on that deal, but the opportunities it will bring you.
  • 30% referral AND 1% of the listing commish? Either or but not both.
  • Maybe I should raise our charges.

    I think 30% is too much, especially when they are really doing nothing other than referring. I mean heck, our company generates the business/referrals, screens them, discuss the short sale process with them, follow up throughout, and only charge 25%. Heck, we even offer training and resources for our agents.

    Maybe we're not charging enough!

  • Agreed, something is better then nothing. REO's bring in many other money opportunities than the commission.. In this game it's quantity not quality...
  • My feeling is that 70% of something is better than 100% of nothing any day!
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