TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.)

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Rainmaker
3,908,652
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't do it and don't ask anyone like yourself to pay for aspects of my business. I need to refer because I believe the company I'm referring is the "best" and not because I have a financial benefit from it. To me it's beyond taking advantage of vendors, it's an inherent conflict of interest.

Jan 07, 2016 07:12 PM
Rainmaker
562,368
Women of Westchester Working Together
Women of Westchester Working Together - West Harrison, NY
Women helping Women get ahead

Yes, rather annoying.  I've had many offices add me to their lists for free and without me asking.

Seems like a conflict of interest here.

Jan 07, 2016 06:10 PM
Rainmaker
140,518
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

Doesn't this toe the line of RESPA if both sides aren't getting the benefit of services? I don't know the law well, but I know an agent who gets a lender to pay half of his BoomBoom.  He has to make sure that he documents the leads that go back and forth between the two of them.

Jan 08, 2016 12:13 AM
Rainmaker
3,297,332
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Yes this is common with some of the big guys and i hear it from mortgage reps and inspectors. I prefer the i refer to you, you refer to me, we both do a good job and then repeat

Jan 07, 2016 10:01 PM
Rainmaker
791,216
Susan Laxson CRS
Palm Properties - La Quinta, CA
Local Knowledge & Global Network

My "Preferred Partners" are people I consider competent, reliable and honest. They don't pay for that privilege, they earn it through their hard work and professionalism.

Jan 07, 2016 09:30 PM
Rainmaker
1,707,347
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think this is a throw back to the day when the industry was agent centric and not consumer centric. It is not something I think is an ethical practice, at least that is my personal opinion if consumers are coerced into using them as a bundled service package. With inspectors I do multiple choice.

Jan 07, 2016 09:15 PM
Rainmaker
2,013,870
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

The above seems excessive ! I would make them adjust the amount monthly based on the number of inspects they ordered ! Also is the $$$ going directly to creating BUYER LEADS (who need inspections) or into the Team leaders pockets ?

Jan 07, 2016 09:08 PM
Rainmaker
1,379,314
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Personally when I was on a "team" the choices could have been better and I was always in trouble with the "Leader" for giving the three choices.

I am not a fan of this practice.

Jan 07, 2016 08:50 PM
Rainmaker
860,558
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Michael - Many agents, such as myself, advertise (or refer) our preferred partners for free. $1,500/mo sounds like a lot of money!

If you are not getting anything in return, why would you pay for an agent to market themselves.

Jan 09, 2016 01:32 PM
Rainmaker
2,410,244
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Michael. I am asked on a regular basis, I choose not to participate.

Jan 08, 2016 06:48 PM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

TeamChi - Complete Home Inspections, Inc. - I like the idea of PREFERRED PARTNERS - helps my transaction go smooth as I know these partners.

Now when it comes to 'give or take', I abide by our code of ethics.

Jan 08, 2016 03:30 PM
Rainer
215,563
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

When money changes hands like that I would say the referree should be disclosing that they are being paid (marketing costs) to be on the list.  I refer only people I have used in past, not someone who pays me anything.  I would find that a conflict of interest. 

Jan 08, 2016 05:27 AM
Ambassador
3,001,787
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

That is not how I engage my preferred partners. They are preferred because they are good and offer great service ... not because I am profiting from it. 

Jan 08, 2016 05:26 AM
Ambassador
5,216,871
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Taking advantage of vendors, and as with agents when faced with this dilemma from the likes of Z, you need to ask, how desperate am I? Do I need to buy this business or should I walk away?

Jan 08, 2016 04:14 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Not something that I would do.  Though, if that's what they want to do, more power to them.

Jan 08, 2016 04:11 AM
Rainmaker
1,290,359
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

While I believe in "Preferred Partners", TeamChi - Complete Home Inspections, Inc. ... my definition of such is definitely different from what you describe.  And earned differently too.  Performance and level of service should be the measured criteria and the path to a preferred partnership/relationship ...

As a sidenote on this topic, those partaking of the kind of partnership you describe will be wise to reconsider .. or be very careful as to what they are actually paying for because of high CFPB scrutiny now.  They're looking with a very critical eye to these types of agreements ...

Gene 

Jan 08, 2016 03:34 AM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have heard of this...I would not do

Jan 08, 2016 02:43 AM
Rainmaker
591,654
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Michael,
Sure sounds like it violates putting the clients best interest FIRST!

Jan 08, 2016 02:23 AM
Rainmaker
5,570,665
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

taking advantage for sure.....

Jan 08, 2016 01:19 AM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

We don't do that.  

Jan 08, 2016 12:32 AM
Rainmaker
5,368,504
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

Very sticky business asking you to do that...It sure gives me the creeps.  I smell a big conflict of interest.  A

Jan 08, 2016 12:15 AM
Rainmaker
6,369,840
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Helping to fund joint efforts is simply part of doing business. You need to decide what is realistic and beneficial.

Jan 07, 2016 11:44 PM
Rainmaker
3,958,612
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

The power of NO.   Next Opportunity.

Jan 07, 2016 11:29 PM
Rainer
57,139
Jack Gerbehy
Egg Harbor Township, NJ

tells me they don't care about their clients ( you might not be the best at what you do ).... you are preferred because you paid in .... 

Jan 07, 2016 11:12 PM
Rainmaker
1,444,927
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

TeamChi - Complete Home Inspections, Inc. I would also pass.

Jan 07, 2016 11:03 PM
Rainmaker
831,948
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I would tell them that they need to pay me $1500.00 per month to have my name appear on their site.

Jan 07, 2016 10:59 PM
Rainmaker
1,157,435
FN LN
Toronto, ON

Different RE teams have different business models. 

Jan 07, 2016 10:45 PM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I do not have preferred vendors.

Jan 07, 2016 10:18 PM
Rainmaker
797,057
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

Disgraceful and I would probably let an Agent go if they did it.  The only criteria for being preferred is because they did a good job.

Jan 07, 2016 10:05 PM
Rainmaker
1,697,649
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

That seems a little steep if you ask me. I have asked for lenders to pay for 1/2 my farming postcards but they get 1/2 billing. I get the right side & they get the left side on the front of the postcard piece.

I just had a preferred lender who is placed in our office refuse to do the same as my outside partners. But of course, he expects your business.

Just as a side note:  Why doesn't my home inspector ever send me any business? 

Jan 07, 2016 09:39 PM
Rainmaker
3,874,781
Richard Weeks
Dallas, TX
REALTOR®, Broker

I don't think you were held ransom.  You refused to pay and you are still alive.

Jan 07, 2016 09:29 PM
Rainmaker
1,673,804
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I have had people ask to pay me to be on my website but I would not ask someone to pay me.  I always refer out of the absolutel confidence the client would get excellent service.  

Jan 07, 2016 09:10 PM
Rainmaker
4,021,713
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Never a fan of being held for ransom! Too many alternatives available!

Jan 07, 2016 09:04 PM
Rainmaker
869,141
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

You want access to this teams client base so your services can be promoted.

Where did the idea this should be FREE come from.

Who gives teams or real estate agents access to their client/customer base FREE?

Some folks can not afford to 'pay to play' and very often I too have said 'Aboslutely NO." 

It is GOOD BUSINESS...just not good for you and sometimes me.

Jan 07, 2016 09:02 PM
Ambassador
947,717
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

I would not paying for this type of connection 

Jan 07, 2016 08:41 PM
Rainmaker
519,701
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

Definitely a conflict of interest

Jan 07, 2016 07:38 PM