1,052,211
Is your real question: would you ask for a referral fee on a property priced way beneath the typical price point in your area?
Sometimes yes, sometimes no. It depends on how invested I may have been in research and due diligence prior to making the referral, and how much work I think the agent referred to is in for. A lot of times, it's a 'give, just take care of the client please'.
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Michael Jacobs
Pasadena, CA
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Kasey & John Boles
Boise, ID
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
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Candice A. Donofrio
Fort Mohave, AZ
7,836,425
Yes, if the agent is one of my regular referral associates.
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Debe Maxwell, CRS
Charlotte, NC
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Steve Higgins
Kelowna, BC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
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Nina Hollander, Broker
Charlotte, NC
2,436,470
That's just a normal sale here. Sure, why not?
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Debe Maxwell, CRS
Charlotte, NC
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
2,220,654
Why not?
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Steve Higgins
Kelowna, BC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
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Anthony Acosta - ALLAT...
Atlanta, GA
5,104,931
It depends; but probably yes.
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Michael Jacobs
Pasadena, CA
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Steve Higgins
Kelowna, BC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
805,909
I don't see why not. They wouldn't have the listing if not for you.
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Anthony Acosta - ALLAT...
Atlanta, GA
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
3,587,960
Jeff of course. But I don't on rentals.....just hand them to somebody good.
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
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Steve Higgins
Kelowna, BC
2,178,603
What Anthony Acosta - ALLATLANTACONDOS.COM said.
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Anthony Acosta - ALLAT...
Atlanta, GA
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
1,543,833
I ask for a referral fee on all sales, but never on rentals.
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Steve Higgins
Kelowna, BC
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
1,712,676
We use a sliding scale based on price. Often $100,000 types are more work that the more expensive ones.
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Candice A. Donofrio
Fort Mohave, AZ
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
599,274
Yes. A referral is a referral and you could at least earn enough to pay your dues for the year.
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Steve Higgins
Kelowna, BC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
3,071,489
Sure
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Steve Higgins
Kelowna, BC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
5,216,875
Sometimes yes and sometimes no! Life is more than about money!
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
716,049
Well, of course.
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Debe Maxwell, CRS
Charlotte, NC
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
2,161,148
Yes. It all depends on the marketplace, there are still plenty of areas where you can buy real estate for a 100k. I've paid many referrals on that amount and sometimes even less. Maybe not a whole lot but nevertheless.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
1,725,996
Others have from us, so , I would have to think long and hard on that one.
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Steve Higgins
Kelowna, BC
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Jeff Pearl
Lovettsville, VA
4,572,439
Typically, I would but there are situations where I can see where that would not be the case. I guess "it depends".
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Steve Higgins
Kelowna, BC
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Jeff Pearl
Lovettsville, VA
637,434
Interesting question because I've had some agents "refer" someone for one of my lower priced listings and made a point of not asking for a referral fee. NONE of them ever bought, and I saw quickly why they just washed their hands off these "buyers".
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
2,310,576
It depends. If the property is going to be difficult - then no. If it is a slam dunk and only needs a sign and mls, I will usually ask for something but not the whole enchilada.
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
3,416,038
Of course and why not? I am referred quite a lot of buyers who are looking for affordable condos here in NH and many are under 100k. I pay a referral to all and happily to have them think of me
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Kasey & John Boles
Boise, ID
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Jeff Pearl
Lovettsville, VA
2,684,109
6,393,609
That is a common price point around here.
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
921,504
I would not.
However, I do experience that others expect a fee when they send something my way.
I do not ask on because the compensation is so little for the agent involved that I want them to remain motivated, well as much motivation as a thousand dollars can create.
However, I do leverage this extended 'generosity' as a cause to stay in touch. Everyone, everywhere knows folks going to Florida.
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Jeff Pearl
Lovettsville, VA
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Candice A. Donofrio
Fort Mohave, AZ
352,976
Of course if it's a listing or sale. Some markets that's a normal price, or so I've heard. A referral is a referral, unless it's a lease client, I would not. But then again, I'd never refer a lease and would advise the client to find an agent in the agree than works with tenants. I don't.
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
5,230,119
I rarely send out anything that low but, I sure do ask for a referral fee - just a much smaller one than normal.
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Steve Higgins
Kelowna, BC
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Jeff Pearl
Lovettsville, VA
5,772,575
3,626,530
You bet, a penny is a penny
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
711,852
4,434,127
Yes
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
4,883,242
You bet.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
1,466,207
Jeff Pearl Yes, a referral is a business transaction between two brokers. Real estate is a business. Let's keep it that way.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Jeff Pearl
Lovettsville, VA
1,844,301
No not really. Or maybe a lesser one than normal.
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Debe Maxwell, CRS
Charlotte, NC
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Jeff Pearl
Lovettsville, VA
5,583,278
A virtual Hug....
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Jeff Pearl
Lovettsville, VA
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Lyn Sims
Schaumburg, IL
5,868,565
I have given many a referral to agents under this amount, and never asked for a referral fee.
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Jeff Pearl
Lovettsville, VA
4,936,716
1,574,666
Business is business. Of course the fee amount would likely be a bit less!
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Jeff Pearl
Lovettsville, VA
644,125
yes, the dollar amount of the sale has nothing to do with a referral being sent but the amount offered for the referral certainly does. the person receiving the referral can decide whether to accept it or not.
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Jeff Pearl
Lovettsville, VA
4,800,082
Probably, unless there were some extenuating circumstances.
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Jeff Pearl
Lovettsville, VA
989,652
4,319,419
5,005,659
Referral fees on resales but never rentals.
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Jeff Pearl
Lovettsville, VA
3,383,334
The only thing I won't ask for a referral fee on is a referral of a rental listing or tenant. All else, absolutely.
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Jeff Pearl
Lovettsville, VA
1,239,901
3,988,007
3,986,258
Sure, that may be just the first of many deals
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Jeff Pearl
Lovettsville, VA
4,272,548
577,750
Absolutely.. there is no minimum, or maximum on the price of a sale... a referral is a referral...
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Jeff Pearl
Lovettsville, VA
3,345,091
Yes. Why not? The only exception in my mind is if I were referring to a great agent that said ... I can't do that and pay a referral fee. Then I would reconsider. I understand that we are in in a for profit business.
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Jeff Pearl
Lovettsville, VA
1,502,998
Sure. We don't have any of those out here... and haven't for 60 years... but why not?
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Jeff Pearl
Lovettsville, VA
1,617,916
900,128
A referral fee is a referral fee - might feed the cat!
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Jeff Pearl
Lovettsville, VA
5,049,477
Sure why not. I never do on rentals, though
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Jeff Pearl
Lovettsville, VA
2,781,173
Depends...not everything we do should be based on money outcomes
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Jeff Pearl
Lovettsville, VA
2,182,552
815,353