Realtors and lead fees. Your thoughts?

Any realtors want to comment? Agents?

RENinja

That is 100% true. You can charge a Marketing fee.

Donald Myers
Myers Real Estate Solutions, LLC.

I do this as a service for my agents. I provide leads for them and any time I call they will do what ever I ask. Provide CMAs, cash buyer lists. they provide me with seller leads, expired listings ETC, ETC. All of that is far more valuable that a referral fee.
This is one of the ways you can get realtors/agents to actually work with you. You are helping them! Imagine that!
Besides the need for a license to do this type of thing with an agent.

Michael Mangham
MD Home Acquisitions LLC

Giving agents and brokers referrals in exchange for future help or favors for you in the future, even repeat business, or things they'd normally charge for, is terrific. However, selling these referrals to them might be illegal, and can get you into alot of hot water quick. But there's no law that says you can't hook them up now for future help later.

but i've had my associates hook me up with leads and funny thing after the houses were sold, for some reason a certain amount of money somehow fell out of my pocket every time I was with them.

Very weird

That was my other thought. For every lead I give them, they run comps for one property.
Do you just have a gentleman's agreement or do you have a written contract?

Alpine, Elix,
That was what I thought. So I guess you would have to be their "employee" to give them leads? Anyway, I think exchanging leads for services is what I will do. Save some out of pocket money and maybe build some loyalty.
Thanks for you guys' help

RENinja

I might not be understanding this correctly but, this isn't like you have an agent agreement with them just your associates notices something and yea...when these mystery houses sold and then that darn hole been meaning to mend shorts you a bit more off the top.

LOL cough* pm me with your losses for each time you find yourself closing one of these after a hook up...you know just wondering a general average in case I decide to wear my lucky jeans... ^_~

there is no 'employee' arrangement going on. I don't work for anyone.

I tried to explain my situation in the most cryptic way possible and give options on making this arrangement work for those involved.

JC, you read it correctly, find me a home off the market, let me work my magic, and who knows if you somehow find a certain amount of money on the floor after we meet up

*cough cough*

I didn't mean, the realtor be my employee. I meant I be the REALTOR'S employee
I understood what you said.

RENinja

Don't be anyone's employee! You are an investor that contacts homeowners. Some
want to list their property instead of sell to you at this point. You want to know if the agent/realtor can take care of these homeowners and list their properties. Tell them you get a lot of leads from homeowners that want to list instead of sell to you.
When that conversation is done, ask them if they have any properties that would work for an investor?
Just build a relationship with the agent. This is how you get them to work with you. Not some script or asking them to make 25 stupid offers right off the bat.

Michael Mangham
MD Home Acquisitions LLC

I'm not selling out, I just wanted to explain what I meant to Elix. I guess he flipped because he misunderstood what I was saying.
Thanks for the advice.

RENinja

I'm just curious? I have noticed that a few of the people who post comments on here don't really seem to have much use for Realtors? The funny thing is that quite a few seem to be acting as Realtors, they just don't have a license?

As far as giving referrals to Realtors in exchange for money, favors, etc...maybe you should approach the problem from a practical perspective...How would you like to be treated and would you like to work for free? Some of you act as if Realtors were put on God's green earth to serve you with no thought of compensation.

I would be more than thrilled if someone were to give me a referral and I would be happy to provide them with equal "legal compensation".

Why do I always get the 'Darth Vader' treatment on here lol???

Comment not meant for RENinja...sorry it was meant for those whom consistently say things like Realtors are a "dime a dozen"...etc...In a sense as an investor you are a Realtor? You buy and sell houses to the "public". Of all people I would think investors would have an appreciation for the hard work some Realtors provide at no cost.

@Kim I think you can see the similarities between realtors and investors because you are both?, but I can't really think of any. Thats what I am always thinking as well, how do I work with realtors and at the same time provide VALUE to them? I mean I don't want to USE realtors. I want them to make a profit on the deals they help me with too. According to Dean, to work the MLS, you need to make hundreds of offers, but thats Dean. I'm sure that the realtors he works with, know that Dean is a SERIOUS player, and thats why they will do all of that work for him. I don't see how I can ask a realtor to do the same, with the expectation of only doing 4 deals for a hundred offers.

I think many people have the sentiment "Dime a dozen" because they have to pass on working with many realtors, not because the realtors aren't good, but because they don't want to do creative investing. Even you say "some realtors". Realtors who are experienced and do creative investing like you and Elix are hard to find.

@Elix,
Umm... maybe you need to turn against the Emperor? Then you would be treated like a Jedi hero?

RENinja

I like how this thread went from selling leads to Star Wars

Keep it up guys.