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Are referral fees a good idea?

Clint McKie of Desert Sun Inspectors posed a great question to us real estate professional? Are Referral Fees a good idea for Realtors...To other Realtor, yes. Anyone else, no.  That is the rule as we know it.

Cash referrals treeAre referral fees a good idea?

At Desert Sun Home Inspections I did have an agency I pay "referral fees to". I pay a flat $25.00 dollar fee for every Home Inspection for a new client. All the client needs to say when I ask "where did you find my contact information" is the name of the Realtor that suggested they call me for a home Inspection.

This is a good way for the Realtor to earn a little more cash. We all like cash right? 

So far to date I have paid out a couple of referral fees. I am asking if your agency allows for the Realtor to accept these "Referral fee's as a part of doing business"?

I was only offering this "referral fee" as an incentive to give out my information for the buyer and or seller. The buyer or seller is in no way obligated to use me unless I make the sales pitch and they want to use me. Then we book the Home inspection and it is completed. Then and only then will they get paid the referral fee.

As a Realtor, do you have any suggestions on how to promote business without buying the Realtors with lunches, fruit baskets etc... is this not an incentive as well?

After all the feed back and my membership code of ethic's. I don't offer any fees of any kind. I will let my experience and talents as a home inspector speak for it's self.

Comments anyone?

Clint McKie

Owner of Desert Sun Home Inspections Carlsbad, New mexico. Serving all of South East New Mexico

1-575-706-5586   www.carlsbad-home-inspector.com

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Comment balloon 2 commentsC. Lloyd McKenzie • November 16 2011 12:35AM
Are referral fees a good idea?
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