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Bryan Spann

Referrals

By: Bryan Spann
Friday, June 22, 2007 4:56 PM

I recently received a referral from a colleague who is no longer with our company. This was a referral to her from another collogue in another state. I took the referral thinking I can help out a friend and get paid. The thing is I'm doing all of the work. No problem. But, how many people should I pay a referral fee to for getting me this referral?

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Comments

Norm Fisher
Member Since '06

Norm Fisher said:

I would tell my friend that I'm happy to look after the referral but I can only pay one referral fee. If you can afford to pay 2 you're making too much money. :)

June 22, 2007 4:42 PM
Vance Remele
Member Since '04

Vance Remele said:

Hey Bryan question for ya

What do the other agents expect,$$ and what price range is the referral in.

Vance

June 22, 2007 6:20 PM
Mark Cohen, Broker
Member Since '03

Mark Cohen, Broker said:

Tell them that you will pay your regular referral fee and they have to split it between themselves.

June 22, 2007 9:14 PM
Carmen and Jeff Bills
Member Since '07

Carmen and Jeff Bills said:

Bravo Mark's got it

June 23, 2007 7:02 AM
Phil Rotondo
Member Since '04

Phil Rotondo said:

Twenty million dollar referral - pay everyone in the chain including agents who knew the agent that referred the puppy. $500k to a million you can pay 2.  Under 500k, pay only 1.  Under 100k, ask the referring agent for $500 extra.

June 23, 2007 8:40 AM
Ronda Kaufman
Member Since '06

Ronda Kaufman said:

You  only need to pay the one who gave you the referral. It is up to her to pay the other agent. My question is, why did she give it to you in the first place? Is she no longer an agent? Not in the area? Just curious.

June 23, 2007 11:27 AM
Cyd  Weeks
Member Since '05

Cyd Weeks said:

Unless you are the broker, you ask your broker to sign the referral form for the percentage he/she would like to pay and to whom they would like to pay it.  IMO, you (or your broker) has no obligation to pay any other brokerage than is listed on the referral form.  Whatever form the person that referred the customer to you signed with the brokerage that referred the customer to them dictates what % her/his broker needs to pay out on what fee they receive from your broker.  

June 24, 2007 7:26 PM
Bryan Spann
Member Since '04

Bryan Spann said:

The referral came from an office in Florida. It was sent to the agent who is no longer with our company, so the agent gave it to me before they left.

July 5, 2007 12:21 PM

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Bryan Spann
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Bryan Spann
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