Home Selling in Atlanta>Question Details

ATLToddB, Other/Just Looking in Atlanta, GA

What would be the best way to contact agents about earning a referral commission on expired listings for upsidedown, high-end homes?

Asked by ATLToddB, Atlanta, GA Mon Sep 10, 2012

This applies to any type of listing (short sale etc)

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Answers

5
Why would an agent pay a referral fee when this type of information is free of charge and accessible to anyone through public documents?
2 votes Thank Flag Link Mon Sep 10, 2012
The agent would receive the commission by providing the introduction to the homeowner. I represent a group of private investors who are interested in loan workouts. I was assuming the agent would have built rapport with the homeowner and would be able to suggest an alternative to selling.
Flag Mon Sep 10, 2012
after reading some of the "replies" you provided below - with that added clarity - it's my opinion that since you're not an agent (you "represent" investors), you cannot pay a referral to any licensed agent.

Furthermore - agents can only be paid via their Broker of record.........not individually/directly.

In my area what you're proposing wouldn't be allowed....maybe it is different in GA.
0 votes Thank Flag Link Sun Sep 16, 2012
Thank you for your response.
Flag Sun Sep 16, 2012
Are you prospecting for expired listings?

The best way is to pick up the phone and call agents in your desired submarkets.

When I run into this while prospecting expireds, I suggest that 26.2% is my referral fee if a failed listing agent wants to refer me to one of their expired clients. "Why lose money when your listing expires when you can refer your former client to me, and I will pay you that fee at closing?"

Attention agents - Please consider The Intown Insider for any of your overpriced, $750K+ Intown Atlanta and Decatur expired listings.
0 votes Thank Flag Link Tue Sep 11, 2012
Hi ATLToddB,

You mention earning a referral commission, are you an,agent?
0 votes Thank Flag Link Mon Sep 10, 2012
I'm not an agent. I represent a group of private investors who are interested in loan workouts. They are willing to pay a commission to agents who can introduce us to homeowners with upside down Jumbo loans. This type of warm lead is much more effective and is a win-win-win for the homeowner, agent and investors.
Flag Mon Sep 10, 2012
This is an excellent forum to reach out to the REALTOR community. Short Sales are an interesting beast that should only be handled by those with experience in them and/or with the right teams backing them. Craigslist is another forum that might be of interest to find REALTORs interested.
0 votes Thank Flag Link Mon Sep 10, 2012
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