Agent2Agent in 10022>Question Details

Stefani Pace, Real Estate Pro in 10022

Would you like to get 50% referral Broker to Broker? Send me your client to New York City

Asked by Stefani Pace, 10022 Sat Apr 5, 2008

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Every market like this we start getting the referral fee escalators!! I had an agent try to get a 30% referral fee from me saying, "I've done all the work--the buyer has found the property they want and all you have to do is write it up--give me 30% referral fee!". First off, she didn't BUY that unit, secondly, both of the available units in the complex are "short-sales"!! Thirdly, the condo is selling for $190,000 with a 2.5% cooperating broker fee "subject to lender approval"! And she WANTS 30%!! If you don't leave enough on the table for the other agent to make a buck then I fear for my referred client. Who's to say the referring agent is going to work all that hard for peanuts because they are giving away so much of their fees in brokerage fees, referrals fees and "short-sale" reduced commissions. Besides, if the first thing an agent does is give away 50% of their fee to simply get a referral, I wonder what they will be giving away of MY CLIENT'S bargaining power!!
Stefanie--your Mom told you many years ago--don't give it away for free!! Your too gorgeous for that!!
4 votes Thank Flag Link Sat Apr 5, 2008
Every brokers split is different and the better the broker the higher the split; I can handle a 50% referral because of my split and most agents will reciprocate that. Also good agents realize you are not just working for the current commission you are working for that clients repeat business and referrals. A one time 50% referral for a life time of dedication and referrals, (I am sure of because my team and I are that good) I can afford.
Thank you all for your input.
2 votes Thank Flag Link Mon Apr 7, 2008
I will gladly send you referrals with a reciprocal agreement that you will do the same for me.I am located in the Hampton's NY. Many of my clients and customers are from Manhattan.I look forward to working with you real soon.
2 votes Thank Flag Link Sat Apr 5, 2008
I'm in the Dulles area (Loudoun/Fairfax Counties in Northern Virginia, about 30-60minutes to DC); and I'd be interested to learn more about your program. Contact me at vickychrisner@gmail.com
0 votes Thank Flag Link Sun Jun 29, 2008
Hi Stefani!

Interesting. Is your offer for both buyer and seller referrals?

As an aside, what's the highest referral fee everyone has either heard of or completed?

Rudy
Social Media Guru at Trulia
0 votes Thank Flag Link Sat Jun 28, 2008
It was one of my agents ideas. I take these referrals personally; no one else gives up anything. They thank you for thinking of them. As we said if you don't want the referral then then do as you said and say "NO and NEXT"
0 votes Thank Flag Link Mon Apr 7, 2008
Stefani, I'm sure your team loves the boss giving away 50% of THEIR fees!
0 votes Thank Flag Link Mon Apr 7, 2008
Note to Michael

AMEN AMEN BROTHER

JD “Dan” Weisenburger, GRI
Broker-Associate REALTOR®
Vanguard Realty, Inc. GMAC Real Estate
Web Reference: http://www.neflahomes.com
0 votes Thank Flag Link Sat Apr 5, 2008
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