Realtors getting referral fees from Mortage Agents

[LendingClarity]

[QUOTE=Homesurfer]This HAS to be a bullshit thread...
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Yup.

Denns25, you can spend your time looking for holes in RESPA in order to "monetize" your relationships, or you can become deserving of his leads by doing your best for the client and putting the client's needs first.

The last agent I would give a lead to is the one who approaches me with his hand out. I give out leads I generate to the agents in whom I have the highest level of confidence and with whom I have the highest level of mutual respect and concern for the client.

Show me you care about the client above all else. Show me your commitment to the team that labors on behalf of each client. Show me you are committed to our relationship and the healthy, long-term growth of our respective businesses, and you'll get my leads.

[MauiMoe]

Can a LO give a friend or relative not in the real estate/lending field a referral fee? Let say $250
for referring a friend?

[GoGetRealEstate]

Sorry, but it violates RESPA. Doesn't seem like it would, but it does. We have lots of transcripts of Dr. Gary Lacefield's Q&As along with links to his videos on our site, and I remembered this one because it didn't seem fair. Actually, RESPA is designed to be fair, to establish a level playing field which is explained in this video. The subject is rewarding friends and family, and you can find it here: http://pointers.audiovideoweb.com/stcasx/nj45win9664/respa/RESPA3.wmv/play.asx

[waynelong]

Yep. RESPA violation. Wayne