Real Estate Referral Fees - 5 Things You Need To Know

A real estate agent doesn't always have the time for every client who comes their way. That's where referrals come in. When a real estate agent can't work with a client (whether it's a time or expertise issue), they can instead refer them to another real estate agent altogether. The real estate agent gets a finder's fee, also known as a real estate referral fee.

Usually, these deals are drawn up well in advance. Over the course of your real estate career, you'll start to develop referral contracts with others in the industry. Sometimes, a referral agent may just reach out to you unexpectedly with an offer.

And it's not always another agent — sometimes it's a third-party system such as an online service or another broker. As long as the other party or broker is licensed, they can refer work to you.

Let's take a deeper look at everything you need to know about a real estate referral fee, including how to capture them on your own.

00:00 - Intro
01:48 - How To Make Money Through Referrals
02:59 - Different Sources For Referrals
04:04 - Build an Out-Of-State Referral Network
04:59 - What To Know About RESPA
06:15 - Make Referrals Transparent to All Parties
06:51 - Real Estate Referral Fees FAQs
08:40 - My Thoughts On Real Estate Referral Fees

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