How Realtors And Real Estate Investors Can
Work TogetherJoe: Hey, it’s Joe Crump. Welcome back to the video series, ‘Questions And Answers’.
This next question is from Mike Manahan. Mike’s from Missouri. He says,
Mike: “Thanks for the opportunity to ask questions. I’m a member of your monthly “Cash Flow Newsletter”.
I’m looking forward to the next call any time. I have your manual, the Push Button Method
and the Las Vegas seminar.” Joe: Great, thanks!
Mike: “Also, I have the following questions. I know you’re not a lawyer, and you can’t
give legal advice…” Joe: I say that a lot. I’m not a lawyer. I
don’t even play one on TV. Mike: “But what common sense answers can you
give to the following? 1) How do you get around state laws regarding not getting referral
fees for referring business to realtors? I know that you’re big on getting multiple streams
of income from all of the participants in a real estate transaction. How do you get
paid?” Joe: Good question. Realtors cannot pay a
referral fee to someone who is not licensed, but realtors can pay for leads. So the way
I suggest that you approach this is say, ‘Look, I’ve got some leads that you can make some
money on. What would be the best way for you to pay me that would be legal for you to do?
Would it be valuable to you to have these leads? Could you make some money if you had
a bunch of buyers, or you had a bunch of sellers?” (Or whatever type of leads that you’ve got).
We sell seller leads and buyer leads to realtors and we make a good deal of money.
Joe: So, they can sell them to me as leads and some of them won’t work with you, but
they’re the ones that have a very small, closed mind and they don’t see the possibilities
of what they could make if they had a ton of leads in their lap.
Joe: Right now, realtors are hurting in a big way, because property sales have dropped
about 25% just in the last month, so it’s a tough time for realtors. A lot of them are
going out of business and going to find business elsewhere. And for you to be able to come
to them and say, ‘I’ve got a dozen leads. Could you do something with them? Would you
like to make some money with them?’ I think they can probably figure out a way to do it
in a way that’s legal, because you want to make sure you follow the rules. So that’s
it. I hope that helps.