Incentive/Pay when using Real Estate Agents for Deals
Hi! I'm new at investing. I have a friend who is a Real Estate agent that I'd like to utilize for help locating properties as well as MLS access for comps.
What is a fair incentive that I can offer? I don't expect him to help for free nor would I suggest it. I haven't approached him yet and I'd like to be sure that my approach is solid and most importantly, mutually beneficial.
Thank You in advance!
Most Popular Reply
HI @Tomiyo Williams - are you looking to wholesale? @Martin Vehlow is correct, they'll get a commission on any on market deals you do together.
A few other incentives:
- refer them business: in my marketing for off market deals I interact with a lot of folks who want to sell, but not at a discount that makes sense for me as an investment. Sending those leads to your realtor friend would be very beneficial to them.
- pay them a % of every off market deal you close
- share your plan with them and ask what would motivate them to work with you.
Hope that's helpful!