Real Estate Investor · Apple Valley, MN · Member since 2009 · 35 posts · 2 votes
I have recently met some families who are looking to buy on contract for deeds and rent to owns. Does it matter whether I find the seller through an agent who is selling off the MLS or investor who is selling an investment property? i.e. Will the families care whether they buy through an investor or agent? Because from what I understand, commission is paid by the seller anyhow, correct??
Also, If I do find a property that would fit this family's criteria, it would have to be through an investor in order to receive a referral fee, correct?
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
14y
I don't think the buyer will care as long as they are handled professionally.
This will depend on state law. Typically referral fees are illegal, period. However some states may not require a brokers license to place tenants and you could get a fee for that.
However if you put the property under contract you can assign your contract and receive an assignment fee. There is almost always a way to get around laws against referral fees if structured properly.