Updated almost 12 years ago on . Most recent reply
Paid referrals Illegal, but not leads?
Under RESPA I believe agents are not allowed to pay for referrals. They are also not allowed to get paid to refer business to mortgage brokers and other professionals.
A friend of mine took Kinder-Reese's real estate course for agents. In it they say that you can get paid to sell "leads" to mortgage brokers, carpet cleaners and so on. They call is Host-Beneficiary relations, but it seems referrals are just called leads.
I see that there are many lead companies out there so perhaps there is a area for us to operate in.
Theres no problem with a agent selling "leads" to a mortgage broker?
Theres no problem in an agent buying a "lead" from a individual?