New to Real Estate · Marysville, WA · Member since 2018 · 6 posts · 2 votes
Hi there, I am new to real estate investing and i have a situation in which im not to sure of. A fellow investor reached out to me about a house they have under contract to wholesale. They don't have a buyer interested in the area but i do have a buyer. My question is if I connect the investor with my buyer how much would i charge as a referral fee? Or what is the standard referral fee for a non agent?
I cannot speak to the laws in your state, but in my own, non-agents are not allowed to receive payments or commissions for brokering real estate deals, even by collecting a referral or finders fee. Check with your local RE department to ensure you would not be doing something that would get you into trouble.
@Bob Okenwa Thanks. It was something brought up to me by some local investors but I will check and see if it’s ok. I ended up not going through with it anyway just because it was a weird situation with some uncertain investors.