Referral/Finders/Assistants/Bird Dog Fee. Is this legal?
I know it is a common question, BUT I was wondering. I hear everybody around where I am and other states saying asking for a finders fee is illegal. I have asked lawyers and they have gave me two different answers, Yes and No. So I just decided to ask other Real estate Pro's. Now I know that most people say that if the real estate Agent/Broker is the one representing the seller and another comes in he can act as a Co-Broker and get paid. NOW I just hear that about the Broker, Now what if you as the Seller to pay you directly from him/herself for a "lead" and only pay if the lead comes through. The Finder does nothing but find someone interested in buy what ever type of property the seller is selling and give the seller his Contact info. then the finder steps back. Would it be legal then? I have have heard that only if the rep pays then that might be considered illegal, because he is a licensed person paying a un-licensed person, but what if it comes from the Seller? It would be just like if a buyer asked a birddog to find a property, once found the buyer buys then he pays the bird dog for helping out. Wouldnt this be same in reverse? I have heard Buyers looking for sellers and sellers looking for buyers. Would it be legal to just trade info. for a price?