Typical referral fees for short sales?

[Sage Jankowitz]

I've started up my wholesaling business recently, and in addition to all the investors, hard money lenders, and wholesalers I've met, I come across many short sales specialists. My focus is 100% on wholesaling, but I'd love to help these people out and send any deals that can't work for me their way. What sort of referral fee should I be asking for and what kind of contract or agreement do you have in place to make sure the other side lives up to their word?

[Michael Shadow]

It depends on the value of the property and also how great the deal is. If it's a $40k property don't expect a $2k referral fee. If it's a $1m property a $5k fee isn't out of order. I make my referral fees in line with how great of a deal it is and how much homework the birddog has done for me.

-Michael