New spin on working with realtors?

Question

I've read thousands of posts on this site and others and I don't recall ever hearing this idea, at least not called out specifically.

I was thinking, since a licensed agent can't give a non licensed person a fee/commission for deals (short sale, low equity, unrealistic seller, etc), how about partnering with an agent to split marketing costs? I know some investors sell leads to agents on a per lead basis, but I think maybe approaching it like a partnership would be better, and if I were an agent I sure would appreciate someone doing the heavy lifting for me.

Since I would be doing the initial legwork and pre-qualifying the sellers, I don't think it would unreasonable to also get comps and MLS data out of the deal also.

AFAIK, that wouldn't be a violation for the agent and it would ultimately mean more deals for everyone.

thoughts?

David Tower · Answer

Right....but i'm focusing on how an agent can pay me, in the form of paying half my yellow letter costs while benefiting themselves also.

Traditionally, the advice is to give all your dead leads (not the ones interested in seller financing) to a realtor. In return, the realtor (should) give you comps when you need them and MLS data.

Well, if I'm giving a realtor multiple thousands of dollars in off market listings, I think perhaps splitting the cost of a $1000 yellow letter campaign is not out of the question.

Most agents are not good at marketing which is why they struggle as agents (I said most, not the good ones....the data supports this). I see it as a win-win.

Ibrahim Hughes · Answer

In most states, an agent can only be paid through their Broker (who will take a cut of their commission).

Ibrahim Hughes · Answer

Gotcha.  Actually, it seems like a pretty good idea.......at 11:15 at night (past bedtime). Let me sleep on it. But sounds good!