Collecting a referral fee -- Advise against??

[Jason K.]

How common (or uncommon) is it to refer one of your investors to another wholesale deal that is not your own, and collect a pre-arranged amount from the wholesaler, before or after closing?

Does the business frown upon on this sort of practice if one began to develop a reputation that "he just refers his own buyers to other deals", or does neither party (wholesaler/end buyer) care because ultimately, they are both making money. Are there legal issues here?

Please advise…

Ps. If a licensee engaged in this transaction, would he or she need to disclose to each party that they are licensed, or are they not considered part of the transaction?

[Vikram C.]

I can only speak from my perspective as an investor. I get wholesalers offering properties to me all the time. I only care about my net price and do not really care how the compensation is split between the wholesaler who has my contact information and the wholesaler who identified the opportunity.