Real Estate Forums

brogan007 · 02-01-2008, 04:09 PM

What if you could collect some information from the buyer, send that along to a loan professional, and be assured that the client gets top notch service and a competitive quote on a mortgage. It could be the first stop in "loan shopping" process for them. It's a service you can now offer above and beyond your usual program. The kicker is...for participating and doing the initial input of data and a few tasks, you get compensated. It's not a referral fee...that'd be illegal. You need to do work and be properly licensed for your state. In some states a loan officer license is required but in many others it's not.
Hmmm...interested in adding an income stream ???
We have such a program and we're happy to talk with agents about how it can fit in with their needs. We are currently licensed in 15 states!
Call or e-mail us for details.
George Lambie
919-741-0847
brogan007@yahoo.com

Bigtoe · 02-02-2008, 09:05 AM

Referral fees have never been illegal as long as they are disclosed.

Orlando MLS · 02-11-2008, 09:12 AM

Bigtoe - it depends what state you live in. In many states referral fees are illegal between a mortgage company and a real estate firm.

Respa compliance is required as well as a dual disclosure notice in my state for it to be legal to receive payment from a lender or mortgage broker.

brogan007 · 03-13-2008, 04:09 PM

After only 3 months of rolling out this unique model, we are finding that real estate broker/owners...when they see it...are jumping all over this opportunity.
Why wouldn't they?
With 100 agents, each sourcing only 6 loans A YEAR...the broker adds $300k+ to his bottom line. The agents make $1k per loan as well. (200k loan with average margin)
Call me for some details, it's so straightforward, I can show you over the phone if you are at your computer.
George 919-741-0847
brogan007@yahoo.com