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  1. #1
    Join Date
    Dec 2007
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    1,336

    a matter of question

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    I'm really not sure how to approach this issue, or if it's worth approaching or not.

    I referred my parents to a realtor, who is an acquaintance from a swim club I'm a member of. He assisted them in both the sale and purchase of a new home.

    I was told by some people that I should receive a referral or a finder's fee from him. That "fee" would really help me right now, but I'm not sure how or if I should approach him about this. He has yet to mention or give me such a thing.

    Any ideas, adivce?

  2. #2
    Join Date
    Nov 2007
    Location
    Western Canada-prairies, mountain & ocean
    Posts
    6,982
    Interesting. Got any lawyer friends who specialize in B.C. real estate law?

    Unless the finder's fee is required by law, s/he wouldn't be obligated. From a purely business negotiation standpoint, your parents should negotiate a lower commission fee from real estate agent for sale and purchase. (At least, someone in your family should benefit from dual role of the agent.)

    Good luck, can't help here.
    My Personal blog on cycling & other favourite passions.
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  3. #3
    Join Date
    Jul 2003
    Location
    Traveling Nomad
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    6,662
    Quote Originally Posted by badger View Post
    I'm really not sure how to approach this issue, or if it's worth approaching or not.

    I referred my parents to a realtor, who is an acquaintance from a swim club I'm a member of. He assisted them in both the sale and purchase of a new home.

    I was told by some people that I should receive a referral or a finder's fee from him. That "fee" would really help me right now, but I'm not sure how or if I should approach him about this. He has yet to mention or give me such a thing.

    Any ideas, adivce?
    Are you in the business? If you are a real estate agent yourself, then yes, you would get a referral fee, something like .5%, here in the US anyway. My step-dad used to be a realtor and we'd always have him refer us to someone when buying or selling real estate so he could get a little check.

    If you're just a regular non-realtor type person, nope, never heard of that!
    Emily

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  4. #4
    Join Date
    Nov 2005
    Location
    Between the Blue Ridge and the Chesapeake Bay
    Posts
    5,226
    Not sure about Canada, but in the US, if you get a commission without a real estate license, that's a legal no-no.

  5. #5
    Join Date
    Dec 2007
    Posts
    1,336
    nothing to do with real estate license or commission.

    I work with a couple of guys who moonlight as real estate agents. I asked them and they said usually if they get a client through a friend or co-worker, they pay them a small fee ($500) for referring business to them.

    Guess it's different everywhere.

 

 

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