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Read Transcript for “How Realtors And Real Estate Investors Can Work Together”
We can help realtors out by getting them leads while making money for ourselves. I’ll explain more…
“Thanks for the opportunity to ask questions. I’m a member of your monthly “Cash Flow Newsletter”. I’m looking forward to the next call any time. I have your manual, the Push Button Method and the Las Vegas seminar.” – Mike Manahan, Missouri
Joe: Great, thanks!
“Also, I have the following questions. I know you’re not a lawyer, and you can’t give legal advice but what common sense answers can you give to the following? 1) How do you get around state laws regarding not getting referral fees for referring business to realtors? I know that you’re big on getting multiple streams of income from all of the participants in a real estate transaction. How do you get paid?”
Joe: Good question. Realtors cannot pay a referral fee to someone who is not licensed, but realtors can pay for leads. So the way I suggest that you approach this is to say, ‘Look, I’ve got some leads that you can make some money on. What would be the best way for you to pay me that would be legal for you to do? Would it be valuable to you to have these leads? Could you make some money if you had a bunch of buyers, or you had a bunch of sellers?” We sell seller leads and buyer leads to realtors and we make a good deal of money.
Joe: So, they can sell them to me as leads and some of them won’t work with you, but they’re the ones that have a very small, closed mind and they don’t see the possibilities of what they could make if they had a ton of leads in their lap.
Joe: Right now, realtors are hurting in a big way, because property sales have dropped about 25% just in the last month, so it’s a tough time for realtors. A lot of them are going out of business and going to find business elsewhere. And for you to be able to come to them and say, ‘I’ve got a dozen leads. Could you do something with them? Would you like to make some money with them?’ I think they can probably figure out a way to do it in a way that’s legal, because you want to make sure you follow the rules. So that’s it. I hope that helps.