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Updated almost 10 years ago on . Most recent reply
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- Residential Real Estate Broker
- Puerto Peñasco-Rocky Point, Sonora, Mexico
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What is a referral fee amount?
I didn't know where to ask this question, forgive me if I am in the wrong section. The question is, if I have an owner/developer of a property that is seeking funds to complete it, and I find the investor that has the money for JV or loan or whatever they work out, I heard one time that whatever amount they settle on, my owner would pay me, not the investor correct? And that owner could pay about 1 to 2% of the amount settled on, does this sound correct? I was told that years ago, and 2% is warranted because of the scarcity of money. Another person told me that it should be a finders/referral fee of WAY less like .000625 which sounds crazy but I am willing to listen to what makes sense. Thanks!!!
I am in Mexico, so U.S. rules will not apply.