Commission or no commission?

[Greg Palmer]

Hello,

Just throwing this out there for your opinions. I am working with a group looking to buy a 24 unit apartment complex which is currently off market but had been listed previously for a couple of years. A realtor told me about the place from a tip he received from the realtor who was the former listing agent ( I think it might have expired 4-6 months ago). If we go ahead and buy this the agent who tipped me off about it thinks the old listing agent should get a commission for bringing this to our attention. The former listing agent is providing an updated BPO, which I'm not sure why as they don't have a listing agreement anymore with the seller. I'm thinking at best maybe a referral fee or something like that. What do you think?

Greg

[Steve Olafson]

On a tip from the agent!  You would not have known about the deal without this other agent.  This is how the business works.  Do you want deals to come your way or not?

I always treat the person that brings me a deal with a lot of respect.  Your relationships are important to deal flow.