Marketing Fees in Indiana - Legal or Not?

[Stephen Barton]

Hi everyone,

I'm hoping someone can help me here.  My wife and I had some bandit cards printed up stating if anyone found us a deal, we'd pay them a $500 referral fee.  We were told by a fellow investor friend that this was illegal in our state unless the recipient was licensed.  So my question is this:  what about marketing fees?

Some form of this has to be legal because a very experienced and successful investor in our area pays thousands in "marketing fees" each year.

Is a special form required?  And why does the state allow "marketing" fees but not "referral" fees? 

I know this is most likely a question better suited for an attorney but was just wondering if anyone around here had some good background to add to this.  We want to find some way to reward anyone who brings a deal our way.

Thanks everyone!

Stephen