Property Leads that have no Equity

[Account Closed]

For properties that have no equity, where a short sale would be in order, would you guys recommend that I just go ahead and send that lead over to someone else who specializes in short sales since I have no experience in this?

And if so, how much for a referral fee?

Thanks guys. Your advice is priceless!

[Shelby Washington]

Hello Amy,

I think you should definitely give the lead to someone who specializes in short sales. The first thing you have to do is become an expert in your field or whatever your niche that you specialize in. You definitely shouldn't take the lead if you don't know what you're doing. You need to educate yourself on how shortsales work inside and out. You could give this lead to some and ask if you could shadow them so you can get on the job training.

I think you should ask for at least $1k. I always believed in getting paid well for the leads that I pass on. Since you've pre-qualified the person and they know someone will be giving them a call you should get a handsome reward. They're probably going to make at least $5k to $10k minimum. So $1k isn't a lot to ask for.