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Updated almost 6 years ago,
Commission Vs. Referral Fee
I'm an unlicensed Investor working under a business. If an unlicensed person brings me a buyer for my PA in a wholesale deal ,I can pay them a referral under their BIN or EIN.
However, If a licensed agent requests commission for bringing a buyer to a deal where an agent is already assigned in contract, and we are unwilling to negotiate commission, how can I legally pay her a referral fee for bringing in a buyer?
I am willing to pay a referral fee of 1000.00 Less than commission, yes, but a great deal for just bringing a buyer. An agent said she'd only make like 5 dollars after broker fees...why is she talking about broker fees when I would pay her a straight 1K? And how do I legally pay these fees to agents?