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Advice on referral (realtor)1799

htimsabbub23 private msg quote post Address this user
Need advice with how to handle a referral program in terms of Realtors. I know the industry standard (in our area) when you take a realtor a referral they pay 25% referral fee. We would like to require that they use our Matterport tour upon referral as well. What is best practice for this and should I have contract with these referral type partnership
Post 1 IP   flag post
Maria private msg quote post Address this user
I would discuss it with the refered agent and then put the agreed upon language regarding the Matterport tour into the referral contract.

Upon reading the following post and rereadin yours, I have to ask, are you a licensed real estate agent? If not then you would not likely be eligible for a referral fee, as for contracted for services, I would not put that into a contract. The agent should earn the listing based on their reputation and ability.

If you are just a Matterport provider, and know the sellers, I would sell your service to the sellers and the sellers can then ask the agent to make their reimbursement at closing part of their listing contract. Many agents would be thrilled to have a listing that is ready to hit the ground running with marketing materials they can use.
Post 2 IP   flag post
Mikesobay private msg quote post Address this user
@htimsabbub23 You could probably add this as a condition to the referral agreement. I would check with legal counsel for your realtor organization to be certain it doesn't violate HUD RESPA rules, as it might be seen as a 'kick back', only because I tend to be cautious about such things.
Post 3 IP   flag post
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