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#450276 - 02/03/16 12:54 PM Family Referral...Is this right?
monika076 Offline
Junior Member

Registered: 02/03/16
Posts: 1
Loc: WV
Last night I met with a friend I have known for 6 years. She asked me to help her find a new home. Today I received a voicemail and email from her sister who is an agent in another state saying she would like to discuss the referral of her sister to me.
What are your thoughts on this?

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#450280 - 02/03/16 02:04 PM Re: Family Referral...Is this right? [Re: monika076]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1610
Loc: Cleveland, Ohio
Eeek! That can get tricky.

I would chat with your broker about it.

We've had that happened to us before... we got a client, start working with them and then all of a sudden the guys brother calls us up to ask how it's going with his brother and about the referral. "Referral????"

Never even spoke to the clown before and he wants a referral fee, and the buyer failed to mention his brother was an agent in another state.

It's bad business practice on the other agents part, but if they want the referral then give it to them. No point in losing your friend as a client (or as a friend), unless you don't care to work with them.

But, again, I'd take this up with your broker.

Good luck!
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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#450507 - 02/12/16 01:48 PM Re: Family Referral...Is this right? [Re: monika076]
barb43 Offline
Veteran Member

Registered: 08/01/08
Posts: 1154
Loc: SW Okla
Does your office have a standard referral fee? We do many referrals per year, and our standard fee - whether inbound, outgoing, or shared among Realtors in the office - is 25%.

Always know your broker's/office's policies. And then, yeh, agree to 25%, if they want more, tell 'em "Well, I can't because that's our office policy." That takes it off your back. wink LOL
_________________________
Remodeling houses & helping tenants get ahead in life since 1983. Licensed Realtor since 2005.


LIMITATIONS: Until You Spread Your Wings, You'll Have No Idea How Far You Can Walk. - despair.com

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#450516 - 02/12/16 03:48 PM Re: Family Referral...Is this right? [Re: monika076]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7626
Loc: Vermont's North-East Kingdom
Normally, the details of the Referral are ironed out between the Originating Agency and the Receiving Agency BEFORE the Referral is made; NOT after it has been made.

Even the identity of the "party" being referred is kept confidential until an Agreement is reached, because often, an Agreement is NOT reached, and the Originating Agency has to go elsewhere.

The Referral described in this thread is quite different from what's normal.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#450537 - 02/13/16 09:09 PM Re: Family Referral...Is this right? [Re: monika076]
barb43 Offline
Veteran Member

Registered: 08/01/08
Posts: 1154
Loc: SW Okla
Well, the referral described in this thread is rather 'quasi-normal' in this locale. That's why I'm not too surprised at it, and, if I wanted to do the deal I'd agree to it. For one thing, our market is merely lukewarm at best. I'll do all the deals I can do, anything legal and ethical that makes money.

No need to lose my friend over this, nor lose sleep either. Just my opinion.
_________________________
Remodeling houses & helping tenants get ahead in life since 1983. Licensed Realtor since 2005.


LIMITATIONS: Until You Spread Your Wings, You'll Have No Idea How Far You Can Walk. - despair.com

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#451382 - 03/18/16 12:08 PM Re: Family Referral...Is this right? [Re: monika076]
ScottBowland Offline
Member

Registered: 02/25/16
Posts: 31
Loc: Penticton, BC, Canada.
Seriously? If they discussed it with you before hand of course I would give them a referral fee, but not after the fact.

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#451459 - 03/19/16 06:49 PM Re: Family Referral...Is this right? [Re: monika076]
I_Like_Realtors Offline
Junior Member

Registered: 02/12/16
Posts: 4
Loc: US
I hope it's OK if a non-agent posts in this thread. So the OP was approached by a friend who already knew her, and now the friends slime-ball sister wants to get in on the act even though she didn't actually make the referral?!

We have referrals in my industry, IMHO it's just as important that you set limits. Sure, that may mean walking away from a sale, but just as often, if done professionally and politely you won't lose the sale, and you won't have to throw away 25% of your profit to someone who's done [b]nothing[/b].

There are two possibilities here:
1. The sister (agent) decides she doesn't want to push it and tells her sister "go ahead and work with her, you know her". Or the sister (client) won't want to choose an agent she doesn't know just so her sis can get a cut.
2. You lose the (potential) sale.

My point is, I would not assume "no" equals no chance. Option 3 would be to offer a much lower referral fee than normal. That might placate the sister, who has to know she is operating outside bounds here. Or not.


Edited by I_Like_Realtors (03/19/16 06:54 PM)

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#451463 - 03/20/16 10:21 AM Re: Family Referral...Is this right? [Re: monika076]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7626
Loc: Vermont's North-East Kingdom
Having given this another month's thought, it reminds me of a deal I had a couple years ago when AFTER showing a home to an Elderly Couple, and AFTER writing up an Offer, I got a call from their Daughter who was an Agent here in Vermont but about 150 miles away from the Subject Property.

This Girl actually wanted to Co-Broke on the Deal because she would like to be able to represent her Parents. Her reason for not being involved in arranging the Showing or any of the subsequent events was that she had been surprised and didn't know they were that close to buying already.

I just told her "that's nice; but this train has already left the station", and that was the end of that. I think I added (cruel person that I am) that she might want to get in line so that she has the chance to represent her Parents when they sell . . . . pay attention. You snooze and you lose !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#451466 - 03/20/16 02:51 PM Re: Family Referral...Is this right? [Re: Vermont]
I_Like_Realtors Offline
Junior Member

Registered: 02/12/16
Posts: 4
Loc: US
Sure would be nice if the OP would give an update, would be interesting to hear how it turned out.

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#451467 - 03/20/16 02:57 PM Re: Family Referral...Is this right? [Re: monika076]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7626
Loc: Vermont's North-East Kingdom
She probably just popped in on February 3rd to make her one and only Post, and then promptly forgot that she was ever here . . . . never to be heard from again.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#451712 - 03/31/16 04:17 PM Re: Family Referral...Is this right? [Re: monika076]
KeepinitREALTOR Offline
Member

Registered: 03/17/16
Posts: 27
Loc: Mountain West, USA
I'm still trying to be top of mind for my own friends and family out of state, so that they remember that I can refer them to a reputable, top performing agent in their area if they don't have a REALTOR they know and love.

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#451840 - 04/06/16 11:31 AM Re: Family Referral...Is this right? [Re: David Hunter]
FENIX Offline
Member

Registered: 04/04/16
Posts: 18
Loc: Phoenix
I would start having clients sign a disclosure statement stating whether or not they are a referral from another agent. This would help minimize any agent trying to capitalize on this type of scenario or a client simply forgetting this and doesn't know how the system or code of conduct works. Just my 2 cents. I agree though, in this situation, bring the broker in on it.

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#451884 - 04/08/16 05:37 AM Re: Family Referral...Is this right? [Re: FENIX]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2214
Loc: Outer Banks
Originally Posted By: FENIX
I would start having clients sign a disclosure statement stating whether or not they are a referral from another agent.


1. Where would this form come from?
2. You obviously have never tried to get a brand new client to sign some home made contract.
3. If the buyer signs your disclosure, how would that prevent any of this happening? Afterall, the buyer did not initially know that her sister could get some of the commission, now she knows and wants her sister to get the money, so what would your disclosure actually do?
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#451997 - 04/14/16 03:32 PM Re: Family Referral...Is this right? [Re: Bigtoe]
KeepinitREALTOR Offline
Member

Registered: 03/17/16
Posts: 27
Loc: Mountain West, USA
Watch it Bigtoe, do you know who you're talking to? He's going to be the next Gary Keller of the Southwest.

Hey Fenix, have your read any of Gary Keller's books, he actually lays out the formula, for you to do that.

In all honesty, I think Fenix just wants to get his post count up so he can access the BPO/REO section.

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#453894 - 08/12/16 01:08 AM Re: Family Referral...Is this right? [Re: monika076]
goasya Offline
Member

Registered: 07/16/16
Posts: 59
Loc: Karnataka,India
Gotta say I'm also looking forward to the update and see how it turned out

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