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#455794 - 12/08/16 02:04 PM Passive Income...Additional income for brokerage
TRGBRoker Offline
Junior Member

Registered: 12/08/16
Posts: 3
Loc: New Jersey
Hello everyone,
I have my own boutique office in New Jersey. I've been open a little over a year. Learned A LOT in this short time of running my own company. Many ups and a few downs.

My question is what do you do for passive income in your office? I've heard of some companies getting paid a percentage from mortgage companies, title companies etc (isn't this illegal and a violation of RESPA).

Just want to hear what others are doing for additional income.

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#455797 - 12/09/16 12:05 AM Re: Passive Income...Additional income for brokerage [Re: TRGBRoker]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2273
Loc: Outer Banks
Passive income gets nailed at tax time. You want all you income to br active.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#455810 - 12/10/16 12:42 AM Re: Passive Income...Additional income for brokerage [Re: TRGBRoker]
SoFLBroker Offline
Member

Registered: 04/20/07
Posts: 174
Loc: Florida, Treasure Coast
Working with Mortgage and Title companies isn't illegal. You must fully disclose the relationship.

Now, what I have seen is ad space. A broker may place some kind of bulletin board in the lobby area of their office and charge a fee for those businesses to leave brochures and business cards.
_________________________
Selling Foreclosures from the Treasure Coast to the Palm Beaches!


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#455814 - 12/10/16 05:15 AM Re: Passive Income...Additional income for brokerage [Re: SoFLBroker]
TRGBRoker Offline
Junior Member

Registered: 12/08/16
Posts: 3
Loc: New Jersey
Thank you. I thought that would be considered a kickback. Thanks for the clarification.

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