I have been doing some research, and it seems some places pay finders fees if you give them a lead for a home and the purchase goes through. Some times five hundred and up. I know how to look for the homes, what sources to use etc... but would I need a license to get paid? And how do I know that I will actually get paid. Is there a legal form to sign ahead of time or what?
Rocky
Favorite Answer
no but you do want an investor that will pay you so line one or two up...each will be looking for their own likes when investing some like small some like large its no good to find if no investor is wanting to invest in that type...run an add on crags list that you want to be a bird dog in your area..
loanmasterone
Most smart successful real estate agents would have a network of finders to provide them with leads of individuals that would want to purchase and list properties.
How much these finders are paid and the reason they are paid is at the discretion of the real estate agent. Most real estate list this charge under something like advertising or under some other expense. These type real estate agents build a team and would pay way above what the legal law authorize in your state. These agents are successful because they take risk and their team work on their behalf.
These agents have came to the conclusion that they would have to pay an advertising fee with no positive results but would rather pay a finder with a buyer or someone that wanted to list in hand standing in front of them.
You would need to make available your services to many real estate agents. Some would want to offer you as little as $45.00 to $50.00 for leads. Most of these are around what a state law allow for a finder's fee. Most might not desire your services.
This might require you to speak with many real estate agents that understand what you are able to bring to the table and be of assistance to them. Make sure you get something in writing as sto the type finder's fee you would be getting.
You might also consider offering your services to real estate investors. When a house is in disrepair, appear abandoned you might find a real estate investor that would pay for this information. In some quarters
A finder would not need a license. In most instances you would be paid and issued a 1099 for tax purposes, therefore the real estate agent would be able to deduct this expense from his taxes.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
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coraann
You do not need a license to find a home for sale,for anyone. However,you cannot be sure you
will get paid once you give the information. Don't accept checks either. If you know the realtor
personally and trust him, that could make a difference.
I know of no legal form,but you could draw up your own.
glenn
In every state I am aware of you would need a real estate license in order to be paid hundreds of dollars for this. In Texas the limit is $50.00.
I have been a real estate agent for 36 years and never even wanted to pay for leads but maybe there is someone that will. I think this is likely to be a scam you are seeing.