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As above, it's like a referral fee when it must close, and you must be licensed to receive that.
HOWEVER, you can market that you are giving out gift cards to any referrals received, period. It CANNOT be contingent upon the referral closing. If it's just a gift, it's just a gift, and not considered a referral fee. I used to send lotto tickets to anyone in my sphere who sent me FSBO addresses they saw while driving around.
I've been told by our Florida Association legal hotline that we cannot offer or give a gift for a referral. It doesn't matter if it results in a sale or not.
Location: Sarasota/ Bradenton - University Pkwy area
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Quote:
Originally Posted by bbronston
I've been told by our Florida Association legal hotline that we cannot offer or give a gift for a referral. It doesn't matter if it results in a sale or not.
Here in Omaha Nebraska it's a no no also. We've had several agents get in hot water for offering gift cards for referrals. I will say that when I have been referred to a new client by a client i'm working with as well as a previous client I make sure to write a hand written thank you note and do a "pop by" with a pie from a local cafe. No monetary value connected to it however it's a nice gesture to let the clients that referred me know that I appreciate them. I will say advertising that wouldn't yield the same results as advertising a gift card however word will get around that your name is associated with some really yummy pie.
Here in Omaha Nebraska it's a no no also. We've had several agents get in hot water for offering gift cards for referrals. I will say that when I have been referred to a new client by a client i'm working with as well as a previous client I make sure to write a hand written thank you note and do a "pop by" with a pie from a local cafe. No monetary value connected to it however it's a nice gesture to let the clients that referred me know that I appreciate them. I will say advertising that wouldn't yield the same results as advertising a gift card however word will get around that your name is associated with some really yummy pie.
I wouldn't refer somebody because of some really yummy pie. If a person trusts my judgement enough to ask me for a referral for what is likely to be the single largest purchase of their life, I'm giving them the name of the best agent I know to suit their needs.
I admit that this has pissed off a few friends who went into real estate and didn't get referrals from me.
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