What amount makes a motivating referral fee? - Posted by jim

Posted by Brent_IL on August 15, 2003 at 11:04:41:

Periodically there is animated discussion on this, so I?d check the archives for birddog fees.

My goal is to try to get folks to disengage because I only want to make an offer presentation to someone who is anxious to receive it. The more I know, the better my initial conversation will go. I don?t mind paying more for more information.

Others have said that all they need is contact information. They can make the deal, and they figure that it’s a deal they wouldn’t have otherwise, so it?s worth paying out some money.

I think $500 should spark some interest, but not from those in the RE business unless their involvement is peripheral. The keystone is the amount of training that you give bird dogs. If someone knows what you are looking for, and you’ve taught them the best places and methods to gather the information, you will get more consistent results.

Although, $500 will buy a lot of bandit-signs for a shotgun approach. I guess its pay up-front v. pay when the deal’s done.

What amount makes a motivating referral fee? - Posted by jim

Posted by jim on August 15, 2003 at 09:44:16:

I’ve spoken to some people in the RE business and told them that if they refer someone to me and I buy their property, I’ll send them $500 cash. Guess what? Notta one.

For those who get people motivated for referrals, what amount of $$$$$/referral fee gets them motivated?