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Illegal Kickbacks and Referral Fees - The Request Absolutely Drives Me Crazy and I Just Don't Get It
Last week, I got a call from a real estate agent who wants to interview me to be one of his referral partners, one of his preferred lenders.
"Aaron, I have heard great things about you.  I read your newsletter each month.  I know you know what you are doing and in today's market, that's what I need," he said.
I was thrilled.  I love getting those calls.  We set up a meeting for this Wednesday at Starbucks.  Doesn't every real estate meeting take place there?
Anyway, today, this agent calls me.  "Aaron, I have a client for you. Give him a call."
Even better.  We haven't even met yet and I am already getting business from him.  I was thrilled again.
Then he said, "By the way, we can discuss my referral fee on Wednesday when we meet."   Before I could say another word he hung up.
I could only shake my head in amazement.  Wednesday's meeting is not going to go as well as I originally expected.  I now know why this guy needs a new lender as a referral partner. 
This isn't the first guy who has asked me for a referral fee.  I would say in my career, no less than 20 agents have asked me.
I would never, have never, ... more

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