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Referral fee update
Apparently our recent blogging about referral fees and relocation companies have sparked some interest in the press; Inman News is doing a 3 part feature titled "Inside look at change in relocation industry", Unfortunately it's tucked away behind the members only screen so I believe you have to be a subscriber to read it.
Since I wrote and was interviewed for this part I feel fairly secure in quoting myself from the article. ;-)
"After-the-fact fees
Rising relocation fees are not the only concern to real estate agents and brokers -- there is also an ongoing problem with so-called "after-the-fact" requests for relocation-related fees.
"One of my huge gripes, (shared by) lots of my fellow Realtors as well, is a relocation company that sort of 'parachutes' into a transaction after you already have a buyer or seller under contract, often just before (and sometimes even after) a closing and demands a referral fee for the privilege of working with 'their' client," said Jim Lee, a real estate agent for Realty Executives Associates in Knoxville, Tenn."
HEY! HEY! HO! HO! Relo Co.s have got to go! made it into the article and may have even been the impetus that got the whole series started.
I feel very strongly that ... more

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