Not A Penny

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

 

Been in Real Estate for almost three decades. Recently a long time friend/client commented about how well I must be doing with the referrals fees from vendors.

HUH?

Asking for an explanation, he went on to say with my vast list of inspectors, contractors, lenders, appraisers, title companies,  etc. I stopped him right there. 

NOT ONE PENNY!

When I share a name, it is to help my client, giving the best person for the job and referring only people I would use for myself. 

Depending on the client, if there are several high-quality contractors etc. I might recommend based on personality.

There have been occasions when a vendor has offered a referral fee.  No thank you.

Give the client the best price possible! 

These professionals know that I demand excellent service for buyers and sellers. Clients are often amazed how many I can call directly, and will come out, if needed, on the spot.

This kind of service did not happen overnight. It's taken years to build up these relationships.

Name an HVAC, termite, lender, title company, radon, locksmith, decorator or wallpaper remover; I will have one on speed dial. 

But for me...

Not A Penny

 

Questions about buying or selling a home

Call Margaret Rome

Margaret Rome

 

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Tags:
referral fees
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not a penny
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Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Good to see you James Dray 

Apr 11, 2019 06:24 AM #5
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Myrl Jeffcoat Exactly..give the clients the best service.

Apr 11, 2019 06:25 AM #6
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Wayne Martin Pass it on to the customer. 

Apr 11, 2019 06:26 AM #7
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417 And we are on the same page!

Apr 11, 2019 06:27 AM #8
Rainmaker
1,206,659
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Ooooo ... those types of payment or referrals make me nervous as a lender, Margaret Rome, Baltimore Maryland ... just can't do that.  Not one penny!  

Gene

Apr 11, 2019 10:24 AM #9
Rainmaker
3,000,725
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow Margaret, I can not believe how many people think that we make money on the side.  Unreal!

 

Apr 11, 2019 04:25 PM #10
Rainer
356,607
Jana Holmstrup
Jana Holmstrup - CEO - Kings Mortgage Services, Inc. - Visalia, CA

Not a penny!

With thanks,

Your Compliance Officer

Apr 11, 2019 06:34 PM #11
Ambassador
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi I would hope not.

Apr 11, 2019 06:50 PM #12
Ambassador
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Will Hamm I was surprised when my long term friend brought this up. He just assumed that is the way our industry works. 

Apr 11, 2019 06:52 PM #13
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Jana Holmstrup Thanks compliance officer.

Apr 11, 2019 06:53 PM #14
Rainer
156,099
Jim Harper
Atlanta Communities Real Estate - Marietta, GA

Yes Margaret Rome, Baltimore Maryland, yes (to no Thank you)! And some vendors even give us a strang look. But it's for the client and for our ethics.

Apr 11, 2019 08:02 PM #15
Rainmaker
1,493,488
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I'm glad you set your frien straight. That's just "not nice." However, I expect there are some agents who are only too glad to take those referral fees.

Apr 11, 2019 09:53 PM #16
Ambassador
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Jim Harper Yes to no thank you. Good comment!

Apr 11, 2019 10:37 PM #17
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Marte Cliff It was good to set my friend straight. But how many others think this way?   

Apr 11, 2019 10:38 PM #18
Rainmaker
986,613
Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Margaret, A good post to tell public how most agents work with vendors.  When asked for a contractor/lender/vendor, we always make the point that we do not receive a kickback from any of these people, just good trusted service.  

Apr 12, 2019 04:30 PM #19
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Gloria Todor Good to see you. Never thought to make that point but after the question...might be a good idea.

Apr 12, 2019 04:43 PM #20
Rainmaker
489,282
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Another incorrect perception about our business!  I always emphasize that I don't get a kickback or $$ from any vendors whatsoever.

Apr 14, 2019 02:28 PM #21
Ambassador
875,304
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Great topic!  I read a report today that explained many people, especially young people, assume a recommendation is made on the basis of referral fees.  That's a terrible impression, because the referral is often made to the person best able to serve them!  

Apr 14, 2019 06:19 PM #22
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mary Hutchison, SRES, ABR Good to see you. Why should we have to emphasize? It is like saying: "Trust me, I'm honest."

Apr 14, 2019 06:21 PM #23
Ambassador
2,917,506
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

John Meussner Whether a vendor, lender, agent, friend or relative...the referral is often made to the person best able to serve them!  

Apr 14, 2019 06:24 PM #24
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