Realtor.com Cost Sharing with Real Estate Agents

[insurance1822]

blah blah blah. The bottom line is I don't pay a DIME to any of my realtors/lenders and I think by leading w/ ANYTHING that results in an exchange of money for leads/referrals is like trying to find your wife at a dive bar.

Lead with service, professionalism and character and they will refer.

 

[cgreene]

Then there should be no problem but many agents are willing to do anything for a policy no matter what law they break.

 

[indienoise]

Looks like loss of license and 10,000 fine. One State Farm lithonia, ga and an allstate agent in Odenville, Al. They still trying to settle without jail time. They were paying agents and loan officers for leads.

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I do a cobranding program with realtors but payment goes directly through a company. This was done at the realtors request because of RESPA. I might cover 70 percent to share a flyer but everything shows separate.

Sounds like a smart approach. Wonder if the guys you know weren't careful to keep their money separate

 

[cgreene]

No they were giving them straight cash idiots. I also sponsor all the open houses in the area.

 

[FL P&C Broker]

No they were giving them straight cash idiots. I also sponsor all the open houses in the area.

So they insurance agents got in trouble by the DOI or whoever governs RESPA? (I have no idea who that is)

 

[cgreene]

RESPA it's federal not state. State could care less about it.

 

[FL P&C Broker]

RESPA it's federal not state. State could care less about it.

So you are telling me the federal government has the ability to fine or revoke an insurance license? I thought that was always handled at the state level.

 

[cgreene]

If it's s RESPA violation they have all the control ask some realtors.

 

[FL P&C Broker]

I know that they have control with realtors. They are not the governing body over insurance agents though.

 

[agentinsouth]

No they were giving them straight cash idiots. I also sponsor all the open houses in the area.

I pm'ed you... We are running into this by 2 agencies giving $50 gift cards per bind to mortgage brokers and realtors.