Real Estate Loan Traffic and Leads
- Thread starter Graybeard
- Start date
100kinvesting
New Member
Hey, Graybeard. I work with a couple of such loan groups, that focus on real estate, both commercial and residential. I get paid a percentage of the loan, and would be willing to JV my commission.
Graybeard
Well-Known Member
Under what license are you paid points? I was worked for a CFL lender in Los Angeles years ago 
I brokered and wrote TD loans. You need a RE Broker or a Lender's license of some type from the states you operate in.
I have FDIC member lists finding banks to pay finder's fees for applications may be doable.
Actually, the way interest rates are heading this may not be a bad thing to do -- depends if the game just gets expensive or the next greater recession develops ...
I brokered and wrote TD loans. You need a RE Broker or a Lender's license of some type from the states you operate in.I have FDIC member lists finding banks to pay finder's fees for applications may be doable.
Actually, the way interest rates are heading this may not be a bad thing to do -- depends if the game just gets expensive or the next greater recession develops ...
100kinvesting
New Member
How it currently works is one of two scenarios:
1) They have an affiliate program, or an "independent agent back-office." I refer the people to them, they do all the leg work, and I get a percentage.
2) In a similar range, I refer them to the main people, and per our contract, after they get paid, I get paid.
I'm focusing more on the first, since there's a whole thing to keep better track of what's happening with the referrals.
Another option I'm looking at, is that some offer to donate the "referral fee to a charity or like cause." I'm a Deacon of a tiny church, and looking into the ins and outs of this.
1) They have an affiliate program, or an "independent agent back-office." I refer the people to them, they do all the leg work, and I get a percentage.
2) In a similar range, I refer them to the main people, and per our contract, after they get paid, I get paid.
I'm focusing more on the first, since there's a whole thing to keep better track of what's happening with the referrals.
Another option I'm looking at, is that some offer to donate the "referral fee to a charity or like cause." I'm a Deacon of a tiny church, and looking into the ins and outs of this.
Graybeard
Well-Known Member
- It's against the law to pay an unlicensed person a percentage of a loan.
- You can pay a flat rate finders fee -- whether that fee can vary with loan size I would need to clarify.
- Cleanest deal is an application fee -- like CPL maybe $100.00 per lead they accept.
I am stuck in that scenario now -- in an international affiliation ...
You can use the help of seo companies for these purposes.
LanaGilbert
New Member
Now it might work for you if they have an affiliate program or an independent agent back office. Then you send people to them, they do all the work, and you get a percentage of the operation. But it's a questionable operation and not necessarily legal. It's best to go to specialists who know about loans. This is especially true for large loans and credits. So if you are considering taking out a mortgage, you can take Mortgage Advsior Birmingham advice. Essentially, a mortgage broker will act as your personal representative to the lending institution and take on the issue of negotiating with the Bank, should any issues arise. Would you be able to take on that responsibility?
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