644: Help! My Realtor Wants me to Pay a Referral Fee

What do you say when a realtor asks for a cut of your commission?   In this episode, I respond to a common question from brokers: “My realtor wants me to pay a referral fee—what should I do?”   This is a situation a lot of brokers run into. It can feel awkward, especially if you’re trying to build the relationship. But saying “yes” to the wrong deal can actually cost you way more than you think.   I’ll break down how I think about this, how to respond professionally (or directly), and why you should focus on trading clients—not cash. We’ll cover: Cash vs. Clients – Why cash is a dead-end—and clients are long-term profit. Paid Referrals Rarely Work Long Term – You get a deal, but you rarely get loyalty or repeat business in return. How to Respond to the Ask – Two scripts—one polite, one direct—that help you keep control of the relationship. Become a Deal Multiplier – How to build partnerships that last by generating business, not just taking it. Structure Smarter Collaborations – If you're going to invest in a realtor relationship, make sure it’s performance-based. If your value is just a referral fee, someone can always outbid you. But if you're a deal creator, you're unfirable.   Check out the post here   Follow Scott on Instagram: www.instagram.com/scottpeckford/ I Love Mortgage Brokering: www.ilovemortgagebrokering.com Find out more about BRX Mortgage: www.whybrx.com   Join my newsletter!   I Love Mortgage Brokering is in partnership with Ownwell. To learn more, visit: ownwell.ca