Criminal Violation – Be Careful
In years gone by, Realtors have paid referral fees to
friends, family or clients for business. This is now a violation of Federal
law! You can never pay anything of value to a non-licensed person in exchange
for a referral. Example:
“When one competitor sees another competitor’s real
estate agent friend in their seats at the stadium, it is much easier to submit
the RESPA complaint and much easier for CFPB to investigate and act. And that
is what they intend to do. For tools and products to prevent RESPA violations,
visit www.realtor.org/respa.”
Reminder – DO NOT pay referral fees.
Thanks,
Dan
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