How can I get commission if I'm not a real estate agent?

You're getting paid to do the footwork -- that is, all front-end research required not only to procure the sale, but also bring it to a successful close. Throughout the business world people and companies earn finder's fees, placement fees and commissions for bringing together buyers, sellers and investors and reflect diligent work by licensed brokers and advisers in fields such as finance, real estate, law and marketing. A commission is the fee charged by a broker or agent for negotiating a real estate or loan transaction and is generally a percentage of the price of the property or loan. There is no such thing as a set commission, however estimate the range to be anywhere from three to ten percent, depending on the ultimate sale price. You might however consider that Finder's Fees are prohibited in some states if your conduct or method(s) of referral exceed those reserved or limited to licensed agents depending on your state's laws. For the state of California basically if you are acting as an agent for an owner, as a manager or leasing agent, and/or collecting a commission or referral fee, a CA real estate license is required. http://www.iremsd.org/other/License/license-2.html http://www.idahorealestatecommission.com/guides/guideline02-06.pdf SAMPLE FINDERS FEE AGREEMENT As of __________ "Finder Fees" are to be negotiated. This replaces verbal / current offering. This agreement is between xxxxxx and _____________________ ( “the Finder” ). It is hereby agreed that any “qualified buyer” introduction provided by “the Finder” to SELLER, [that results in HOME being purchased], shall receive a “Finders Fee” as outlined herein. Qualified Buyers “Qualified Buyers” are outlined by the SELLER; have a specific qualifying net worth over [$ 300,000] and/or a reasonable financial qualifications. “Qualified Buyer” introductions shall be made solely through the FINDER. “The Finders” Fee Schedule 1. “The Finder” shall receive: .a cash commission of _____% of the total purchase price and $_____________ referral fee. 2. "The Finder" shall receive a flat referral fee of $_________ [of equity at $______________]. Options All options, herein are one year renewable under the same terms. [Equity price designated per this agreement.] Any cash or referral fee or equity share may be divided with other parties connected to any introduction, ( i.e. co-introducer ) [at the discretion of SELLER.] SELLER is the only authorized person to accept such referral/introduction, of qualified buyer [an offer to purchase]. This agreement will be recorded by: ________________ I agree to the terms outlined above. __________________________ _____________ SELLER Date __________________________ _____________ Date

It's called a finder's fee and get it in writing.

Unless you have a written contract specifying payment for introduction to a buyer, you are probably SOL. Finders fees are different than commissions.

Hi there, What you are getting is a 'referral fee', not a commission. There is a teenager that ultimately paid her college tuition from referral fees. It is legal! Here's how she did it: http://specialprize.first411.com (Click on the tab that says: 'Growth & Self-Reliance ' over her photo. More Power to You!

You should draw up a finders fee agreement. You may also want to consider having your attorney advise you on this. You can legally write your own agreement and terms just make sure all parties sign and you get it notarized.

well i would suggest getting a law binding contract for him to sign so u can be sure to get ur money

In most states it is illegal for you to broker a real estate transaction without be licensed. All parties involved can get into big time trouble. Check with your attorney, he or she will tell ya

Pull out a dollar from your pocket and buy the property yourself and then sell it to your buyer. This is the steps: 1. create an assignable purchase option contract. Basically it's a contract stating that you have an option of purchasing this property for let's say 2.2 million dollars (a few hundred thousand dollars less than what it's worth) within 2 months. You make it assignable by putting these words after your name in the contract: "and/or assigns". To make the contract legal, you have to give some type of legal consideration as an option fee to the property owner. You then hand the dollar to the owner. 2. You show the property to the buyer. If he likes it, you then assign your contract to purchase the property to your buyer for an option fee of $300,000 dollars. Now your buyer has the option to purchase this property for 2.2 million dollars and you got your money regardless if your buyer purchased the property or not. You didn't break any laws because you technically owned rights to the property and you don't need to be a licensed real estate agent to sell your own property or rights to property. I saved you thousands on late night infomercials! If you become rich off of this deal, remember me and send a few grand my way! Regards