If you knew of a real estate agent that gives 25% of their commission to charity would you use them?

Question

Real Estate agents/agencies charge on average 6% commission for their services. Many times they gain their customers through a referral. These referrals typically cost the agent/agency 25% or more of the 6% sales commission. That 25% goes to the refering agent or agency, usually for doing very, very little. An example is Lending Tree, they charge 35% for their referrals. They have merely steered the customer (you), to a Real Estate Agent/Realtor who then pays Lending Tree a 35% referral fee (of the 6% commission) when you either sell or buy property. Let us suppose that I have a company that does referrals to real estate agents/Realtors and I charge them a 25% referral fee, I then give that 25% to a charity of your choice, not my choice, your choice. It could be your local church, UNICEF, United Way, The Red Cross, any number of thousands of Non-Profit organizations. Would you use a Non-Profit Real Estate Company like the one I'm suggesting? If not, Why? $23 Billion of aid annually...

Answer 1

depends how much their rates are. but probaly.

Answer 2

I'm an agent in Georgia and 6-7% is average. Usually the agent will do a marketing analysis to find out how much properties have sold in your area and then put his/her fee on top of that amount so essentially, the 6-7% isn't really coming out of your pocket. Also, everything in real estate is negotiable so you can ask for a lower amount but keep in mind you get what you pay for so if you try to low ball the agents commission, you may end up with them not doing a quality job.

Answer 3

You are treading on some very illegal issues here my friend. First of all you can not advertise in the united states under the Federal Trade Commission as a non profit affiliated business unless 1. you have a legal relationship recognizing your company with their non profit. 2. Registered through the government in which you disclose on a quarlterly basis your funding 3. Disclose to the public exactly the percentage you are donating out of the profits you receive. Not too mention, you are mixing mortgage lead, brokers with that of real estate which are organized entirely differently under fed and state law. Kick backs are not allowed in the funding process of a loan. NILL I know this because I am a Broker and have been for ten years. It's under HUD law. So my suggestion to you is to call the first RESPA attorney you can find in your area and allow him to consult you on how many illegal actions are in this thought process.

Answer 4

It's a great idea.. but I have a question. I am not a goofy person.. but if it's a non-profit.. how do people make a living? I have NEVER understood that. people work pro-bono.. that's free ? your idea is great.. charity is a very needed thing.. IN THIS COUNTRY.. people don't realize our own country is more at need with hungry children, homeless families, people in shelters, natural disaster nationwide displacement families, medical needs for homeless... and no.. not all people choose to be homeless... children dont choose to live onthe street at 9 years old... OUR COUNTRY needs the charity... so if it would be one I would hope it would be for our own.. not to the government either. not through a referal company like "lending tree".. start one of your own that doesnt take the chunk.. or a lesser chunk. but I say.. BRAVO!!!!! GO FOR IT AND BLESSINGS..

Answer 5

First of all, out of 6%, only 3% goes to listing or selling co, co you can not give 25% of 6%, but only 3%.
If you are trying to better your business, you are better offering 25% back to the customer, especially buyers, because they need money once they move in, or pay for their closing costs.

Answer 6

Seems pretty good, I'd use it if the money really goes to the charity and the company provides a good service.

Answer 7

That is a good idea, some people will buy that Concept. There are all kind of people with different objectives, intention. It will work if you can target to the right group.

Answer 8

Yes, it's honorable, as long as I chose the charity. Cool concept, good luck!

Answer 9

I would use them and any other shop/service that gave to charity.

Answer 10

The charity of my choice would be me.

Answer 11

Yes I will use them