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01-24-2008, 09:15 AM #1
Renter
- Join Date
- Jan 2008
- Location
- Missouri
- Posts
- 4
Fee-for-Service Real Estate?
I am a relatively new agent, and am interested in offering fee-for-service options to my prospects. Basically, I would break down the services I offer (open houses, paperwork, etc) and associate either an hourly or flat fee with that service. As far as I can tell, this is legal, at least according to the NAR. My question is actually how to approach it with my broker - should I discuss it with him upfront, or would he even be entitled to any of it? I am currently on a graduated commission scale, so that might be an issue.
My initial thought is that I can do this, but if anyone knows otherwise, like if it's not legal in Missouri or Kansas, I would really appreciate the advice!Jessie Roberts
Real Estate Consultant
Realty Executives Metro One
Kansas City Metro Area
(816) 777-5644
jessieroberts@realtyexecutives.com
http://robertsrealestateupdate.blogspot.com
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01-26-2008, 10:42 PM #2
Condominium
- Join Date
- Jan 2008
- Location
- NW suburbs of Chicago
- Posts
- 107
I can't speak to the legality in those states. The problem I see is that if you just assist in the paperwork or just an open house you will be handicapped. Each time you attempt to render your services you will need to bring yourself up to speed on that piece of property in a short amount of time and the time you spend on it will be minimal.
This increases the odds of making a mistake, misrepresenting something, generally not providing adequate representation to the seller. They will have a higher level of expectation than you will give them no matter how well you explain it.
The worst thing you can do for your career is damage your reputation.
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