working with other agents

[MOHEALTH]

OK I posted this earlier and got no response...perhaps the geniuses in here can answer this for me....( Chumps, thanks for your reply)

Is there anything that limits what or how I can compensate other agents (i.e. P/C agents) for referrals?

I'm well aware that giving away things to clients is a no-no...but what about other licensed agents? Or anyone for that matter? Just trying to avoid any issues in the future.

 

[TheSalesWolf]

You can give them a percentage of the commission as long as they are licensed. I offer a 50/50 agreement to P and C agents that hold a health license. They give a lead and I close it and pay them half the "Street Level" commissions.

I know a lot of agents on here think it's crazy to do that but I close 90% of the referrals so I look at it as a no-brainer. No Marketing costs and the hottest lead you'll ever have.

Now if they don't have a health license you can still give them a "Finder's Fee". I'm not sure the exact limitation I just know that you have to make it equal across the board for everyone.

 

[Delta76]

If they are unlicensed, you can't tie the referral fee to closing the sale (at least in my state). For example, you would have to give the referral fee for each referral, whether or not business is completed.