Join Date: Feb 2013
Thanked 18 Times in 10 Posts
Referral fees to Brokers
We are trying to move out of P&P into more of the private sector this year and are looking for ways to attract more broker direct business. Most of the brokers in this area already have their go-to guys (family/friends, usually) so we're trying to get creative with our methods and move outside of the traditional swag & food arena.
Do any of you offer "referral fees" to brokers? I know the brokers don't care too much about pricing since they're just passing it on to their clients, so we thought maybe some sort of referral fee might be attractive to them to give us a try. Are there any legality issues to this method? I've done a brief google search and am only finding things related to broker to broker referral fees, nothing to do with our scenario.