Qustion on referals

Qustion on referals

I have managed to find some investors / buyers that want to work on a referal. My question is if I send the investor a referal agreement and he / she signs off then I pass the information off, How do I know if he / she buys the property ? or am I going about this wrong ?
I know if I do an assignment I lock it and have control of the property, but I am not locking referals so I need away to be able to track it.

Thank you


Hi Rocco

I'm not sure of what you mean by referral agreement. It almost sounds like you are bird dogging. When I was doing that my contact with the investor was introducing myself by emails and over the phone. We made a verbal agreement on the price they would pay if they closed on a property. Also, on some of them, they actually used my realtor to get them in to see since they didnt have one in my area. That way she knew what happened with their offers. I never closed a deal this way unfortunately but I do trust they would have happily paid me if they had. But I can see where a written agreement as to your fee would be an important thing to have and I'll remember that for the future! Good luck!