I am a GC. One of the subdivisions that I currently build in has exculsive real estate listings. One of the agents that I have worked with in this subdivision for 7-8 years has brought me a friend, who will be building a home on their land.
For the past few weeks I have met several times with the clients going over plans, looking at the site,pricing,etc..
My question is how should the realtor be compensated for her lead. She has been out of the “loop” however she could have given this lead to a number of other GC’s that she works with as well. The contract for the home will be on my contract.
My other question is how would a commission be paid. When I build houses on the HO’s land they of course secure the loan and pay me as % completion via bank construction draw. I have never delt with a realtor while building a home for a HO on their land.
She has not mention being involved in the process, however I would like to continue to get other leads from her and make it feel that it is worth her while to do so. Would a check be in order.
Replies
Talk to her about this. Around here (California), real estate agents pay "finders fees" for referrals and that may be the practice where you are. Just offering to talk about it will show her that you appreciate the referral and understand that it has value.
The commission is probably a different situation. As I understand it, sellers pay the comission which is split between the agent representing the seller and the agent representing the buyer. The agents will - in turn - pay a split to their brokers.