Currently working as a receptionist at a big commercial real estate mortgage banking firm (think Walker Dunlop, JLL, etc). I have a family member who’s a developer and asked me if he can get a loan through my company. Question is, if I’m not officially an originator, will I still get compensated in some way for bringing in new business?
Thanks in advance!
If there’s an originator you have a rapport with definitely mention it and see what they are willing to offer you. It will probably have to be under the table because many of these firms do not allow salaried administrative staff to accept commissions or fees.
They may suggest 10-20% depending on how much they value the relationship with you and your uncle. Again, you’re going to have to trust their word and assume they will honor it.
Separately, I’d shamelessly be open to doing the financing and will provide you with a fee sharing agreement in writing up front. PM me if you have any more questions. I’ve paid a lot of referrals ($100k+) to say the least.
Isn't paying a referral to a non-licensed person not allowed?
I run my own shop. I can pay her for “consulting services”.
I guess my first question is: do you have a license? You technically can’t accept commissions, and your company can’t pay you said commission, unless you are licensed.
You're a receptionist? I thought you were an underwriting analyst not long ago...
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