Q&A for How to Make Money Locating Property for a Finder's Fee

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Question

How can I do this without a license to practice real estate?

Community Answer

A licensing board cannot regulate the agreement between two non-licensed individuals.

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Question

Where are some good leads in finding homes for sale by an owner?

Community Answer

Craigslist is a good place to look for listings that have been unsuccessfully sold for many weeks or months.

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Question

Is it a good idea to join an online group that provides videos and support for getting started (for a fee)?

Community Answer

Yes, it is. Joining a community of other property locators can give you a good opportunity to find advice on getting started.

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Question

Do I need a license to do this?

Community Answer

No, but you will likely have to sign a contract when you're agreeing to a fee for your services.

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Question

How much can I expect to get paid on a finder's fee from a real estate agent if I referred the agent to the seller and the agent double popped the transaction of my friend's house?

Community Answer

You can probably expect nothing, depending on where you are. In most places, it is illegal for a real estate agent to split their commission with anyone but a licensed broker or agent.

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Question

What are typical finder fees?

Community Answer

It depends on the money that is inside. You probably will be offered about 20 percent of the value you returned to them. However, you are obligated to return it to them, so they aren't required to give you money.

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