BUSINESS OPPORTUNITY P&c

[agentinsouth]

I don't understand how these agreements keep growing. Coldwell Banker....owns an insurance agency. Regions Bank....owns and insurance agency. Movement mortgage.....owns an insurance agency.

Brokers & Real estate agent are not compensated ( I know people at all the ones listed and can add 10 more). Also, the client is given a form about the affiliation. Lastly, they are owned by the same Parent entity. Vs. a broker wanting to get paid by an outside agency.

 

[wfs]

Most states cap non-licensed "referral fees". The annual cap in Nevada is $10. I think Utah is $5. These referral fees cannot be paid based on the actual outcome of the sale, so if you pay $10 to a non-licensed person only if you close the insurance deal, you are violating the law in most places.

Back in my SF days, I say gross, intentional violations of the law, where SF agents paid $$$$ for referrals from non-licensed auto dealers, apartment leasing agents, etc... All slimy and illegal.

I have never "paid" for a referral, nor have I ever asked for "payment" for a referral. Besides, aren't referrals supposed to be free? You like my service, here is a "thank you" in the form of a referral.