Been a while since I've been on the forums...since then I still have my L&H, but picked up a NYS Real Estate License and NY/NJ/PA P&C licenses.
So I'm growing a P&C agency while doing rental real estate here in NYC, and since I meet management companies, I'm contemplating a referral strategy that I wonder if anyone has experience with.
Is it allowed, in order to get more business for my agency, for me in my capacity as a P&C agent to give gifts to people in the mortgage industry and real estate industry to encourage referring people to my agency to buy HO-3, HO-4, HO-5 and HO-6?
I know that I can mention it to my real estate clients as advisory - "It's NYC, you might want to get renter's insurance since the landlord's policy won't help you get your stuff back if someone breaks in or the building catches fire" and mention my site, but while RESPA has rules on referrals between real estate agents and the mortgage industry, do you know if those RESPA referrals apply to P&C (and L&H) agents and the mortgage industry?
So I'm growing a P&C agency while doing rental real estate here in NYC, and since I meet management companies, I'm contemplating a referral strategy that I wonder if anyone has experience with.
Is it allowed, in order to get more business for my agency, for me in my capacity as a P&C agent to give gifts to people in the mortgage industry and real estate industry to encourage referring people to my agency to buy HO-3, HO-4, HO-5 and HO-6?
I know that I can mention it to my real estate clients as advisory - "It's NYC, you might want to get renter's insurance since the landlord's policy won't help you get your stuff back if someone breaks in or the building catches fire" and mention my site, but while RESPA has rules on referrals between real estate agents and the mortgage industry, do you know if those RESPA referrals apply to P&C (and L&H) agents and the mortgage industry?
