Finders Fees are Bringing in Buyers

Some home sellers are offering finder’s fees to encourage people to connect them with willing buyers.

A finder doesn’t have to be a real estate pro. It could be a co-worker, a friend, or an acquaintance.

"A finder can become entitled to a fee by using his unique connections to introduce two parties that ultimately reach an agreement on their own, without any further input from the finder," says Jonathan Cooper, a New York-based attorney who has been involved with some of these transactions.

Cooper said anyone offering a finder’s fee should put the details in writing, so it’s clear under what circumstances the fee will be paid.

Source: The Wall Street Journal