Thread: Long & Foster Prestige Partners?

Was marketing to a long & Foster office today and the agent covering the front desk said she couldn’t talk to me unless I was an L&F Prestige Partner…aka (L&F Home service connections). Is anyone a member of this and is it worth filling out the paperwork?

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Originally Posted by Terry Ewald

Was marketing to a long & Foster office today and the agent covering the front desk said she couldn’t talk to me unless I was an L&F Prestige Partner…aka (L&F Home service connections). Is anyone a member of this and is it worth filling out the paperwork?

Sounds like a shake down racket to me and verboten around here to have to pay to play (although it still goes on.)
They can get around the rule by claiming that you are paying for "advertising" space in their client guide.

With the texas rules as tough as they are there has to be a rule agains this. Restraint of trade?

Federal Respa laws:
Sec. 2607. Prohibition against kickbacks and unearned fees
(a) Business referrals
No person shall give and no person shall accept any fee, kickback,
or thing of value pursuant to any agreement or understanding, oral or
otherwise, that business incident to or a part of a real estate
settlement service involving a federally related mortgage loan shall be
referred to any person.

There is also the requirement of disclosure of any referral fee by state mandate.

For this as well as the universal "smell test" I stay away from it all.

Originally Posted by Terry Ewald

Was marketing to a long & Foster office today and the agent covering the front desk said she couldn’t talk to me unless I was an L&F Prestige Partner…aka (L&F Home service connections). Is anyone a member of this and is it worth filling out the paperwork?

Sounds like a pay to play scam.. Many folks are doing it, Caldwell Banker in some areas, Crye-Leike, ReMax, and I'm sure several others. You pay them a fee to place your advertising material in their office and to have access to their agents. It is up to the individual Broker or owner, some do it and many do not. I would not do it....

All the more reason to not market to realtors. Did they want you to fill out a 1099 too?

yup...W-9 and carry $2 mil in General Liability Ins

Originally Posted by Terry Ewald

yup...W-9 and carry $2 mil in General Liability Ins

Gooood-bye.