• Keep auditable records of your co-marketing agreements that outline who ordered the materials, who paid for them and who created them.
  • The CFPB will assume a referral arrangement exists unless you can prove otherwise. Be very careful with referrals and leads, and never use "preferred provider" language in your marketing materials.
  • Be able to articulate the value of the co-marketing arrangement using metrics.

DENVER — Co-marketing agreements can help agents, brokers, and teams reach a larger audience of prospective buyers. But when forming such an agreement with a settlement service, it’s not enough for the parties involved to know what’s in RESPA (the Real Estate Settlement Procedures Act), a 44-year-old law designed to keep settlement services honest for consumers.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top