Skip to content
BOL Conferences
Thread Options
#2117924 - 02/12/17 10:18 PM Realtor Days - promoted by branch
JG Offline
New Poster
Joined: Dec 2015
Posts: 11
I am interested in your thoughts on hosting a "Realtor Days" at a bank branch and if you consider it a RESPA risk?

Our LO would like to host a "Realtor Days" in the branch which includes inviting a local realtor or realtors (I believe limited number) into the branch to educate or consult with customers and potentially non-customers about the current market. There is a promotional flyer which I believe we would need to consider fair share between the agents and bank. However, if we are not charging the realtor for the space do you feel it could potentially be violating RESPA?

If you think it is potentially a violation, if we allowed any interested realtor to participate does that change anything? Meaning bank sponsors total event and opens to all realtors and public.

I have seen other banks promote these events but not exactly sure how they are set up.

Thanks,
JG

Return to Top
RESPA
#2118080 - 02/13/17 09:55 PM Re: Realtor Days - promoted by branch JG
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Limiting it to 1 or a few realtors is the key that will trip RESPA Section 8 issues. Sounds like you are providing a benefit (realtors get to meet with customers). You need to open this up to all interested realtors or risk Section 8 issues.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#2118473 - 02/16/17 03:50 PM Re: Realtor Days - promoted by branch JG
JG Offline
New Poster
Joined: Dec 2015
Posts: 11
Thank you David.

Return to Top

Moderator:  QCL