What does Mike's Quarter pay for an agent referral?

Referral fees are paid at closing on every accepted deal. The standard fee is 2.0–2.5% of the acquisition price for cooperating agents, with a written referral agreement signed before submission. Fee tiers and dual-agency terms are spelled out in the downloadable referral agreement PDF on this page.

How fast can Mike's Quarter close on an agent-submitted listing?

Average days-to-close on agent-submitted deals in 2024 was 14 calendar days. Mike underwrites every submission personally and returns a same-day yes/no with proof of funds within 24 hours of receiving the deal sheet.

What property types and price ranges does Mike's Quarter buy from agents?

Mike's Quarter acquires 1–4 unit residential and small multifamily properties between $45,000 and $425,000 across Iowa, Illinois, Minnesota, and Wisconsin. Preferred conditions are value-add light-rehab to full-gut; occupied rentals with stable tenants are also purchased.

Can an agent represent both the seller and Mike's Quarter on the same deal?

Yes, dual agency is permitted in Iowa, Illinois, Minnesota, and Wisconsin with proper written disclosure and informed consent from both parties. Mike's preferred model is designated agency with separate agents representing each side when possible.

Vol. VIII — Cedar Rapids, Iowa Agent desk · Filed 2025

For licensed real estate agents

Send me your tired listings, expireds, and off-market 1–4 unit opportunities. I'll close in 14 days, cash or financed.

I'm Mike Halverson, the buyer on the other side of the closing table. One principal. One checkbook. One crew that renovates what I buy, so I don't flip for a wholesale number — I hold. That's why I pay referral fees on closings most investors can't.

Submit a Deal See Referral Terms

— Mike Halverson, founder, Mike's Quarter Real Estate, LLC

Signed purchase agreement at a Cedar Rapids closing table — Closing #312 · Cedar Rapids, IA · 14 days from contract to keys

Filed under: Acquisitions, last 90 days

Six closings. Same desk. Same principal.

Every property below is a deal we closed through an agent referral in the last quarter. If you've got a listing that's about to expire, a pocket deal your seller hasn't told their neighbor about, or a tired duplex the MLS won't move — bring it here. We underwrite and respond same day.

812 4th Avenue SE

Cedar Rapids, IA · 2-unit

Closed: $184,500
Days to close: 13
Channel: MLS, expired relist

1419 Mulberry Street

Rockford, IL · 4-unit

Closed: $312,000
Days to close: 11
Channel: Pocket listing

226 West 11th Street

Dubuque, IA · SFR

Closed: $146,750
Days to close: 9
Channel: Off-market, agent referral

318 East Washington Ave

Madison, WI · 2-unit

Closed: $229,000
Days to close: 16
Channel: MLS, 142 DOM expired

312 acquisitions and $47.2M in cumulative transaction volume since 2017 — every file cross-referenced on the investor brief.

Sample deal sheet showing agent referral payout line

25% of net acquisition margin, paid at closing

Filed under: Referral terms, agent side

What you earn. What we close. What we don't touch.

Referrals are paid at closing from our net acquisition margin — not the gross purchase price — so the math is honest and the check clears the same day as the title company wires. No rebate games, no post-close clawbacks, no fine print about "if the deal survives seasoning."

Referral fee

25% of net acquisition margin, paid at closing. Capped at 1.5% of purchase price so the math never moves the seller out of contract.
Payment timing

Same-day ACH or check at closing, drawn on Mike's Quarter Real Estate, LLC. No 30-day net. No wait-and-see.
Dual agency

We never represent ourselves as the seller's agent and never ask your seller to sign a dual-agency disclosure. You're the agent of record on every referral file.
What we'll accept

1–4 unit residential income property in Iowa, Illinois, Minnesota, or Wisconsin. As-is, occupied, vacant, or turnkey. We underwrite same day and respond within four business hours.

Full terms are spelled out in the referral agreement, mailed or emailed the moment we open a file on your deal. No NDA required to send a property.

What you can verify before you pick up the phone

14days Average contract-to-close, 2024 cohort
$47.2M Acquired across 312 deals since 2017
312 Acquisitions closed through the same desk
IA / IL / MN / WI Four-state Midwest operating footprint

Deal desk intake

Submit a deal. Same-day response, no NDA.

Send the address, the ask, the condition, and your contact. We'll underwrite the numbers today and call you back with a yes, no, or counter by end of business. If we can't make the math work, you'll hear that too — with a one-line reason.

Property address & asking price
Unit mix, occupancy, and known condition issues
Agent contact and brokerage
Photos, disclosures, or a quick walk-through video

Or reach the deal desk direct: [email protected] · +1 (319) 555-0142

Send me your tired listings, expireds, and off-market 1–4 unit opportunities. I'll close in 14 days, cash or financed.

Six closings. Same desk. Same principal.

812 4th Avenue SE

1419 Mulberry Street

226 West 11th Street

318 East Washington Ave

What you earn. What we close. What we don't touch.

Referral fee

Payment timing

Dual agency

What we'll accept

Submit a deal. Same-day response, no NDA.