Americans Voice Concerns Over Financial Incentives
A new national survey conducted by IPX1031 reveals strong public concern about undisclosed financial incentives in professional referrals. The study, based on a September 2025 survey of 1,002 U.S. adults, shows that most Americans view referral fees, kickbacks, and revenue-sharing arrangements with skepticism or outright disapproval.
Most Americans Believe Referral Fees Undermine Trust
Two-thirds (65%) of respondents said they believe these practices are either unethical or questionable, with 24% describing them as outright unethical and 41% calling them questionable practices that could harm clients. Only 16% see such payments as a normal part of doing business.
Transparency Matters: Americans Want Disclosure of Professional Referral Fees, Kickbacks
Americans also expressed concern about how these arrangements affect the advice they receive. Nine in ten (90%) would be concerned if they learned a professional such as a broker, CPA, or attorney was financially incentivized to recommend a specific service provider. Nearly half (42%) said they would be extremely concerned by this, with another 48% reporting they would be somewhat concerned.
Transparency emerged as a critical factor. A majority (58%) of Americans said they would be very concerned if referral fees, kickbacks, or revenue-sharing agreements were not disclosed to them. The survey also found that companies providing clear educational resources on regulatory and compliance risks are overwhelmingly trusted: 90% of respondents said they are more likely to view such companies as reliable partners.
If you own investment real estate or are planning a 1031 Exchange, it’s critical to understand that Qualified Intermediary (QI) regulatory tax code compliance is mandatory to preserve the tax benefits of your exchange. Learn more about potential QI risks and regulatory compliance requirements on our QI Risk page.
As the nation’s largest 1031 Exchange company, Investment Property Exchange Services, Inc. (IPX1031) has the expertise, security, and compliance standards you need to safeguard your exchange. Contact us today to start your 1031 Exchange.
Methodology
In September 2025, we conducted a survey of 1,002 people from across the U.S. about their experiences with fraud. Among respondents, 49% identified as female and 49% as male with an average age of 44.
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Fair Use
When using this data and research, please attribute by linking to this study and citing IPX1031.
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