How to Do Referrals for Real Estate Investors
Real estate investors often rely on referrals, sometimes called leads, to find new investment opportunities. To best serve the investor, understand how to do referrals. For real estate investors, this often includes identifying the type of property under consideration. It can also include contact information and property value. The way you structure your referral form may depend on the information the investor wants to use to screen potential investments.
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Instructions
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Determine the purpose for collecting leads for real estate investors. If you work for an investor, you may get a commission from leads that earn the investor money. If you want to make money from clients looking to sell property, you may want to develop a network of investors and offer to connect sellers to buyers for a fee. You can also consider selling the leads to investors.
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Develop the form you want to use to organize the data on the real estate lead. You want to provide the investor with the necessary information in a concise format. Standard leads include the referral's name, address, phone number, the location of the property, the value of the property, whether the person wants to buy or sell, whether a Realtor is already attached to the property, and any other helpful information like the specifications for the property.
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Consider joining a leads group to collect local referrals. Leads groups usually provide a meeting place for members to meet and to exchange referral slips. Most groups limit the number of individuals who can attend from a certain industry, which means you may be the only person looking for real estate investing leads within the group.
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Collect referrals through online sources. Your options include blogging, hosting a website or using other networking sites to search for leads. The method that will work best for you will depend on the amount of time you want to dedicate to the referral business and your experience with online media.
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Find investors in need of referrals. Once you collect the information you need, start developing a list of real estate investors looking for leads. Many investors advertise through ad campaigns indicating they want properties in all conditions.
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Build relationships as you go. If real estate investors make money off your referrals, expect them to be willing to work with you again in the future. Likewise, if people know you work with an investor, they may come to you when they want to sell a property.
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Tips & Warnings
Some real estate investors may want you to include photos of prospective properties.
