How to Run a Real Estate Referral Team
A real estate referral team is a group of people dedicated to helping you further your real estate selling business. It can include family, friends, associates or business partners. While these referrers aren't your employees, they do help you identify lead opportunities on an ongoing basis. Ensure that you give your team everything that they need to succeed -- make it as simple as possible for them to refer your services.
Other People Are Reading
Instructions
-
-
1
Give your referral teams your business cards, brochures and advertisements for your agency. When they meet someone looking to buy or sell in the near future they should have all the necessary information about your agency on hand.
-
2
Coach your referral team on how to talk to potential clients. Provide them with a spiel, or sales pitch, to follow, as well as a list of do's and don'ts when discussing your real estate agency and services. Inform them that when people ask complex questions about the selling or buying process, the standard answer should ideally be "just give him a call."
-
-
3
Send regular emails with updates regarding your agency to referrers. For instance, if you recently won an award for customer service or for the most home sales in the region these are helpful selling points for your team to use to generate referrals. Some individuals may be wary of referring their friends if they're unsure of your reputation, so inform them of your proficiency as an agent.
-
4
Meet with your referral team at least once per month in person or via instant messaging to field questions and provide additional updates.
-
5
Pay your referral agents promptly per your agreements. When you reach a certain level of payments per year you may have to begin treating the referrer as an official independent contractor for your agency and request his tax identification number. Consult with a tax professional or attorney regarding payment issues in advance.
-
1
Tips & Warnings
Sign up with real estate referral networks -- sometimes offered by your real estate agency's parent company -- as a way to add to your referral team.
