Leverage Connections by Making Referrals

A referral happens when you connect an agent in another market with someone you know so they can buy or sell property in that market. When you send a referral to another agent, and they close a deal, you can expect to be paid a percentage of that commission, usually between 25% and 45%. If you receive a referral, the same rules apply, and you’ll pay a percentage to the referring agent. You can make connections on your own or use a referral service.

For example, you use a referral service like Fast Expert, which connects active leads with real estate agents. Fast Expert allows you to choose buyer or seller leads and filter the leads by ZIP code. Agents only pay if the lead results in a successful closing, and a 25% referral fee is only applied in these cases. According to the company, there is no setup fee, monthly fee, or startup costs.

Agent-to-agent referrals provide an excellent source for relatively passive income. The more referrals you send to other agents, the more likely you are to get referral checks when people close deals.

https://fitsmallbusiness.com/real-estate-lead-generation/