Double your business fast with lead referrals. 25% real estate leads can help your build your business fast.
Today, many, companies provide real estate referrals.
Some of them connect you with other agents. Others drum up the business themselves through million-dollar marketing campaigns.
Most of these companies provide leads for free, but there’s a catch–they charge a referral fee upon closing.
Referral fees traditionally range from 25% to 35%. But it’s money in your pocket that wouldn’t be there otherwise.
How to find 25% real estate leads
Referral costs keep going up. Right now, 25% real estate leads are pretty rare. Most services are charging more. Still, there are a few that either charge fairly low rates or flat rates.
Look for leads that don’t cost money. Find out whether your broker has contracts with some lead companies; they may have negotiated a better cut. When in doubt, talk to your colleagues.
If your real estate business isn’t already booked up, these real estate referral sources are a great way to build your business.
AgentHarvest provides direct referrals for 25% commission. There are also residential lease referrals offered through the platform at substantially less: 15%. The referral fee is due at closing, and there are no upfront fees.
There’s one thing that makes AgentHarvest uniquely great for real estate agents trying to build their local businesses. There can only ever be three agents used by AgentHarvest in a given geographic area. However, all leads are sent to all agents in the area simultaneously. Real estate agents will compete with other agents–whether you secure real estate leads will depend on your response time.
Once AgentHarvest accepts real estate agents into the program, their performance is monitored. A real estate business is graded on its response times, sales performance, and feedback. The better you perform on the platform (and the more real estate sales you close), the more leads will be funneled to you.
To apply, you will need to show proof of expertise within the real estate business, be a full-service real estate agent, work in the real estate industry as your primary occupation, and agree to always respond within a timely fashion to the referrals given.
AgentPronto provides pre-screened referrals via email or text message, with information available such as their name, budget, and city. Like other similar products, it doesn’t thoroughly screen each referral. It simply forwards them along. The commission fee can be anywhere from 25% to 35%.
To participate on the AgentPronto platform, you must be of legal age, hold a valid real estate license, and have insurance coverage for your region and area of expertise. But AgentPronto doesn’t have very strict requirements; you need to abide by their rules regarding how you interact with referrals.
This service pre-screens and matches agents but only matches a single agent at a time. They operate based in specific cities, with over 200 cities covered. The cost of the referral is a 25% referral fee; 25% real estate leads.
Of these services, Agent FixUp has some of the lowest qualifications. It only asks how many transactions you’ve closed within a year. However, they will track your performance on the platform, and you may be “demoted” if you don’t close enough transactions.
When you close with Clever, you can either pay a $3,000 listing fee or 1%. That being said, Clever also reduces the commission you can make through their platform, so there are trade-offs to the referral program. Clever costs nothing to sign up for, however, so there’s little reason not to sign up for their service.
Clever requires that their agents have solid reviews, more than five years of experience, and a history of above-average negotiations. But they aren’t 25% real estate leads because the commission is lower.
HomeLight uses a complex algorithm to match agents with the leads that they’re most likely to close. The better you do with HomeLight, the more leads it will connect with you. It’s one of the most affordable 25% real estate leads referrals, charging 25% of half the gross commission or 12.5% of the total commission.
To be a part of HomeLight, you sign their referral agreement. Then, they assess your transaction history; they want to see your quantity and how much you’re selling.
ReferralCloud doesn’t charge for signing up, but it does charge a 30% referral fee once the transaction closes. This is a national referral coordination service, so agents who have referrals can sell referrals to other agents.
25% goes to the referring real estate agent, while 5% goes to ReferralCloud. And a real estate agent can play both sides, both referring leads and accepting them.
Rather than procuring their own referrals, they just shuffle them on. So, they don’t have stringent requirements for signing up, but the quality of their leads can vary. If you already have a successful real estate business, ReferralCloud can be a way to sell some of your leads.
Zillow Premiere Agents can take advantage of ZillowFlex, a program that sends real estate agents qualified leads. Also, Zillow has a very effective network to generate leads, even if its real estate leads aren’t always well-qualified.
Zillow will track your performance and start directing leads based on that performance. They don’t go through substantial steps to qualify the buyer, they ask a few qualifying questions, such as when they’ll be ready to buy.
But note that Zillow is very competitive. It may not matter for successful real estate agents, but many real estate professionals will find themselves competing for fairly low-motivation clients.
RedFin’s referral network is really more of a matchmaking system. RedFin lets you post your information on their page, and interested buyers and sellers can view your profile. Some brokers may already have partnerships with the platform.
Real estate professionals must have an active real estate license (in good standing), a “fair” number of transactions, and proven excellence. Over time, you’ll receive reviews and ratings on the RedFin platform, which will boost your reputation.
For those who are new to real estate sales, RedFin provides the opportunity to start building your brand and getting exposure. You shouldn’t rely on it as one of your major real estate marketing strategies, but it doesn’t hurt to use the platform to generate leads.
Realtor.com‘s ReadyConnect Concierge
In ReadyConnect concierge, Realtor.com will pre-qualify leads and connect them to you with critical information such as their location and price point. That being said, there’s not a lot of information available regarding Realtor.com‘s fee structure. Instead, it appears to be negotiated based on the brokerage. So, it could be better than 25% real estate leads, depending on the power of your broker.
UpNest provides pre-screened leads, both buyers and sellers. Agents will be charged 30% at the end of a successful transaction. UpNext is one of the most popular real estate referral sources available.
Agents with UpNest must have at least three years of real estate experience, six transactions within the last year, and knowledge of online marketing. If you have full-time experience selling real estate or in real estate buying, you should be able to meet these qualifications.
Rocket Homes invites agents in all 50 states to join their partnership network. They connect pre-approved buyers with agents, which is valuable. These buyers have already gone through the process of becoming pre-approved with Rocket Mortgage. However, it’s unclear exactly how much Rocket Homes charges as a referral fee. There is no referral fee for clients referred to Rocket Mortgage.
Agents with RocketHomes must
- work for an eligible brokerage,
- have at least two years of experience as a full-time agent,
- have eight closed transactions in the last year,
If you specialize in senior housing, consider 55 Places. 55 Places has a Partner Agent program that’s entirely referral-based, with no upfront or monthly costs. You don’t pay per lead and you have access to qualified referrals for individuals looking for their retirement homes
It’s required that you be an agent in good standing. You need to know the communities that you’re interested in representing very well and you should be able to connect and communicate with the senior community. You will also be expected to respond quickly to any leads sent to you.
OJO (Up to 35%)
OJO’s Select Agent program is another no upfront cost program that introduces agents to potential clients. The OJO Concierge Team vets these clients, so you know that the clients that are coming to you are committed. Referral fees will never be more than 35%, but may vary depending on the market. OJO also accepts teams as well as individuals.
OJO differentiates itself from other lead generation platforms by using AI technology to connect agents and clients. Further, OJO actually goes out of its way to source leads, rather than just collecting them such as Zillow or RedFin.
To join OJO, you need to have at least 3 years of experience within the real estate industry. Furthermore, OJO is a little more demanding than other platforms; you need a minimum of 25 transactions within the last 12 months.
Should you work with multiple referral sources?
Successful real estate agents know that they should always be generating new real estate leads. Whether you generate leads from 2 sites or 40 sites, the important thing is that you’re always generating enough.
Referral sources don’t have exclusivity. If you want to develop your real estate marketing strategies, you should use multiple sources of real estate leads. As long as you’re not paying upfront to generate real estate leads, there’s nothing lost.
Now, there’s one caveat. If you can’t keep up with the contacts and the real estate sales coming in, you may need to ease back on your real estate lead generation. Only sign up for as many real estate referrals sites as you can reliably manage. If you start to falter on a site, they may demote your account or close it altogether.
Alternatives to 25% lead referral sources
You can always get leads on your own. The most significant alternative is simply to ask around. Word-of-mouth referrals frequently cost you nothing.
Other sources of real estate referral include:
- Social media platforms such as LinkedIn, Facebook, and Twitter
- Networking with other agents in the area
- Cold calling
- Hosting open houses
- Creating your own website or blog to draw customers
- Advertising on search engines like Google.
There are certainly other lead referral sources out there, but 25% lead referral sources have an interest in your success. They can sink a significant amount of money into marketing to generate leads that go directly to you.
Finding the right 25% real estate lead source
How can you tell whether a real estate lead source is legit or a scam?
There are many reputable sources with reasonable fees and quality leads. But there are also a lot of scams.
- Check the Better Business Bureau. The BBB rating will tell you whether significant complaints have been levied against the organization.
- Avoid paying a hefty upfront fee. If you don’t get a lead (and don’t close a transaction), then you’ve lost nothing but some t ime.
- Look at third-party online reviews. Other real estate agents often know best what the experience will be.
- Take a look at client reviews. If your buyers and sellers aren’t enjoying the process, they won’t stay long.
- Be clear about the fees. There could be additional fees hidden in the verbiage; always read your contracts carefully!
Ultimately, you want to go where the clients are going. If you know a lot of buyers and sellers are using a specific platform, then that’s probably where you want to be.
Conclusion: Is it time to double your business?
Working with lead referral sites lets you claim money that you wouldn’t have otherwise acquired.
But you still need to be cautious when choosing the referral sites you work with and the leads you want.
Try to develop relationships with a handful of referral sites. As you close deals for them (and maintain high customer satisfaction ratings), you start to get more leads from them.
Real estate agents can get referrals by networking, signing up for lead generation sites, and otherwise working with their brokerage. Referrals are great because they’re generally qualified and interested buyers/sellers, but you do need to pay a considerable fee.
It’s almost always worth it to pay a percentage of your commission for a lead, if you aren’t too busy to take the lead on. But it’s rarely worth it to pay for leads upfront; most pay-for-lead services aren’t effective.
It’s becoming more competitive and the market is uncertain, but that just means you need to be a little better than the competition. Concentrate on networking, marketing, and building your personal brand, so the leads come directly to you.
Would You Like To Partner With Me?
I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country increase their sales, online presence, and create scalable systems. I would love the opportunity to work with you. Together, we can make this year your best yet!