How to Make Referrals a Profit Center

Prime real estate selling season is here.  This is also the time when active agents get busy; some agents dust off their real estate license to get back in the real estate business; and still other agents start re-considering if they should get active again.

All this makes it a great time to turn referrals into a profit center for your brokerage; by adding agents and getting new deals.

Referral Agent Plus Program

Setup a department or program within your brokerage that allow less active agents to store their license with your real estate brokerage.

As for a name for your department or program, you can call it “Referral Agent Plus”.  This specifies that the agent is acting as a referring agent; plus the agent will receive commission and other benefits from your brokerage.

Agents joining this program pay a small program fee and receives, for example, a 25% referral commission on any lead, that goes to a closing.  The fee can cover other items like E & O Insurance.

Charging a small nominal program fee acts as a qualifier to getting the right agents, who do not want to do the full client real estate servicing; but would like to stay in the loop for a potential commission.  This way as they go about their lives, should they run across a person looking to buy or sell, they will already have a brokerage and referral system in place.

Why Setup a Referral Agent Plus Program

You can attract more real estate agents to your brokerage and earn commission on referrals.  Plus the indirect value is that you can also increase your database of leads; which could spur more referrals and potential repeat business.