How To Recruit Agents Using Referrals

Everybody likes to talk about something; and a lot of people like talking about themselves -their new purchase; stuff at home; and events at work.

Real estate agents are no different. They like to talk about their closings; the houses they have sold; how busy they are with new leads, etc.

Thereby, in our survey “The New Real Estate Agent”, we found that 65% of real estate agents are happy with their broker.

What was surprising is that only 15% of those agents said they have asked other agents to join with their broker.

And the number one reason why most agents do not ask other agents to join their broker? It did not occur to them to do so; they are busy working leads and responding to clients.

Our survey found that by (1) having a referral program as a part of your business model, and (2) offering referral incentives, more agents will recruit others to your brokerage.

Thereby, to Recruit Agents Using Referrals
1. Have a Written Referral Plan.  The key is to keep agents informed about referral commission.

2. Offer Percentage of Broker Commission.  Agents want to know that the broker appreciates them bringing others to the broker’s company, and that the broker is willing to compensate them for their efforts.

3. Provide Video on How to Recruit.  Create videos and talking point to show your agents the different ways to talk with others about joining your brokerage.

4. Thank Your Agents.  Always find ways to thank your agents for their efforts. It can be as simple as a $25 gift card that lets agents shop online, go to a restaurant, or donate to their favorite charity.