Referrals.io provides you multiple options to send and receive referrals with your partner agents. As a sending agent, you are in full control of the referral process.
Choose an option that fits best for your referral.
3 ways of exchanging referrals with partner agents.
1) Private Referral – Send to One Selected Receiver Agent
Private 1-to-1 referral option is best when you have decided who will be the single receiving agent. Later in the process, you will still have an option to add additional receiving agents to check their interest.
Client contact information is never shared until both parties sign a broker referral agreement.
Private referral process allows to send the outbound referral to your selected preferred agent in the desired target area. Only the selected receiver agent gets the private referral as a new inbound referral.
2) Network Referral – Send to Your Pre-approved Network Group
With network referral option, referral is sent as a private referral, but it will be broadcasted to more than 1 agent from your pre-approved, private network group connections.
System selects the agents those are closer to the client’s desired location for alerting.
Lead conversions is all about timing and timely responses. Broadcast option gives a better chance with multiple agents expressing the interest in the referral, and lets the sender agent pick the final receiving agent from the list of interested agents.
Network referral provides the benefit of sending referral only to selected agents and also increases the chance of success with one of the receiving agents accepting and connecting with the client quickly.
3) Open Referral – Broadcast to Multiple Referral Agents
Open referral broadcast option is best to increase your brand exposure and also increase your partner referral network.
Broadcasting referral to all agents in the target area provides many benefits. Gives maximum exposure to the referral offer and triggers responses from multiple interested referral agents. Sender will have the option to review those expressed interest and award the referral to one final receiving agent.
This option increases exposure to your brand. As it sends notifications to targeted agents, they learn about your brand and would like to connect as partner agent. Broadcasted referrals show up in open referral searches, can be shared in social groups and other channels with special sharable link url.
One of the keys for successful referral is communication. Sending or receiving real estate referral goes through below statuses from creating to closing it.
- Draft: Created but not yet shared with any agent.
- New: Sent to receiving agents
- Accepted: Receiving agents expressed interest. Sender agent not yet selected final receiving agent.
- Pending: Sending agent confirmed the final receiving agent.
- Awarded: Referral agreement is signed between sender, receiver and client contact information is shared.
- Working with Client: Receiving agent contacted and started working with the client.
- In Escrow: Receiving agent notified sender that they are in escrow process.
- Fee Sent: Receiving agent notified that referral fee is sent.
- Fee Received: Sender agent confirmed the fee is received.
- Closed: Referral is complete and marked closed.
- Lost: Referral is marked as lost by receiver or sender.
- Archived: Referral is not active anymore for tracking. Marked for archiving.
Real Estate Referrals
Real estate referrals, no upfront cost leads, is a latest win-win business trend now for both sending and receiving brokers. With our technology assistance, you can maximize the referral value and grow a nationwide real estate referrals business.
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