it is Marketing and Branding Month Here in Inman. As we enter the competitive spring selling season, let’s take a look at some of the proven strategies and cutting-edge innovations that are closing deals in today’s market.We will also recognize industry marketing and brand leaders through Inman Marketing All-Star Award.
As the number of deals slows down, many agents are looking for ways to generate leads while staying on budget. If this is you, then the solution might be a company that provides free leads.
The process begins with these companies capturing leads, nurturing them to the point where they are ready to start working with agents, and then referring the leads to agents in their network. In exchange for a lead, the company doesn’t charge any upfront fees, but they do receive a referral fee at the end of the deal. Referral fees range from 25% to 40%, but with no upfront costs, many agents find these lead sources extremely attractive.
The key to success for these referral-based companies is communication and conversion. They need consistent communication with referred prospects about the progress of the process. They also want to see these leads convert into sales because the only way they make money is by successfully closing the sale. The better your communication, the higher your conversion rate and the better the quality and quantity of leads you receive.
Each of these companies has their own areas of expertise and specific qualifications to qualify for their programs. The key is to match your talents, experience, and expertise with the clients these companies will refer you to. If your expertise aligns with their prospects, they could be a major source in leading your business to higher levels of success.
rocket home
Rocket Homes is a subsidiary of Rocket Mortgage, the largest mortgage lender in the United States. The leads they recommend are mortgage approved, have a verified buying time frame, and are recommended exclusively to you.
The requirements to join their network are that you must have at least 24 months of full-time agent experience and have completed at least 8 transactions in the past 12 months. Additionally, you must complete their proven partner agent training program.
If you want to increase your buyer leads, Rocket Homes is a great place to start.
Redfin Partner Agent
Redfin has a program called Redfin Partner Agent, where you can retain a license with an existing brokerage and they will send you buyer and seller leads. Just like the other programs mentioned in this article, they receive a referral fee at the end and there are no upfront fees for these leads. The referral fees paid vary by state, but at the time of this writing Florida’s referral fees range from 33% to 40%, depending on the sales price.
Requirements for their program include having a valid license in good standing with your local MLS. They also point out that, based on their customer surveys, you should have “your fair share” of closed deals, and that these deals have proven to be excellent. The Redfin website states that they have more than 85,000 customers buying and selling through its partner agents.
55places.com Partner Agency Program
55places.com is a website that provides detailed information on more than 55 communities across the country. They work with agents approved specifically for their projects, each specializing in a specific community. This program seeks agents with extensive knowledge of community HOAs, floor plans and amenities.
They need to respond quickly to new sales leads and maintain consistent communication with the company throughout the buying process. If you specialize in active adult living communities, 55places.com may be the primary source you’ve been looking for.
veterans united real estate
Veterans United Real Estate, Inc. is a subsidiary of Veterans United Home Loan Corporation. They specialize in referring veterans and military families to agents who have experience with the Department of Veterans Affairs and are willing to go above and beyond in customer service.
Veterans United Real Estate also does generate listing referral opportunities due to active duty military relocations. If you are an agent with expertise in servicing experienced clients, this can be a fruitful source of leads for you and your business.
Realtor.com’s ReadyConnect Concierge Program
ReadyConnect Concierge, a Realtor.com program, connects leads as soon as they are generated online. They screen potential customers for their purchase intentions, price points, locations and timelines. Once a prospect is screened, a message is pushed out via text message or their app to a group of agents in their program. The first agent to respond will immediately contact the prospect with a live phone introduction.
ReadyConnect Concierge must be initiated at the broker level, but once a broker sets up the program, agents of all skill levels can receive leads. They reward agents who respond quickly and provide consistent communication.
home light
HomeLight is a website that connects potential buyers and sellers with professional, highly qualified agents in their referral network. The process begins by building a HomeLight profile outlining your career achievements. HomeLight then uses its algorithms to match prospects with agents based on historical information about past transactions, geographic expertise, price points of past transactions, and other transaction-related metrics.
The referral fee paid to HomeLight is 33%but with no upfront cost, the ability to generate buyer and seller leads through HomeLight makes sense for many agents.
Go to the nest
UpNest is a website that provides a process for homeowners to receive 2-5 listing proposals within 24 hours of submitting a request for proposals. Once you are accepted into the UpNest program, you will receive a request to list proposals along with other agencies.
Your listing proposal will include your commission rate, the services you offer, and your customer reviews. Potential customers can also access your video greeting, which is highly recommended.
UpNest charges a 30% referral fee at closing, which applies to any and all sales or purchases made by a prospect within 24 months of submitting the original proposal.
Depending on your area and your listing expertise, UpNest may be a reliable source of seller leads ready to list.
In a market where agents must avoid fees, leads that only generate fees if money comes in make sense. If you’re looking to increase your leads and minimize upfront costs, these companies can provide a path to profitability.
