Referral agencies are not a new concept. From cleaning companies to nanny placement, and corporate headhunters to online services like Angie's List, referral parties keep us from having to wade through all of the possible choices for any type of service industry. Asking a trusted relationship or a credible third party resource is just quicker and easier for most of us.
There are many different ways to be successful in real estate. As with any career field, those that find a way to play to their strengths tend to capture the lion's share of the market.
Limited Function Referral Only (LFRO) real estate brokerages are becoming an increasingly popular solution for transitional agents who want to leverage an active real estate license without the actual production requirements and overhead that traditional practice demands.
Individuals who can visualize the BIGGER opportunity of running a "booming referral business" are the ones who can see it from the giving side of the equation... There is an entire business model in becoming a referral powerhouse and focusing on the service of sending referrals instead of receiving them.
PROFESSIONAL FRAMEWORK FOR A REFERRAL SPECIALIST
Lead Generation: By way of networking and sphere of influence, or through individual connections acquired throughout their career, the core of building a successful referral practice is rooted in individual relationships and personalized service. This is the magic that differentiates a professional Referral Agent from the impersonal online lead generation mills that result in low customer satisfaction, weak "lead" hand-offs, and poor conversion rates.
Sales Skills: As with any specialist, fine tuning your art to focus on a specific area of the business doesn't mean abandoning the foundations of the trade. A profitable referral business will still require mastery of the sales process to achieve a successful outcome for your customers (consumers you refer) and your clients (Realtors you refer them to).
Systems: From lead capture to referral tracking, a professional Referral Agent leverages good process and technology-based systems to maximize and manage opportunities.
Support: Send Realty, PLLC is more than a mere "parking lot" for Texas real estate licenses. In addition to providing the systems needed to support a professional referral practice, we also provide focused training and coaching to develop our agents' skills and talents -- so they may maximize commission income and achieve the joy, freedom, and financial success that comes from specialization.