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4 Advantages of Implementing a Real Estate Agent Referral Program

4 Advantages of Implementing a Real Estate Agent Referral Program

Becoming a real estate agent is a potential gateway to a life of financial independence. Under the right circumstances, agents can make a substantial amount of money.

Even a small commission percentage on million-dollar homes can be astronomical. This is one of the many reasons why there are over 193,000 real estate agents in the U.S. as of May 2022.

Cold real estate leads can make it difficult to hit your target metrics. The good news is that using a real estate agent referral program in Oregon can take your performance to the next level. Let's explore the key information you should know.

1. Quality Leads

Referral programs are renowned for providing quality leads. The people you interact with are already interested in the services you provide.

Working with cold leads, in comparison, has no guarantee that the people you contact will want anything to do with you. Not only does a warm referral increase sales numbers, but it also reduces mental fatigue. It can be draining to experience numerous rejections when cold calling.

2. Better Client Relationships

By working with people you know you can serve well, you'll improve your relationship with them. This comes with numerous benefits, such as having them recommend you to a friend or family member. They might also work with you in the future when purchasing an additional property.

3. Brand Awareness

Having clients referred to you will substantially increase your brand awareness as an agent. This is true even if they don't immediately call you.

They might take time to make their decision after someone refers you to them. While deliberating, they see one of your advertisements. Since they already know who you are, there's a good chance they'll choose you over other agents they haven't heard about.

4. Client Trust

Trust is one of the most important attributes to prioritize as an agent. If people don't trust you to meet their needs, they'll choose an alternative instead.

A referral conveys that someone they trust also trusts you. However, the source of the referral matters.

It won't mean much to receive a referral from an individual or entity that has zero industry presence. The same can be said about getting one from a disreputable company.

In contrast, choosing a reputable referral partner will go a long way toward building client trust. As your reputation grows, people likely won't think twice before choosing you. Your past results will have spoken for themselves.

Be sure that your performance doesn't waver, though. Referrals never do much good if people don't get the outcome they expect after working with the referred agent.

Use a Real Estate Agent Referral Program ASAP

Under the right circumstances, a real estate agent referral program can substantially improve your performance as an agent. From here, you'll blow past your target numbers and continue to provide excellent service to your clients.

Kerr Properties, Inc. has designed a comprehensive Agent Referral Program to help agents in Oregon leverage warm leads and increase closings. You can focus on sales and let us handle property management for them, allowing you to work with your clients again sooner. Get in touch with us today to learn more about how we can help.