Referral Networks: How Valuable Are They to Your Business?

Posted on Sep 13 2019 - 5:32pm by Beth McGuire

The inscription REFERRALS on the gear of the clock mechanism, 3d illustration

As any real estate professional will attest, their referral network is an integral aspect of their business. But how does it stack up against other sources of business, like lead buys, word of mouth or other marketing agreements? What is the average number of agreements in place and how many are being exchanged annually? We wanted to take a deeper dive into these and other questions about broker-to-broker referral agreements and the weight they hold in your business now and into the future, as markets shift or evolve. Please take a few minutes to fill out our brief survey and we’ll report back in the coming weeks!

Create your own user feedback survey

Click here to take the survey in a new browser.

3 Comments so far. Feel free to join this conversation.

  1. Chris McElroy September 28, 2019 at 9:39 am -

    This business is about relationships and keeping in touch

  2. Colleen Shriver, REALTOR September 28, 2019 at 9:44 am -

    My business runs on 75% repeat & personal referrals

  3. Gunilla M Edwards September 28, 2019 at 4:05 pm -

    I’ve found being 40 yrs in the business and having owned a mortgage company (brokerage) that most of the banks and many of the big lenders have mostly new people working for them as loan associates who really are not experienced enough and make too many mistakes when qualifying people. Therefore I stick to a lender I really know has lots of experience and is able to close difficult loans. Our lending industry today is too complex to rely on new people, which is what you find at banks. They are really just training. Then usually after years of experience go on to mortgage companies where they have better training than banks offer. Also are able to make more money.