Referral Cloud for more Real Estate Referrals
Referral Cloud is a national cloud-based referral coordinator that helps real estate agents get more referrals. It is easy to use and helps get real estate agents more referrals.
This is how it works
Real estate agents create an account at https://www.TryReferralCloud.com and then are placed in line for referrals in their local market. As referrals come in from lead sources and other agents placing referrals, the cloud system checks to see which agent is next in line and assigns that referral to the agent. The agent handles the referral just like a normal referral, complete with a signed referral agreement.
What does it cost?
There are never any upfront fees for referral cloud agents to belong to the network. At closing the agent who receives the referral will pay a 30% referral fee to ReferralCloud.
How to get more referrals?
Real estate agents who use the system to place their referrals to other agents will be placed as a top priority for inbound referrals. They immediately move to the top of the list for any referral in their market ahead of every agent. The premise is that real estate agents who refer business into the network should be rewarded ahead of agents who have only signed up for an account. There is no limit to the number of referrals that can be given out.
How much do I get in referral fee?
ReferralCloud pays out a 25% referral fee to the agent that referred the client.
What is the benefit for me to place referrals through the system?
The way real estate referrals work now is that agents use Facebook or google to find agents in other markets for their referrals. The problem is that there is no way currently for real estate agents to get rewarded for that outbound referral except for the 25% referral fee. It is highly unlikely that the agent referred the client will just happen to have someone in the referring agent’s market. With ReferralCloud, there is a coordinator who tracks all referrals nationwide, and makes sure that the next referral inbound to the referring agent’s market is awarded the next referral.
Without a coordinated referral marketplace, there is no way for agents to get inbound listings for their outbound ones.
What does “clearinghouse” mean?
A Clearinghouse is a method for coordinating fragmented processes that have no other way of reconciling themselves. With ReferralCloud, the clearinghouse uses a complex algorithm back with human touch to make sure that agents who are referring clients through the system are placed in top priority to get inbound leads in their marketplace.
Is this just a lead?
No. This is a client referral, just like any other referral you would get from an agent. Referral Cloud has a number of websites that bring in referral leads, as well as ReferralCloud agents themselves referring clients through the system because they want to get more referral.
What do I have to do to get started?
Just create an account at ReferralCloud.co and you will be added to the list of agents in your market. If you get an outbound referral, its smart to just place it through the network. They will do all the work and you will get regular updates through the system
How does ReferralCloud make money?
Referral Cloud charges a 30% referral fee to the inbound agent and pays a 25% fee to the outbound agent. The 5% difference is kept for coordinating the referral between agents.