Real Estate Referral Networks – A mystery topic, I love mystery topic, total mystery. So what we’re going to do is use the spinner wheel Omkar. Got his wheel picked out here, you know, and let’s go ahead and spin the wheel, Omkar. And what we’re going to do is whoever it lands on, they have to on the spot come up with a topic. It’s kind of like what happens four minutes before we start the show? We come up with topics.
And so that’s what we have to do here, Shana, to go ahead and spin the wheel. OK, and how do I do? I don’t know. We just click on the spin bike riding, spin the wheel, and I got to come, what with the topic today. So, Shana. And take a deep breath here, ma’am, and we’ll have to come up with your topic.
So on the spot, know that we just discussed how we’re helping buyers out in challenging markets, OK? Right. And we have a lot of people moving all around the country. So let’s kind of think through those. Yeah. All right, Sean has time already, I understand.
Real Estate Referral Networks
Go ahead, take over something I’ve heard the last couple of weeks is we have a lot of people moving in. We have a lot of moving out of the area. So remember, you guys, that it’s a big country and where people go, you may not be licensed. We’ve talked about this many times. You may not be licensed in those areas, but you can refer them. You can even travel with them and get a referral fee.
That’s great, chat in Now, if you know exactly how many Americans are in the country as of today, right. So I need a new population count in the whole country and that’s how many people you can service.
Ok, so I’m going to tell you about one I had yesterday. I referred someone out to New Jersey. And, you know, we all think it’s true that the standard fees aren’t just twenty five percent or whatever you want them to be.
Who came up with that? That, I don’t know, state referral from one agent to another is 25%. I don’t know. I’m out on this.
So we have an athlete moving to New Jersey going to go a baseball player going to play for the Phillies, and he wants to rent a home short term and then purchase a home. Right. And he wants to get an understanding of where he’s going to be and make sure his job he has job security.
But we were able to get I talked to this broker and you guys can utilize me. I have a huge network of brokers all over the country that I can tap into. So I talked to this guy and super nice guy, but we were able to work out a thirty five percent referral for the rental and for the purchase.
And I’m going to put in there anything that he purchases in the future belongs to us. So if you think about it, the relocation networks, we pay us a pretty steep, hefty fee for anything that’s in a in a relocation network. Yes, we do.
Why can’t we do that if somebody is willing to take a client? You know, there’s a lot of brokers out there. And, yes, you want to get the right person, but, you know, don’t just sell yourself short. You can last week went to Salt Lake City with one of her clients. Right. And hooked her up with an agent. You don’t have to be licensed. We did it in Montana just because it was advantageous for us to to do that.
Well, then you can if you’re locally competent as that clause and you’re licensed locally, then you can earn a larger share of it.
Does not matter what area, what state referrals are referrals. You can do that across the country. OK, so yeah. So you can you can do many things. You can travel with them and hook them up and and kind of help them identify a great agent. A lot of people don’t know how to really search for that. So you can help them identify an agent and come along with them. And, you know, and you get the experience of being in another market, which is great.
And Katie, abroad, I believe that Katie has a process for this already that you can enter and put in Zoho and say that you have an out of market referral or out of Acquisto Real Estate referral that you need some assistance with. And then we’ll go through and help that. Yeah. Katy, maybe Cedeno if we actually have that process and just a little bit about how that works.
But I and if we don’t, then we’ll be able to do that. Maybe we can share it relatively soon as well. But we already have the process. Right. And it doesn’t have to necessarily go directly through, Shana. She does have people that will get involved with. Right.
And so what happens is this like we had an athlete, right? So I needed to make sure that this guy was with somebody who dealt with athletes. And in you know, they kind of have different needs and things.
But we’re part of a bunch of different networks. Right. And that’s where the experience comes in. So what we want you to do is put in the system properly. Right? Once it’s in the system, then we’ll have that noted in the file, be closed by somebody else selecting that person in who is the right person. That’s a process and will walk through of how we go ahead and do that. Maybe it’s connections that I have. Maybe it’s connections that you have. Maybe it’s somebody that, you know, maybe one of other agents.
So we can definitely discuss past client who worked with somebody. But there’s no reason that as an individual, you’re not receiving a hefty amount of the commission back when somebody close is anywhere around the country. And you guys, whether it’s a family member, whether it’s a friend, whether it’s a colleague that’s moving, whatever it happens to be, we’re.
It is your professional, your license in Texas, but you have the whole the whole country at your fingertips. And how many times have we seen people move away, our clients move away and then they come back. So if you help them, they’re going to remember that you’re going to stay in touch and then they’re going to remember you when they come back.
Shana, full of great ideas today. That was a very amazing topic. But this is a free country topic. This should be great money to you. I was almost going to say free money and I stopped myself. Mid word, because it’s not for you earned it already. Now what it is, it’s a transaction that doesn’t go through our system. So we as a firm do have a policy that I believe is extremely advantageous for you in this regard. So this would be a point to kind of like be like, wow, focus on this one.
Our policy is that you as the agent, when you put these referrals in where it’s out of network, where it’s not getting close by us, where we have zero liability whatsoever. Right. The file doesn’t go through us. We don’t document it. We don’t do anything. We’re not relying on our licensing. We’re not going to get in trouble. Like there’s nothing that we do. We simply send it out and get paid a commission back. You as the agent receive it does need to be.
No, no. It goes in there. But we’re not we’re not we don’t have to. Contesting the file pretty much.
You get paid one hundred percent. One hundred percent of the money that comes in, so it comes to us as a firm, it has to get paid to us directly as a company, and as soon as we get it, we deposit and it clears. Then we send right back to you one hundred percent. So it’s a nice way for you to get fully paid. Right, so the numbers as large as it could possibly be.
That is a bonus that we have. I don’t know that anywhere else has that same type of policy. We tried to be very progressive on that one for you. And we want people to do it. We want you to be able to supplement your income dramatically all across the country.
And I encourage it because I think it just it you know, even if you don’t visit with your client, just having the conversation and understanding different markets I think just adds value to you as a professional.
And I would challenge you to think about what percentage of the people. Here’s another item you can chat in. And we’re talking a lot today. Well, what percentage of all the people do that, you know, live here and within your defined market for real estate where you buy and sell? Think about all the people you know, OK, OK. And then think about what percentage of those people live in what you define as your real estate service market as an agent that you would personally cover.
So think of everybody, you know, whether you grow up somewhere else and you think about family members, you think about whatever that is. Right. You think about people I went to college with you were that you worked at another job or whatever those are that moved away. When you think about that and think about, like, all your Facebook friends. Right. Like those ones.
And then think about which percentage live here. So, yeah. So what percentage would you say? I mean, I have a lot from Arkansas. Exactly. So what percentage of your people live in your defined market? 50 percent. OK, so 50 percent now it’s got to be more than make sure whatever this number is, maybe it’s seventy five percent, right?
I’m thinking about all the people that have moved away that we’re here. And, you know.
Exactly there’s there’s a lot. Right. So when you think about those numbers, those are people that you can also sell real estate to that you don’t have to physically service. Right. So that’s that should be found money for you, and if you’re looking for some a way to expand your market and you’re looking for a way to build and grow your business, then maybe focus on that one just a little bit.
Because we go through when we say put everybody that you have in in Anzelmo. Right. Right. Put them all in the CRM. We want every single person in there. And then you’re like, well, this person doesn’t live here. Well, OK, if you don’t put them in there, then you don’t stay in contact with them and then you don’t help them when that when it becomes the time.
So I think it’s a real opportunity lost. If you want to grow your business by, I don’t know, 20 percent over last year, then simply do the same kind of business you did and add that in and then you’ll earn 20 percent more if that’s the that’s the methodology. John, Mickey, OK, we’re going to move on. Are we moving on? Yes, we are. Thank you. Katie did confirm that we do have a process in there.
It is in Zoho and it’s all in there. So you put your referral in and it’ll get taken care of. And you don’t have to send Sean a direct email, put it in the system first, log it in so the person’s in there.