Hey, do you want to be a real estate referral agent? Did you know eXp Realty makes it super easy for all eXp agents to earn referral commissions across all 50 states and 24 countries? Even better, eXp has a slick referral tool that lets you send referrals and lock in your commission on closed deals—in just seconds!
I know, crazy, right? You don’t need to spend countless hours of your valued time just to make a referral. eXp Realty, the most agent-centric brokerage on the planet, is constantly rolling out new value to help agents! That’s what happens when you’re with the only profitable publicly traded brokerage in the past 5 years. You read that right, the ONLY profitable brokerage!
In this blog, we’ll show you how simple the eXp Realty referral tool is and we’ll turn you on to how to get more referral business. Here’s your handy dandy index:
Table of Contents
What is a Real Estate Referral?
First off, let’s break down what a real estate referral is. In the simplest terms, a real estate referral is when you, as an agent, connect a client with another agent who’s better suited to help them. Maybe the other agent has expertise in a specific area or they’re in a different location than you? When you refer a client to this other agent and they successfully close a deal, you earn a referral fee—usually a percentage of the commission. So, the client gets the help they need and you get a nice reward for making the agent connection. It’s a win-win for everyone involved!
Referral Example
Let me give you an example to illustrate how this works in real life. Imagine Becky, a reputable eXp real estate agent in Los Angeles. Over the years, she’s built a strong network and frequently gets inquiries from clients who are outside her service area. Becky also has a YouTube channel where she lets people know that she can help them find a realtor in all 50 states and in 24 countries.
One day, Becky gets an email from Adam, a potential client who’s looking to relocate to New York City and he wants to find an agent to help him buy a home there. Becky isn’t located in New York City but she can locate an eXp New York City agent to help Adam.
Let’s say Becky locates Mike, an eXp agent who’s a specialist in New York City. Becky reaches out to Mike, and fills him in on Adam’s situation, and Mike agrees to take on the referral in exchange for a 25% referral fee. Becky and Mike sign a referral agreement and Mike starts working with Adam. After a few weeks, Mike successfully helps Adam find the perfect home, negotiates the deal, and closes the sale.
Mike earns his commission, and in line with the agreement, Becky receives 25% of that commission as her referral fee. Not only is Adam thrilled with his new home, but Becky also enhances her reputation by connecting her client with a top-notch agent.
eXp Referral Tool
Now let’s show how easy and fast it is for eXp referral agents to make referrals using eXp Realty’s Referral Tool. The whole thing is so simple! You have a client with a need, you find an agent, make a deal, and get paid when the deal happens. Let’s break down those steps – everything happens in just seconds with eXp’s Referral Tool!
Finding an Agent
There are three ways to find an agent for your client:
- Perhaps you already know one,
- Perhaps someone in your sponsor line knows one, or
- You can search in eXp Realty’s referral tool which already connects to the eXp Agent Directory.
And, don’t forget here, that eXp Realty has over 86,000 agents around the globe so finding an eXp agent is usually pretty easy!
Just hit “Select Agent” and you’ll find an agent in no time.
When you find an agent, call them, fill them in on the client’s needs, and agree to your referral percentage commission for a closed deal.
Fill out the rest of the form on the referral tool, sign the agreement and exp takes care of the rest!
Different From Other Brokerages
If you’re a referral agent at another brokerage, you know this process is either not possible because you can’t provide referrals outside your location or it involves tons of time. You need to find an agent, the hard way using the internet or, if you’re lucky, a company agent directory and then learn about the agent. After that’s done, there’s lots more time expended.
Like endless time to go back and forth with the agent, track down the right forms, get all the correct parties to sign the forms, collect the forms, submit those to the right place, and then follow up with the agent to see if any deal was closed and make sure you get paid what was agreed to.
eXp Realty’s Referral Tool
But with eXp Realty’s official referral tool, everything is streamlined. First, eXp’s referral tool provides an official eXp referral form that’s compliant across all U.S. states and territories. You literally have nothing to worry about or waste time thinking about.
You can easily find an agent and auto-populate the form with the receiving agent’s name and contact information. Then you enter the other necessary details and sign the form.
Now eXp takes care of the rest. The tool sends the agreement to all parties for eSignatures including the appropriate brokers, while shielding your client’s information until the agreement is fully signed. This ensures your client’s privacy is protected, and you’ve got a legally binding agreement in place.
After the agreement is signed, the client’s information is automatically shared with the receiving agent, and all you have to do is sit back and wait for your referral fee to come in. eXp keeps track of it all! It’s so simple!
How to Grow a Referral Business
Now that you know how easy it is to make referrals and how lucrative it can be, let’s talk about how you can get started making referrals. Here are some steps:
Step 1: Focus on the Referral Agent Business
This is an awesome opportunity to grow your real estate career and boost your reputation, and the best part? You don’t need extra licenses or courses to jump in. Once you’ve got your real estate license and you’re aligned with a brokerage, you can immediately start positioning yourself as a reliable referral agent. If you’re good at generating leads, this is where you can really shine.
Step 2: Build a Strong Referral Network
The quality of your referrals depends on the agents in your network, so build it wisely. Create a list of trusted agents with a proven track record of closing deals and delivering excellent service. Don’t just refer clients to friends—your reputation is at stake. Make sure the agents you’re referring to will get the job done. Keep your network organized in a spreadsheet or CRM so you can track your contacts easily.
Step 3: Find Prospects Needing Service Outside Your Area
Stay alert for opportunities when people mention relocating or needing real estate services you don’t provide. By being proactive, you can create a steady stream of referrals from those needing service outside your location or specialty.
And if you’re with eXp, you’ve got a bonus: eXp’s My Link My Lead platform. It helps you identify people in your sphere who are moving, investing, or looking for properties outside your area. It’s a game-changer for keeping tabs on potential referrals. We’ll break down that awesome platform in a future blog.
Step 4: Promote Your Referral Network
If you want to grow your referral business, you’ve got to make sure people know about it. Set aside time for events, conferences, and networking to expand your reach. Add your referral agent services to your website, business cards, social media profiles, and marketing materials.
Remind your clients—whether through newsletters or social media—that you can assist with transactions in other locations or even with different property types, like commercial real estate. Keep yourself at the top of their minds as their go-to referral resource.
Step 5: Use the Referral Tool
You’ve worked to find people who need real estate services that you can’t provide. Now just hit the link to the eXp Referral Tool and spend a few seconds to get that cash ball rolling!
There’s More
But guess what? There’s even more help for eXp referral agents. That is, besides eXp’s Realty’s My Link, My Lead program, which we mentioned above and will talk about in a future blog, we’ll also do a blog on eXp’s Referral Division.
That division is for agents who do ONLY referral business. eXp provides the opportunity to refer clients while lowering typical agent fees. I know—so cool! Again, that referral division information deserves its own blog, so we will cover it later.
That’s a Wrap
The bottom line, this eXp referral tool is game-changing and easy! It makes the lives of agents and their businesses much more fruitful and, in turn, allows them to better serve their clients. eXp Realty continues to offer agents more value than any other real estate brokerage can touch.
Join our FREE Team at eXp Realty
By partnering with us, you’ll be joining the ONLY profitable public brokerage in the past 5 years that agents rank as the best brokerage to work for.
With Smart Agent Alliance you’ll enjoy personalized day-to-day concierge care plus assets like customizable agent presentations, business automation, production checklists, customizable social media posts, and so much more.
As a member of our team, you’ll also enjoy exclusive access to the Wolf Pack weekly webinars, Social Agent Academy for social media training, the Wolf Pack Hub for easy onboarding, Investor Army for investing and flipping houses training, and more.
Don’t miss out on this amazing opportunity to maximize your earnings and build a thriving real estate business. Join eXp Realty today and experience unparalleled support from our FREE team.
Not quite convinced? No problem! Contact us to set up a meeting, request a link to a live webinar, and/or get all your questions answered via email, phone call, or video call. We’re here to help you succeed!
For more information, check out our eXp Realty overview, learn about our team benefits, and visit our Join Smart Agent Alliance page. Partner with us today and take your real estate career to the next level!
Frequently Asked Questions
What is a Real Estate Referral?
A real estate referral is when an agent connects a client with another agent who’s better suited to help the client. The referring agent earns an agreed-upon commission when the agent working with the client successfully closes a deal.
What is an example of an agent referral?
Imagine Becky, an agent in Los Angeles, gets an email from Adam, a potential client who’s looking to relocate to New York City. Becky locates Mike, a New York City agent to refer the client to. Mike successfully helps the client the perfect home, negotiates the deal, and closes the sale. Becky receives the agreed-upon commission as the referral agent.
What is eXp’s referral tool?
eXp Realty’s Referral Tool is an online tool for eXp agents where they can find eXp agents in 50 states and 24 countries to refer their clients to for their non-local needs. The tool is fast for agents to use. After filling in client details and locating an agent, eXp Realty does everything else. They get the correct signatures and make sure the referral agent gets paid upon a successful closing.
