vicki walsh lifestyle real estate referral manager
TRANSCRIPT
Vicki WalshLifestyle Real Estate Referral Manager
Growth Through Referrals
Referral Definition
Referring your clients to other brokers / agents when they are looking for real estate
outside of your market area for a fee.
Accepting referrals (new clients) from brokers / agents outside of your market
area for a fee.
Benefits of Referrals to YouPlacement of Referrals:
• Provide added value to your important clients– Locating and qualifying a new agent in outside markets is difficult
• Provide expert qualification
• Ensure continued high level of service to your clients
• Incremental Revenue
Receiving Referrals:
• Eliminate Local Competition
• Increase Client Base
• Incremental Revenue
Real Estate Referrals are Big Business
Real estate companies with a strong referral program
receive 20-30% of gross commissions from referrals.
Source:Top Brokerages, Gathering of Eagles
A Superior Experience
UC Referral Program Objectives• Dramatically Increase Referrals to United Country Offices
24 Month Goalo + 150%o Add an additional 2,000 Referrals
• Increase Placed Referrals for United Country Offices Increase ease of placement for UC Offices Eliminate placement, management and collections issues
• Ensure UC Office Client Satisfaction
• 20+% of Total Office GCI
Lifestyle Real Estate Referral
Offering a professional, centralized, full service referral solution.
• Identification of Broker• Qualification of Broker / Agent• Placement• On-Going Management• Reporting• Payment
A Superior Experience
Managing Your Referrals with Professionalism and Ease
• We treat your clients, like you would
• We hold referral partners to the highest contracted standards.
• We track, manage and report all referral details from placement to closing for you.
A Superior Experience
Strategic Partnerships with Member Networks
Urban Markets:
1. United Real Estate
2. The Leading Real Estate Companies of the World (LRE)member network of over 500 premier urban real estate firms– 4,600 offices and 140,000 sales associates.
3. Independents– Chosen in markets without United or LRE
A Superior Experience
Strategic Partnerships with Member Networks
Lifestyle and Rural Markets:
1. United Country Real Estate– 500 Offices Nationally and Costa Rica, Panama and Mexico
2. Independents– Chosen in markets without a United Country office
A Superior Experience
Strategic Partnerships with Member Networks
• Other Referral Companies
• Relocation Companies
• LRR is continually researching and creating new partnerships to increase referral leads
A Superior Experience
Independent Agents Searching for Referraland Relocations Companies
• LRR website SEO “Referral Agents”, “Relocation Companies” and related terms
• Marketing campaigns to non-United Country agents to promote the LRR referral program
Referral Property Types• Residential• Land• Farms• Ranches• Recreational• 2nd Home and Vacation• Commercial
Potential Referrals
• Every current client– Buyers – “Selling Somewhere?”– Sellers – “Buying Somewhere?”
• Every new client– Buyers – “Selling Somewhere?”– Sellers – “Buying Somewhere?”
• Every contact– Buyers – “Selling Somewhere?”– Sellers – “Buying Somewhere?”
Expectations for Members of the Referral Network
• Contact and accept / reject referred clients within 48 hours of initial contact.
• Monthly updates needed and reported to referring agent.
• Referral manager needs an update when the property is listed andwhen the buyer has made an offer.
A Superior Experience
UC Beta Test
Total listed YTD = $22 million
Total closed sales YTD = $864,000
Total incremental GCI YTD = $60,480
A Superior Experience
UC Buyer Referral Case Studies
UC Office Buyer Lead to LRE - SOLD
• UC Stuart, VA.
• Johnny Lambert referred a buyer to LRR
• Placed with LRE partner Arizona Best Real Estate.
• Johnny’s office received a referral check for $ 1,460.
UC Buyer Referral Case Studies
LRE Buyer Lead to UC Office - SOLD• LRE member contacted LRR with a buyer lead.• LRR placed with UC Yellville, AR. • Billy Baker sold them a home.• Billy received $4,500 in commissions.
United, Dallas Buyer Lead to UC Office• United Dallas Buyer Looking for 700 – 1,000 acres.• LRR Placed with United Country, Tyler Texas, Carroll Bobo.• Carroll is currently working with this buyer.
UC Buyer Referral Case Studies
ReMax to UC Office - Sold
• ReMax office directly contacted LRR
• Buyer lead Ardmore, OK area
• Kevin Gann sold $380,000 home to buyer
• Kevin’s UC Office received a check for $11,400 in
commission.
UC Listing Referral Case Studies
Listing Lead LRE to UC Office• LRE Contacted LRR with listing in Trinidad, CO
• LRR placed lead with U C Trinidad, CO, Brant Noziska
• $1,000,000 listed
• Receives the most hits on their office website.
Listing Lead LRR to UC Office• Property Owner Contacted LRR for help with a listing in CA
• LRR placed the listing with UC Yreka, CA, Rich Cloutman
• Rich listed the $1,200,000, 27 acres, view of Mt Shasta.
UC Listing Referral Case Studies
Listing Lead from a UC Office to LRE
• UC Eagles Nest, NM, Gabriele Heinz referred a buyer to LRR
• LRR placed lead through LRE in a market without a UC Office
• LRE Office listed the home for $ 269,900
• LRE Office currently working with interested buyers
• LRR keeping Kevin up to date and monitoring progress
Referral FeesReferral Fees Range from 10 - 30%
• LRR Generated Referrals are 10% - 30%– 10% to UC Offices– 30% to Non-UC Brokers
• Referrals Placed for UC Offices by LRR are 30%– 25% to UC Office– 5% to LRR
• LRE Generated Referrals (over $50,000) are 30%– 25% to the Referring Agent– 5% to LRE– LRE Generated Referrals (under $50,000) are 20%
• 20% to the Referring Agent
• External Leads Vary Based on Referring Office Requirements
Getting Started / Next Steps
• Agent Meetings– Explain potential and process
• Office “Client” Procedures– Add to all seller and buyer meetings
• Office Referral Form
• Include in Listing Presentations
• Client Marketing Materials
• Ask Every Client
Office Referral Form Out of Area Agent Services Network
LRR 06/13 vlw
Client Name ________________________________________________________________________
Spouse/Partner Name
________________________________________________________________________ Daytime Phone Number ___________________________________________________ Cell Phone Number ___________________________________________________ Email Address
________________________________________________________________________ Address of property / Market area searching
________________________________________________________________________
Price Range _________________________________________
Is this referral a buyer lead or a listing lead _____________________________________
Summary of conversation with client:
1. Referring Company __________________________________________________________
2. Referring Agent Name_________________________________________________________
3. Referral Fee Percentage ________
4. Referring Company Broker Name _______________________________________________
5. Referring Company Broker Signature / Date _______________________________________
• Available on the UC Intranet
• Home Office
• LRR Website
Ensure quality.
Free your time. Increase sales. Call us with your referral
and we will place it, report it regularly, manage it and send a check whether it closes tomorrow or a year from now.
A Superior Experience
How to Contact Us
To Place a Referral, Find an Agent or Learn More
888-729-3799
A Superior Experience
Questions and Answers
Vicki Walsh - LRR Referral Manager