Extra money from referring clients to real estate agent
By jureathome
@jureathome (5361)
Philippines
November 22, 2012 2:46am CST
A friend of mine did so well in real estate and is now a VP in one of the local real estate agencies. He invited me to make extra money by referring clients to him. All I need to do is give them his contact number so he can discuss all the necessities, and when they buy, then I get 1%. Wow! I hope it was that easy to find someone interested in buying house and lot.
3 people like this
4 responses
. You should ask for at least 10% of his own commission before calling your contacts
.@jureathome (5361)
• Philippines
22 Nov 12
I know, but, if you think about it, I just have to go through my friends list or phonebook and see if anyone is thinking about buying a house, and give him their number. That's all. I guess that's easier than his job of doing the sales talk.
1 person likes this
@topffer (42156)
• France
22 Nov 12
You are introducing him to potentially real customers and it is worth a lot more money than 1%. Some real estate agents are giving up to 1/3 of their commission for such a service -- people have not thousands of friends wanting to buy a house -- : think about it.
@jureathome (5361)
• Philippines
22 Nov 12
That makes sense. So, I should ask for more once I get him an appointment.
1 person likes this
@LionHeart319 (164)
• Philippines
22 Nov 12
I would suggest that you clarify what he means with 1%. Is it 1% of the selling price or 1% of his commissions only. Although, in my experience, a full time real estate sales agent gets 3-5% commission from the contract price. Indeed there's a good money in sales.
So if he would give you 1%, say from contract price (same as selling price), well it's already a good deal considering that you will only do this whenever you happen to meet someone who's planning to buy a real estate property. Once your friend closed a deal or two from your referrals, you may want to consider going full time.
@LionHeart319 (164)
• Philippines
24 Nov 12
Well, 1% referral fee based on contract price is already a good deal considering it's just a matter of setting appointments between your friend and a prospect buyer. You can also learn by observing during every appointment, if you're open for new learnings. Anyways, it's a very interesting topic.
thanks!
@jureathome (5361)
• Philippines
25 Nov 12
That's what I thought. I could be there during their appointment to observe and see how my friend does his trick, then I get an instant training. Who knows, someday I may get really interested and be good at it.
@jureathome (5361)
• Philippines
22 Nov 12
It's 1% of the contract price. That's what I thought. I would only have to get him an appointment and he'll do the rest.
I don't know about selling houses. I think its hardcore sales and Im not very good with face to face deals. I was a senior sales manager in a call center, but I don't think this type of set up works for me.
1 person likes this
@TeamCholent (2832)
• United States
22 Nov 12
That could be a lot of money for you if you manage to work hard and have some luck locating either buyers or sellers(I assume you get for a seller as well?) Good luck with this new venture and hope it plays out well.
@jureathome (5361)
• Philippines
23 Nov 12
Well, I don't really want to pressure myself with that. If I find a friend who's interested, then I know who to call. But, Im still taking my sweet time here at home.
@mariaperalta (19073)
• Mexico
22 Nov 12
Great idea... I have a friend in the usa who does this. She had them make business cards for her. These cards had the agents name first and her name on bottom. She has earned very well over the last few years. All from very little work.
@jureathome (5361)
• Philippines
23 Nov 12
Wow, that was a good idea for her to make those business cards. Then, she could just easily give away the agent's contact information. That story is quite encouraging. Thanks.
