An essential guide to thriving as a referral agent with clients
Mastering Referrals
1. Collaborate with Leading Agents
A successful client referral often involves working with multiple full-service agents. More options typically result in better outcomes. If you lack a partner, NJR can connect your client with top-tier agents within our established network.
2. Establishing Your Rate
After selecting the agents you trust for referrals, define the expectations regarding splits, terms, and follow-ups. A typical rate is 25%. Every referral varies, but NJR can perform follow-ups for you.
3. Document the Agreement
Ensure all licensed parties involved (excluding the client) and their brokers put the agreed terms in writing. NJR provides a completely digital solution for establishing these agreements.
4. Brief Your Client
Discuss with your client who you’re referring them to and why you believe they’re an ideal match. Follow up with both parties for feedback after the initial meeting between your client and the partner agent.
5. Keep In Touch
Stay engaged to confirm that client expectations are being fulfilled. If they aren’t, intervene to adjust the course for success. If you lack the time for follow-ups, NJR can manage this for you and make necessary adjustments.
6. Receive Your Payment
If you’ve managed the previous steps well, this one should be straightforward. Always look for new ways to add value!
