ReferralExchange has recently launched in the US. It allows agents to send their excess leads to a network of other agents and then ReferralExchange is only paid if a transaction is completed with the lead picked up from the ReferralExchange system.
As real estate agency is all about leads, this is a great way in which agents can monetise the excess leads that they are generating. Clearly the biggest issues for ReferralExchange will be tracking the transaction to completion and making sure that all fees generated are appropriately paid.
Here is an overview of the business from the ReferralExchange website.
Our goal is to eliminate the time and aggravation surrounding the outbound real estate referral process. We help you make more money by allowing you to focus on leads within your area and preferred property type—while still earning a referral fee on the leads that aren’t an ideal fit. We handle the entire process—from finding agents for your clients—to managing the referral agreements—to ensuring that everyone gets paid.
Who we are
ReferralExchange is a sister company of AgentMachine, the nation’s top real estate agent referral brokerage. Since 2005, we’ve helped thousands of clients buy or sell property. Both companies are owned by Flywheel Networks, a technology and customer service company dedicated to improving the real estate agent-client relationship and agent-selection process.
We combine innovative technology, premiere customer service, and a nationwide network of thousands of top performing real estate agents to ensure that your clients are connected with up-to-three agents who best fit their needs. We personally contact every client, and you can be as involved or uninvolved in the process as you choose.
How we work