When I first started in the real estate business I was really green. I had lots of experience as an engineer and lots of experience in construction but not much in sales, certainly not real estate sales.
I knew nothing about referral fees, splits, etc. when it came to working with another agent. My broker said it was ‘up to me’ what I wanted to do but gave little to no guidance. There was no Facebook group like there is now to ask questions.
One of the adages I live by is “the one with the money gets the experience and the one with the experience gets the money”. That held true on my first request for an agent to cover for me.
We really did not discuss the split between us (shame on me) and it got all the way to the end and the agent who covered for me and showed one house wanted 50% of the commission.
I was livid. 😡
I called my broker and got the response I expected. “Did you have anything in writing?” she asked. It went down hill from there.
Long story shorter so I can get to the point is we settled on 33% for his 1 hour of work and I learned a lesson. More important to me however was seeking better folks to cover for me.
Since then I’ve gladly paid referral fees and covered someone expenses plus for opening a door (now we have showing assistants) and I have great friends who will cover for me and I will cover for them and we trust it will all come back to us for our good deeds.
There is no debt between friends and I have lots of friends now. I love what I get to do in my real estate business and in my mentoring business.
I just taught a class to 28 agents from inside and outside my office on how to work by referral from day one. Most of those 28 were new agents and anxious to learn. They asked good questions and I’ll be following up with them.
I got the chance to do this class and taught it for free to give back. To give back to all those who helped me, taught me and encouraged me.
I’d like to do that for you.
If you’re reading this and not signed up then scroll down and do it.
If you do, I plan to create that class into 3 videos of about 20 min each and share them for free. I want to help you and your new agent friends, to encourage them and show you a way that does not require a lot of expense or hours on the phone, cold calling.
I know. You think there is a catch but I assure you there is not. It’s free to sign up, free to follow and read what I share and free for the tips and tricks I have. Test it and see.
Thanks for listening,
PS – if this was helpful to you, please share it with your friends and agents you know that would benefit from being a part of this gang. We’d love to connect with more folks. If you sign up below you will get a checklist to start your referral-based real estate business. We’ll stay in touch with more tips, courses, and info. It’s free and you can unsubscribe anytime. Give it a try and see if we can help.
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