Residential Real Estate Agent Referral Program
Your Referrals Stay With You
When you trust us with your commercial real estate referrals, we encourage your referrals to be loyal to you. We don’t try to divert them to someone else–especially when we are dealing with corporate re-locations, which is important. If we help your clients find their new headquarters or an intrastate re-location, we send any resulting residential referrals back to you.
With The Client’s Permission, We Can Keep You In The Loop
We have top-shelf technology for client communication. If the client chooses, we can add you to the communication streams so you can check in on where and how the process is going. That way, if you are helping them find a home too, you can know how their corporate search is going and any changes in time-lines.
You don’t need to be a commercial agent to make money in commercial real estate.
Even as a residential agent you can still be eligible for finder’s fees and referral fees.
With the specialists at Accel Group, you can trust your referrals will get top-notch service they expect. You can earn income through referrals from your residential customer base if you are a licensed agent. We are happy to share scripts for you to help you as you talk to people. Then you can know what to say to help you find out if your contact would be a referral prospect. It’s important for you to get to know us so you can increase your chances of success for your referral prospects. Make sure you get your referral agreement in writing. If you don’t have an agreement, we can provide one for you. Once you make your referral, we take it from there. You can go about your own activities and let us send you a check when we close the transaction.
You can enthusiastically let your database know that you now have great contacts in commercial real estate.
You can also coach your friends and family to listen for hints of companies that might be relocating, downsizing or expanding. Maybe that person needs or wants to buy or sell their facilities or needs assistance in tenant or landlord representation. You can also coach financial planners, attorneys, CPAs or trade professionals you know to give you leads to pass forward. The first question you ask is “Do you currently own commercial real estate?” If the answer is “yes” then that person is probably going to be will to talk about what they own and what they want to own. The next question to ask is why do they want to buy? Trying to ascertain their motivation will help gauge whether or not they are a qualified client or if they are only looking for the perfect deal. The next question to ask is “Do you have the authority to make a commitment, as well as select an agent?” Then ask “Can you secure an exclusive listing/representation?”
*Income from a Typical Home Sale
Average Home = $210,000 X *2.7% = $5,670 Average Time on Market = 90-200 Days Average Showings/Client = 10-75 Homes
Approx Hours/Listing or Hours/Sale = 50 Hours $5,670.00 Divided by 50 Hours = $113.40/Hour
*Weighted Average Commission Rate
Typical Income from a Commercial Referral
A Moderate Commercial Deal is $750,000
Average Commission is 2.7% $750,000
X 2.7% = $20,250 X 25% (Referral Fee) = $5,062.50
Time spent for referring agent:
Ten-minute phone call or
$30,375/hour For a part time job!!!
**Tennessee State law prohibits us from paying a referral fee to anyone but a licensed realtor.
Security and Protection for You
- We send you a referral agreement.
- We will keep you informed.
- Referrals avoid issues with Article 11 of the Realtor Code of Ethics.
- KW Commercial offers comprehensive services to meet your clients’ needs.
- Referrals will add to your financial success.
Who are Potential Commercial Clients?
Review your client list, acquaintances, business professionals, friends, relatives, or places of business for the following and listen for opportunities:
- Business owners
- Do they own or lease the real estate used for their business?
- Wealthy individuals
- Most have, or want to have, commercial real estate as a part of their portfolio.
- Corporate executives
- Do they make, or know who makes, the company’s commercial real estate decisions?
Buzz Words and Hints
- Are they or the company they work for expanding or relocating?
- Starting a business?
- Are they looking for lease space?
- Are they interested in buying a business?
- Do they own or want investment property?
Questions to Ask
- Do you currently own commercial real estate?
- What type, where, what size ($), and how many?
- Why are you looking to buy?
- They just sold something (1031 exchange)
- They believe in our market
- They have money to invest
- Do you “have to” invest? (motivations)
- What is your budget, preferred return, timeline, and other requirements?