We believe that there is more to being a referral partner than signing a piece of paper that lists the referred person's contact information and your agreement to pay whatever percentage is negotiated of commission upon closing for the side for which you were responsible. Percentages vary...listing and selling commissions vary....nothing is carved in stone until both parties agree to the referral arrangement.
Any relationship....begins...and hopefully continues with good communication. When we receive a referral...(three such opportunities this week...woo hoo !) We believe in keepiing our "referral partner" in the loop....
Be it buyer or seller when we have had the first contact...email, phone conversation or arranging a meeting, we let the RP (referring partner) know that we have a meeting arranged. If it is a Seller, we let them know when our presentation is being made and by when their referral expects to make a decision if they are interviewing more than one agent.
If we have tried in a number of ways a few times to reach the referral and gotten no response....we also let the RP know that as well. There can be a number of reasons for this and rather let the referral fall between the cracks of house and home....we let them know we have tried and to date, are unable to reach the referred buyer or seller. This can very important...maybe a commission arrangement was made based upon the ability of the RP to refer besides having sold a home....and not knowing can mean a DOUBLE loss for them. From the school of "been there/done that....we called an agent we had referred a buyer to...."I guess we just lost touch...." came the very unsatisfactory answer.
If it is a buyer...tell the agent when they have an accepted offer...send them a link to the listing. If you have taken the listing...send a link to MLS and/or other marketing material you have done on behalf of the referred client.
MARKET LIKE YOU MEAN IT...not just for the referred client but for the AGENT who gifted you with the referral ! Keep them tuned in...Treat them as you wish to be treated...and you may find that word of mouth...or that "Same Mouth" will bring you MORE referrals !
This has been a professional marketing post brought to you by Sally K. & David L. Hanson, Broker Associates with Keller Williams Realty honored to be serving southeastern Wisconsin for all things real estate.