From the course: Seven Streams of Real Estate Income
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The process behind warming up a lead
From the course: Seven Streams of Real Estate Income
The process behind warming up a lead
- [Instructor] Referring real estate deals is another way to generate extra revenue. It allows you to cherry-pick the best deals for your business and potentially make revenue on others. A referral commission can typically be around 25%. Referring someone is not as simple as handing off a telephone number. Referring someone is about warming up the lead before passing it off to the agent. The lead called to talk to you, not an agent, and there's a big difference between a lead calling an investor and a lead talking to an agent. There's often a reason they called you versus calling an agent. So help the lead have confidence in the agent to whom you are referring them. One thing to remember is that you may have to have a real estate license in order to have a referral commission. Some states require that. If your state does require that, and you do not have a real estate license, there may be another way that you can…
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