Referrals to Real Estate Agents Across the Globe
- Adam Garrett
- Dec 30, 2023
- 5 min read
Updated: Feb 28
Information for Buyers & Sellers on Receiving a Referral:
The Problem with Many Sources to Find an Agent
Many people today are finding the agent that they use to buy or sell a home, lot, or commercial property in a wide variety of ways.
Sometimes they will find someone they know. Especially if there isn't much information about what they offer, often there are better available options than those they know, and very few agents have detailed pages on the subject like I do for buyers and sellers. With pages like those, one can more readily compare what agents have to offer available, but it's extremely rare for those sorts of details to be present.
Sometimes they will choose an organization, bank, or group that they are a part of or follow to help them know. When choosing to request an agent from a group, organization, or bank, most often the institution automatically assigns you to someone (or multiple people vying for your business) without any manual placement or the first agent that responds to your request that they send out to multiple agents, and so your needs and desires aren't factored into the equation much.
Sometimes people will look at online reviews, & recent &/or total closed volume, but will neglect to check on things like how many closings the agent has had, how long they have been in the business, etc. I've seen where an agent appeared to have around double the amount of reviews as they had transactions. While I believe in reviews to some degree & have dozens of them myself about my own business by others, reviews can be very misleading if you rely too heavily on them without looking at other factors.
Sometimes a friend will refer you to an agent, but it's important to ask your friend how many properties they have closed on themself & how many agents they have used in the past to get a better idea about the perspective of that friend. If they've closed on 20 homes with 20 agents in the same area, and 1 agent that they are referring to you was much better than others, that means a lot more than someone who has never used an agent where the agent has minimal online presence, and where that friend has never closed on a home before but because they knew them for a long time, wants to give their friend some business.
Getting a Quality Referral
What if, instead of a situation with a high probability of not getting the best agent, you could have an agent do a manual search for you in your area tailored to your preferences, where the agent searched for at least an hour before coming to conclusions about the best few possibilities that fit your unique preferences as well as some standard criteria that the agent looks for such as high reviews & experience in your area? What if those agents were also able to often match or exceed the net impact of whatever benefits you were being offered by others in many cases, such as often with rebates, free professional photography, non-exclusive buyer brokerage agreements if you have had bad experiences with deadbeat buyer's agents, or otherwise? I can look for all of that if desired; just be sure to send me a picture or screenshot in the case of matching what others are offering.
My Incentive for Providing You a Quality Referral
You may or may not already know this fact, but real estate agents can get high-value referral fees for referring you to another real estate agent to buy or sell in a different area even if it's in a different part of the country. What that can mean for you is that if I am going to give you a referral, I have a high financial incentive to give you the best referral possible for someone that you'll use that is superior to other possibilities that you might reach out to on your own if desired. It also means that you have someone to reach out to, me, if you're having a problem with that agent. I can speak to you about the issue, share my perspective on what's happening, and then either speak to the agent about it, advise you how to discuss things with your agent, do a conference call, or take other action.
Typically, Adam seeks a referral fee, but there are some exceptions:
A referral fee would not apply in cases regarding an agent or broker where the buyer or seller asks him about that same individual prior to Adam's inquiry if the buyer or seller provides a list of up to 5 people to Adam prior to Adam's research.
A referral fee would not apply if no compensation to the referred agent (typically via closing) occurs
Referral Form
Click here for a form where buyers and sellers may provide their information for a referral to an agent.
Information for Agents/Brokers on Providing an Option for a Buyer or Seller After Speaking with Adam:
Expect Atypical, Detailed Questions for a Referral
Adam's referral style is unique:
He gets into further detail in the questions that he asks of agents & brokers regarding the service that they'll offer the seller or buyer & the terms with which they offer those services.
Adam does certain things for his own clients that aren't common among brokers/agents, even those that have been in the business for decades & have had very high volume, that relate to his questions.
Adam Appreciates Learning More from Other Agents
Not all states and not all markets are the same. Adam likes to help buyers and sellers that he works with via education & appreciates it when agents/brokers in other markets can help him learn more about doing business in another location. Likewise, if Adam introduces a concept that you haven't heard of before, feel free to ask him about it.
Adam Appreciates Candor, & May Ask Questions Accordingly if an Answer is Ambiguous
For instance, Adam asks about whether there's marketing of a home beyond the MLS and sources that auto-populate from MLS. If the agent were to respond, "We do paper marketing in neighborhoods", don't be surprised if Adam asks, "Would you do paper marketing for this referral? If so, how many homes would receive mailers, and when would those mailers typically be sent?"
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