Here's some ideas on how to make money with real estate referrals. And even if you don't have a job that takes you into local neighborhoods, there are other ways to make money with real estate referrals.
I got a call from my Realtor friend, Bob and he asked if I knew of anyone in my neighborhood that might be thinking about selling.
I had to stop and reflect for a moment, but then I realized I had noticed some omens that my neighbors up the street might be moving. So I told Bob that I had noticed a lot of updates being done to their house while taking my weekly walk. I shared the info, and he thanked me.
I didn't give it much thought until the next week when I caught sight of Bob's Realty sign prominently displayed on this neighbor's front yard. Sure enough, my tip turned into a sale for Bob, and I earned a referral fee when it closed. Plus, I got some really nice new neighbors in the process.
So while I don't deliver mail, or have a job that takes me all over the city, the simple act of a morning stroll has proven to be nicely profitable.
So how can you get in on this? Real estate investors and real estate agents alike often pay for solid leads, especially when those leads lead to sales (lots of leading going on here ;-)
Consider all the jobs that take workers out into different neighborhoods, then examine how to make money with real estate referrals if you or someone you know has one of these golden opportunities.
Maria walks her little dog Charlie twice a day past my window. Each time I wave Hello to her I think about how much she knows about the goings on in my own neighborhood.
It might not seem like much, but when you keep notes on your phone as you walk, jog or even drive neighborhoods, once you get a small collection you can share them with your Realtor, other wholesalers or most anyone looking for leads.
Jeff, a wholesaler who is very active in the local REIA (Real Estate Investor's Association) tells me he enlists his mail carrier, since the mail carrier often knows more than the neighbors do about what is going on in the neighborhood. Postal carriers are the ones who see the incoming notices from moving companies, etc. and can easily point out the recently vacated homes.
Greeting his carrier, Jeff lets him know that there's a referral fee for any lead that comes his way, and he hands out his business card. Written on the back side is a promise to pay $50 for every lead that turns into an appointment.
So simple, and very effective. And every lead that leads to an appointment or sale, may people will be benefiting.