If you're one of the 589,800 real estate agents out there, then you know how busy the job can keep you. Finding, showing, and closing real estate deals likely takes up a huge amount of your time.
However, if you're also managing your client's properties on top of that, it can distract you from new deals. One solution to consider is a real estate agent referral program.
Unfortunately, not all of these programs are created equally. So what should you look for in a referral program? And why does PMI First Choice Property offer one of the best ones in the Newport Beach, CA area?
In this guide, we'll answer these questions so you can decide if it's the right call for your real estate business.
What Is a Real Estate Agent Referral Program?
During the pandemic, millions of people were laid off from their long-term jobs. In search of a new career path, many people decided to get their real estate license. Unfortunately, this boom didn't last for everyone.
As this article notes, rising interest rates mean that thousands of these jobs are now in jeopardy. Real estate has been a competitive field. However, this changing landscape means that agents often need to work twice as hard to both keep their existing clients and bring in new ones.
This becomes a problem when one of your clients requests something like property management services. Managing properties is extremely time-consuming.
It takes away from time you could be spending selling real estate. That's where a real estate agent referral program comes into play. You'll refer your client to a management company that will then pay you not to manage your client's property
How Is PMI First Choice Different From the Competition?
The problem with this type of program is that it can feel like you're giving away your relationship with clients. That's not the case here at PMI First Choice, thanks to our Professional Alliance Guarantee. With our company, your client stays your client.
That means that if they need to buy or sell properties in Newport Beach, you're the first person the property manager will reach out to. In the meantime, you benefit from upfront or regular payments just for referring an agent.
What Should You Look For in a Property Management Company for Your Clients?
The last thing you want is to refer your client to a subpar management service. So what should you look for in a company? Rental analysis services are great for finding the right rent prices for your client.
And tenant screening services mean they only get good tenants in their properties. Lastly, make sure things like maintenance are handled by experts in the field and not jack of all trades.
Ready to Make Money? Contact PMI First Choice
We hope this guide helped you learn more about our real estate agent referral program. Here at PMI First Choice, we know that a lot of referral programs can feel like sketchy poaching tactics.
That's why our number one promise is that your clients will stay your clients. It's a beneficial arrangement that works out for everyone. So if you have any questions make sure to contact us today and we'll be sure to answer them.
