People are always amazed to learn how referral agents earn commissions without having to deal with finicky clients or paying the typical $2,000 per year in overhead costs. The secret to success as a referral agent is simple: remind people in your network that you can help! If you already use social media or attend family gatherings once or twice a year, you can earn referral commission when:
A family member moves
A co-worker moves
A friend moves
You move
You buy an investment property
You buy a vacation home
Each referral transaction alone can be worth thousands of dollars in referral commissions. All it takes is an introduction. On top of that, you get to keep your license in case you ever want to work as a salesperson again. There are also a few ways you won’t earn commission as a referral agent, including when:
You pay thousands for Zillow leads
You sit open houses every weekend for a month
You show 10+ properties to a single client
You spend hours preparing offers for a client
You take a week to create a listing presentation
Referral agents can spend as little or as much time as they want drumming up business. Whether you keep your license casually or want to actively pursue referrals, a referral agent makes money whenever it’s convenient.
Earn money in your spare time
If the risk of operating as a full-service salesperson is no longer appealing, or if you simply want to take a step back, avoid the fees and earn commission in your sleep (up to 90%), you should probably think about making the switch.
