Guess What Product Homebuyers Treasure Most from Real Estate Agents?
A Real Estate Referral List!
Nearly half of homebuyers surveyed (49%) by the NAR said that the third most important benefit that a real estate agent can provide is “. . .a better list of service providers,” such as a home inspector and other services. (NAR 2022 Home Buyers and Sellers Generational Trends)
While homebuyers consider this a benefit, the industry understands it as “value-added.”
Who would’ve thought that something as simple as a list of vendors could be a treasured service?
No, it’s not a new service, but it’s become an in-demand one and a way for agents to set themselves apart while offering value to your services.
It beats a closing gift
A real estate vendor referral service is the gift that keeps on giving. If set up properly, it brings your brand before their eyes multiple times into the future. It can also benefit you by giving you “touch” opportunities down the line.
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How to put together a real estate vendor referral service list
Whether you call them vendors or affiliates, the people on your list should be many and varied. Oh, and highly vetted, which we’ll discuss later.
Let’s take a look at some of the vendors you might want to include on your list:
- Accountant
- Appliance repair/installation
- Carpet cleaner
- Countertop Company
- Electrician
- Flooring installer
- Garage door installer/repair tech
- General contractor
- Handyman
- Handyman/woman
- Home inspector
- Home warranty company
- House cleaner
- Insurance agent
- Interior designer
- Landscaper
- Lenders/mortgage broker
- Moving accessories
- Moving company
- Painter
- Pest inspector
- Pet pooper scooper
- Plumber/HVAC technician
- Pool Service
- Popcorn ceiling removal
- Professional home organizer
- Property Manager
- Real estate attorney
- Roofer
- Septic Company
- Stager
- Tile contractor
- Title company
- Trash hauling
- Well inspector
- Window washer
Luxury agents might want to include:
- Architect
- Audio/visual services
- Engineer
- Home security systems technician
- Home watch/Housesitting services
- Landscape architect
- Trust attorney
Vendor list research
If you’re just starting a real estate vendor referral service, you’ll need to do some research in your quest to figure out who to include. Start at yelp.com, read reviews, and jot down the names of those you want to interview.
Join your neighborhood at NextDoor.com. One of the main topics of conversation on the platform is “Who do you recommend for [insert the service].”
In fact, if you enter any service into the search bar at the top of the page, you’ll find every conversation having to do with it.
Finally, ask for recommendations for your real estate vendor referral service from colleagues, family members, and friends.
Once you’ve compiled a list of names, move on to the Better Business Bureau to check for complaints.
Then, ensure that the vendors you’ll interview are licensed and bonded by consulting the appropriate state licensing board’s website.
This step is very important. “… the Realtor is not responsible for the work of a properly licensed contractor, or pest inspector for that matter. When a Realtor calls a licensed professional, they are doing so only in their capacity as a representative of their client,” according to Tim Jones at DailyRepublic.com.
Still, consider putting a disclaimer, in writing, on your website.
Now, you’re ready to interview each candidate. Don’t forget to ask for references. Get the references’ phone numbers and contact each one.
There’s more to the compilation of this list than meets the eye. Avoiding RESPA violations is tricky, and we’ll cover that in Part II, so be sure to check back soon.
PLUS: When you have time…below are some marketing tools to help support your success.
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