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.
Content Card Series is shown above. To see more, click Here.
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:
- Appliance repair/installation
- Carpet cleaner
- Countertop Company
- Flooring installer
- Garage door installer/repair tech
- General contractor
- Home inspector
- Home warranty company
- House cleaner
- Insurance agent
- Interior designer
- Lenders/mortgage broker
- Moving accessories
- Moving company
- Pest inspector
- Pet pooper scooper
- Plumber/HVAC technician
- Pool Service
- Popcorn ceiling removal
- Professional home organizer
- Property Manager
- Real estate attorney
- Septic Company
- Tile contractor
- Title company
- Trash hauling
- Well inspector
- Window washer
Luxury agents might want to include:
- Audio/visual services
- 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.
1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine
Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct response-driven articles written by real estate industry experts combined with engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you.
Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here
2. The Free 12-Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
3. The BusinessBase, SOI building system
The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes but is also a business-building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here
4. The Free Interactive Real Estate Business Plan
The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here
5. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
6. The Take a Listing Today Podcast
Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here