As property managers, we always try to foster the type of relationships with real estate agents that will produce leads for new owners that profile to the type of client that we desire. Although we can take a referral from anyone and they are eligible to join our program, we are only able to pay real estate agents a monetary referral fee equal to one month’s management fee of the property we sign.
What is in it for Referral Partners?
Beyond the financial reason, for those that qualify, a referral partner may want to work with us because:
What is in it for Us?
Providing structure and management around our referral base permits Mars Hill to develop long term relationships with people who are like minded in the industry and will continue to funnel business our way should we continue to demonstrate our value and appreciation to them. It is always easier to grow business from a warm source. You have already gotten to know each other and created trust around your interactions. Working with someone you know and trust makes work much better.
Preferred Agents
All someone would need to do to participate in this referral program is to refer us business and/or request to be added to the program with the intention of actively sending us business. A large contributor to this program are the preferred agents that we use to show our rental homes. These agents will have signed a “Preferred Leasing Agent Agreement” which defines the expectations we have of our working relationship. The agreement outlines payment we are willing to offer for showing and renting our homes and the financial reciprocity that we expect should any of our rentals turn into a sale that we give to the agent partners.