{"id":316,"date":"2022-08-30T08:54:51","date_gmt":"2022-08-30T08:54:51","guid":{"rendered":"https:\/\/referralcloud.co\/blog\/?p=316"},"modified":"2022-08-30T08:54:53","modified_gmt":"2022-08-30T08:54:53","slug":"why-use-referralcloud","status":"publish","type":"post","link":"https:\/\/referralcloud.co\/blog\/why-use-referralcloud\/","title":{"rendered":"Why Use ReferralCloud?"},"content":{"rendered":"\n

Getting more Referrals with ReferralCloud<\/h2>\n\n\n\n
\"get<\/figure>\n\n\n\n

You give a referral.  It closes.  You get a 25% referral fee.  Then what?  Do you get a referral back from the real estate referral gods?  Not likely.  Would you like to get a referral in exchange for the one you gave?<\/p>\n\n\n\n

Most agents certainly would.<\/p>\n\n\n\n

Giving an agent in another market leads to one thing, a paycheck.\u00a0 But what if you could also get a new inbound client? \u00a0<\/p>\n\n\n\n

Get a New Client from a Referral<\/h2>\n\n\n\n

The mechanism of getting an inbound referral for the one you gave didn\u2019t exist prior to ReferralCloud.\u00a0 Franchise networks<\/a> are too small and don\u2019t cover the entire US.\u00a0 Even large real estate companies like Keller Williams and eXp don\u2019t cover even 50% of the agent population.\u00a0 What this means is that without a central referral clearinghouse, the network effect of being able to get new business each time you give out a referral doesn\u2019t exist.\u00a0<\/p>\n\n\n\n

Real estate referrals are highly coveted among real estate agents.  Referrals have a much higher closing percentage compared to \u201cleads\u201d that come from the hundreds of online companies selling the same leads to dozens of different agents.  Most of those leads only have a 2-3% closing percentage, which means you have to get 50 of them to have a closing, plus you have to work like crazy with follow-up phone calls, emails etc to convert them.  <\/p>\n\n\n\n

Most referrals have about a 40% closing chance.\u00a0 This is a much higher percentage than a lead.\u00a0 But what more referrals don\u2019t lead to is more referrals.\u00a0 With ReferralCloud, referrals lead to a new client and more referrals.<\/p>\n\n\n\n

ReferralCloud as a Referral Coordinator.\u00a0 <\/h3>\n\n\n\n

An agent places an outbound referrals in their platform and the team evaluates the referral and finds the agent that is next in line in that market.\u00a0 Usually it is the agent that first placed an outbound referral in the platform.\u00a0 Here is an example:\u00a0 If an agent needs a referral person for San Antonio, a ReferralCloud agent success coordinator will look at who has placed referrals in San Antonio to other agents.\u00a0 If only one has placed an outbound referral then that agent is automatically selected.\u00a0 If two agents have placed outbound referrals, then the agent that first placed their referral is given the inbound.\u00a0 If an agent has placed more than 1 then usually they get the next referrals. \u00a0<\/p>\n\n\n\n

The general order for assigning referrals to agents in a market is as such:<\/p>\n\n\n\n