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Sign into your accountHow Referrals Can Help Take Your Business to the Next Level
March 28 2018
"A lead is simply an inquiry on a property. A referral is a lead that's been qualified: The person giving the referral has taken time to ask specific questions that qualify that lead." — An agent quoted in the 2018 Agent-to-Agent Economy study by ReferralExchange.
For newer agents entering the industry, leads are an important part of how they grow their business. However, for more established agents, referrals represent a real opportunity not just in business coming in, but in creating a network where they can refer clients out. Many clients may need an agent outside their main agent's geographic area or service parameters. When that occurs, some clients may feel they have to go it alone. However, having a referral system that supports their sphere doesn't just provide the agent with additional income, it delivers peace of mind for agents and their clients.
What does a strong referral business look like and how can this be a potential "side hustle" for agents, providing a secondary income stream?