Why Real Estate Referrals Help You Buy or Sell Your Home

What is a Real Estate Referral? This is an arrangement where your Realtor® coordinates your real estate transaction with another agent and shares the commission. Referrals are typically used for transactions outside of your Realtor’s geographic focus area, but may otherwise be recommended in any situation where there is an advantage by getting another Realtor involved. Because the commission is split between your Realtor and the other agent, you receive all the benefits of the referral arrangement without any additional cost.

How does the Referral Agent Select another Agent? Your Realtor will help secure an agent that is trustworthy, successful, and a good personality match for you. This will be through a previously-established relationship or industry reputation and an interview process. You will have the opportunity to review the agent’s credentials and interview them yourselves if desired. Your approval is required to proceed with the referral arrangement, so if you aren’t comfortable with the recommended agent for any reason, your Realtor will provide alternative recommendations.

What Advantages do Referrals Provide to Home Sellers? In a referral arrangement, the home sellers have the advantage of an additional advocate or resource throughout the sale process. This provides several benefits, including:

  • Your Realtor will prep the selling agent for working with you. This will help ensure your preferences are understood upfront and streamline the listing process.
  • Your Realtor will review the listing and marketing plan and monitor the listing performance. This extra set of eyes will help ensure everything is being done to sell your home as quickly and financially advantageous to you as possible.
  • Your Realtor can provide a second opinion on recommendations made by the selling agent. This can be helpful in your decision-making process.
  • Your Realtor can step in if any issues or conflicts arise with your property sale or selling agent. This will help ensure the situation is mediated effectively while minimizing your stress.
  • Your Realtor will prep the buyer agent for working with you and may even recommend initial properties to view. This will help ensure your preferences are understood upfront and streamline the property search process.
  • Your Realtor can review property and contractual details prior to placing an offer. This will typically be done only upon your request, but can provide you with extra assurance that the offer is in your best interest.
  • Your Realtor can step in if any issues or conflicts arise with your property purchase or buyer agent. This will help ensure the situation is mediated effectively while minimizing your stress.

What Advantages do Referrals Provide to Home Buyers? In a referral arrangement, the home buyers have the advantage of an additional advocate or resource throughout the sale process. This provides several benefits, including:

  • Your Realtor will prep the buyer agent for working with you and may even recommend initial properties to view. This will help ensure your preferences are understood upfront and streamline the property search process.
  • Your Realtor can review property and contractual details prior to placing an offer. This will typically be done only upon your request, but can provide you with extra assurance that the offer is in your best interest.
  • Your Realtor can step in if any issues or conflicts arise with your property purchase or buyer agent. This will help ensure the situation is mediated effectively while minimizing your stress.