Too Many Leads!!

**BSS2T** · 03-12-2007, 01:37 PM

Guys I'm about to have more than I can handle. Right now I get about 120 buyer leads monthly via the internet. That number is about to kick up to about 5-600 monthly, in about a 60 mile radius of where I am. I am not familiar with a couple of the areas that the leads will be coming from.
I was going to just charge other agents a referral fee.

What do you guys think is fair as far as referral fees for hot leads i.e. buy within the next month.

**REbuyersgroup** · 03-12-2007, 05:08 PM

Find a select agent in the areas where the leads are coming from and establish a referral agreement where you get a percentage of the deals referred and closed.

It is very easy to track since you have the names and the broker has to keep records. if you have a referral agreement, it has to be honored by the broker.

Most of us are pretty ethical, and if we have a good source of decent leads, there is not reason we would stop the gravy train. I have no problem paying 25% of the commission to another agents referrals.

Anyone else have some ideas?

**clarkj90** · 03-12-2007, 06:44 PM

Can you please explain the source of you many leads. I need help generating leads.

Originally Posted by BSS2T

Guys I'm about to have more than I can handle. Right now I get about 120 buyer leads monthly via the internet. That number is about to kick up to about 5-600 monthly, in about a 60 mile radius of where I am. I am not familiar with a couple of the areas that the leads will be coming from.
I was going to just charge other agents a referral fee.

What do you guys think is fair as far as referral fees for hot leads i.e. buy within the next month.

**Codythebest** · 03-12-2007, 08:03 PM

25% is average referal fee.
But geezzz...500-600 leads??
I don't know how you get that but if I was in your position, I'd hired licensed assistants and get them all...

**BSS2T** · 03-12-2007, 08:36 PM

If you want to know how I do it then contact me personally via phone. I do not want people in my market knowing what I am doing, and I'm sure there are a few lurking around here somewhere.

I was thinking about licensed assistants but that brings up a whole different area entirely. Should I pay on salary, hourly, per sale?

**Codythebest** · 03-12-2007, 08:43 PM

You just throw a red flag right there. Are you a licensed Real Estate agent yourself?

**stock_post** · 03-12-2007, 09:06 PM

looks some kind of bull** to me.

I was thinking about licensed assistants but that brings up a whole different area entirely. Should I pay on salary, hourly, per sale?

If are an agent you would know, if you hire agents hourly etc.

Thanks for the joke.

Thanks

**BSS2T** · 03-13-2007, 11:21 AM

No I've been in the business two years now. I wasn't sure that if I hired someone just in the business if they would rather be paid per closing or by the hour.

**Merkaba** · 03-15-2007, 04:02 AM

Then you Need to read this book immediately!!!: The Millionaire Real Estate Agent by Gary Keller ( of keller williams)

**Codythebest** · 03-15-2007, 03:17 PM

Originally Posted by BSS2T

No I've been in the business two years now. I wasn't sure that if I hired someone just in the business if they would rather be paid per closing or by the hour.

Well, the red flag comes right at the salary sentence.
If you pass the exam, i.e. some courses, you know how to pay assistants, licensed or unlicensed. That's all...
An agent with your number of leads, therefore business and closings, knows the answer...
I doubt now that you are RE licensed...
I have a FL and TN license and it's the same story both states, so I guess it's same (or so) nationwide...