Property Management Agent Referral Program

[Neda Navidnia]

Hi everyone, does anyone know ho does the agent referral program works in property management companies?

s this a one time fee or they pay monthly? and any other details they may have.

Thank you in advance.

[Craig Wilcox]

Great question @Neda Navidnia,

Our firm actually does not have a policy on agent referrals of property owners.  I would have no issue offering a one time referral fee for a new owner client that fits our business strategy (location and class of property).  

However, there are bigger benefits to the agent than a referral fee.  Our firm provides first-rate customer services to property owners.  These investors typically buy and/or sell multiple properties to grow and adjust their portfolios.  By referring your investor client to a top-tier property manager, your client is more likely to be satisfied with their investments and purchase more with your assistance.

In our case, we are also a real estate broker so we provide assurance that we will not take clients/business away from the referral agent.  We have sent long term pm clients back to their original buying agent for the sale of their investment.  It may work a lot differently in large metropolitan markets but in our community, our reputation of integrity is vital.  

With that in mind, before you refer a client to any property manager that will provide a referral fee or split a placement fee, make sure you trust them enough to take care of your client without taking them away.