Real estate is a realtionship driven business. Yet, often we work in a transactional nature to get one deal done. Having partners we can trust and rely upon is critical to build long term relationships and create lifetime value for our clients. Referral Tap’s concept builds upon trust, reliability, and proven experiences we can duplicate to drive client satisfaction.
A referral partnership is sometimes confused with a traditional referral or affiliate program. Although all three aim to bring new clients to a business, they go about it differently.
A traditional referral program rewards your current clients for inviting their friends and family to try your products and services. In return, the referring client usually receives a reward, such as a discount or a free item.
In a referral affiliate program, a non-customer is referring prospective clients to your business. The affiliate typically does this by sharing your links or posting ads to your business online, in return for being paid when someone clicks on the link or signs up.
A referral partner has a closer relationship with the business than this. The referral partner gets to know the business. They only refer people they believe are a good fit for the business and usually put in a good word for the company when making the referral. Oftentimes, the referral partner is in an adjacent industry or serves the same audience. For example, a home inspector who develop referral partnerships with trades and home services companies.
Often, the referring partner receives a fee or other consideration for making the referral when business is won. Rather than what might be perceived as kickbacks or financial compensation for a direct referral which can serve as a significant concern with regards to ethics, we simplified a direct marketing and referral program with a local trusted preference.