Real Estate Referrals

[Austin Davis]

Hi there, 

First post to the site! Question for any agents out there. I recently got my Texas Real Estate License and been doing a lot of research on facebook marketing. Obviously a great way to get some business would be to incentivize my group of immediate friends with a couple 100 dollar referral fee for houses sold. Unfortunately TRELA and its ridiculous rule only allows up to a 50 dollar non-cash referral fee to non-licensed people. Does anyone know of any loopholes or ways around this small amount? I appreciate the help!

[Jim Cummings]

@Austin Davis. I believe the rule only allows you to claim up to $50.00 Non-Cash to non-licensed people. 

Rather than groveling with family & friends with small dollars, just let them know you are now a Licensed RE Agent, and you would cherish the opportunity to earn their business and referrals. Many will not feel comfortable with sending you business due to your inexperience - learn to live with it - everybody is new and unproven at some point. 

Create a Gift / Reward program, but don't condition it on the property closing. When they refer business to you - REWARD IMMEDIATELY! The person dong the referring has absolutely No control over what happens within the transaction. You want to create behaviors (the act of referring). Ring the bell - dog salivates - throw the treat type action.