Generating leads for other fellow agents - thoughts?

Question

I am a licensed agent. If I develop a sales funnel that works incredibly well at pre-screening and qualifying only sales listing leads, would it make sense to focus on generating these leads (locally first but then maybe regionally) and passing them on to other agents to follow through and close, simply sharing the commission, agreeably, in exchange? Is this a common strategy of some agents? What would an agent think if I continually brought leads to them but rarely worked my own deals? Would they view it negatively or would they welcome the leads? I am taking an 'ROI on Time' perspective on this.

Account Closed · Answer

@Nathan G. Thanks for the feedback!

Account Closed · Answer

@Russell Brazil You are correct - there are a good amount of lead generating companies out there. However, as an agent myself, I would only be working with agents under the umbrella of our parent company - keeping the leads in-house - as anything otherwise may be viewed as a conflict of interest.

Joaquin Camarasa · Answer

Hi James,

I think it can be a great idea. It is difficult to have an efficient system at the beginning but if you have agents that you can trust and they deliver a good service, I believe it will be worth it. Personally, as a real estate agent, I would love to work with somebody like you. I think other agents would love it as well.

What company are you working with? I am in a similar situation I have friends all over the USA and starting a trusted referral system sounds awesome. I know is gonna take a lot of time and a lot of trial and error but eventually I hope to get there.

Marvin Hernandez · Answer

Hi James,

This is very bright idea. this is one that I have thought of doing my self, if you can produce consistently and pre-screen these leads you will be love by agents once you hand them off to them, one because like you said, it is all about ROI (time + money) to obtain these leads, and for an agent time is so valuable, plus they only have to paid you once it is closed not up front. One way is that I was thinking on doing this is to contact for sale by owners, Expireds, Old expireds, Out of town owners and landlords. If you can stream line this, it of course can be done! Most of the work have to come in the forefront, of course you have to have quality leads and that means you have to be really good in pre screening them, these have to be Hot, or warm, not likely cold, but cold you can follow up on and then once they are warm, pass them on.

I know a poster have said that there are many companies already doing this, but they just use an algorithm and sale you leads that most of the time are no good, and it takes time to pre screen them. Why, I also thought of doing is, partner with real estate agents, say about 3 good ones, who won't drop the ball, remember, you have to have a good reputation and you are still tied to the deal, so make sure to pre-screen the agents your feeding the leads to, and I recommend 2 or 3, because ideally you will be sending loads of deals and sometime you can forget who you send them to etc...And also, I recommend you hit the agents that you are sending leads to and follow up to make sure they are doing what they are supposed to.

Hit me up, we can bounce ideas of each other.

Nathan Gesner · Answer

One of the most difficult aspects of this job is procuring leads. People pay computer algorithms like Zillow for leads. What you're suggesting would produce better leads and the agent would only have to pay for that lead upon successfully closing the transaction. I think it's a good business model if you can pull it off.

Russell Brazil · Answer

There are already tons of companies that have this same business structure.

John Meza · Answer

Hello James, Interesting topic. I would like to J.V. with in closing on those pre-screened and qualifying only sales leads you get from your sales funnel. I would like to discuss the possibility of working together. I run a real estate business in Chicago. Your source for lead generation is vital for any business that thrives on leads.