Referral coupon code - good idea? bad idea?

2 Replies

Hi everyone,

Wanted to get some feedback on an idea I was thinking about.

When I send out the letter to homeowners telling them that I buy houses I was also thinking about adding a line at the bottom saying that if they refer someone to me I will pay them $100 at closing and the person they refer to me will get $200 towards moving costs and then giving them a coupon code to give to that homeowner.

I'm wondering if anyone has tried this and whether it's a bad idea for some reason or if there is a better way of implementing it.

Thanks for your time

can't see that it would hurt! Give it a shot.

Question though, on what type of marketing would the code be connected two. Flyers, your website etc.

Would each code be specific to the marketing channel or per referer?

I was wondering about that myself :)

I'm only going to use the code on letters for now. But the code would be unique on each letter; letting me track the person and the actual marketing piece that got their attention.

I'm going to ask them to mention the code when calling me and then I can look it up on my spreadsheets

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.