Strategies to generate referral deals with offline businesses. How to drive leads to them.
#1366828 by Debra from glade-park.com
Tue Mar 14, 2017 6:39 pm
I realize that it has been a while since the last post on this topic, but I suspect I am not the only one still struggling with these questions about finders fee(s) vs. commissions vs. flat fee, and how to keep them honest. This whole string (old thread: https://forums.sitesell.com/viewtopic.php?f=26&t=6611&start=0& ) has helped tremendously but I have one more concern that seems obvious, but is worth mentioning.

It brought to my mind the scene from an Indiana Jones movie where his adversary was brandishing a sword at him, and Indiana pulled out a gun and shot him.

If the contact form is the method for measuring the value of the business relationship, it would be necessary to avoid including the phone number of your referral partner. If that is available it could and probably would shoot right past the accountability of the form. And in the age of Googling, even the name of the partner's business could be googled for contact info if the potential referral was impatient with filling out a form.

This brings me back to the conclusion that taking a flat fee or pay per click and running with it is probably the most sensible way to go. But I am open to feedback if someone has better insight on this topic.

My particular interest is in monetizing real estate sales in my niche, which is land rich, and sparse in other businesses to monetize.
Last edited by Debs Seeber from Palm Coast on Wed Mar 15, 2017 9:55 pm, edited 2 times in total. Reason: Split off old thread so your post stands out which gives you a better chance of a "current" discussion. Added URL to the old thread also for reference purposes.
#1366964 by Debs from SiteSell
Thu Mar 16, 2017 3:39 pm
Hi Debra,

When I had my debt site, Finders/Referrers was one of the more lucrative monetization options I employed.

Unlike Travel, where you may get to know who you are dealing with, I dealt with people/companies far away from where I lived. I just had to trust them until I
couldn't. I did end up changing companies at one point thinking the rate of
referrals returned was too high. I changed and found it was a good change.

Of course it could have gone the other way too; then I would have just
returned to the original referrer (Never burn bridges behind you). I also
supplemented with other strategies including affiliate links, Adsense, etc.

You need to test options, and work from there, and trust until you can't.

All my best,
Debs
#1367915 by Debra from glade-park.com
Tue Mar 28, 2017 4:21 am
Thanks! I appreciate you sharing your experience.
#1367934 by Dee from Cape Cod
Tue Mar 28, 2017 3:15 pm
Hi Debra -

Referral fees/commissions are a big part of my monetization, too. Mainly for vacation rentals, but also for the occasional real estate sale.

I never put contact information for the rental property owner/agent or real estate agent on my site. Instead, I create a feature page about the for-rent or for-sale property on my site, and I place an FBI form on the page for the interested party to use when inquiring about the property. All inquiries that come in via the form come directly to me - not to the owner/agent.

Here's an example from my site:

[Domain Private]

When I receive an inquiry about the property, I contact the property owner/agent to let him/her know that I'm referring a potential customer. Then I contact the interested party and pass along the property owner/agent's contact information.

After a few days, I follow up with the owner/agent to see if he/she has heard from my referral ... and I follow up with the person I've referred to make sure he/she has connected with the owner/agent.

Doing it this way keeps me "in the loop", so I can tell pretty quickly if an owner/agent is playing games with me. :wink:

I've been handling my real estate referral/commission relationships this way for the last 3 or 4 years; and so far I've never been stiffed on a commission.

I hope this helps!

Best Regards,

Dee
#1367935 by Dee from Cape Cod
Tue Mar 28, 2017 3:27 pm
Hi again, Debra -

Just one more thing I thought of ...

I couldn't find an "About Me" page on your site. But perusing your SBI bio, I didn't find anything to indicate that you're licensed to sell real estate in CO.

The reason I mention this is because, in some (most?) states, a real estate broker cannot (legally) pay a referral fee or commission to someone who's not licensed to sell real estate in that state.

Depending on your situation and the laws in CO, a pay per click or flat fee advertising arrangement might be your only options.

Best Regards,

Dee
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