Baron Briefs

Imagine you have a client who is moving to Dallas. You have the listing in California but the client has not yet made a connection with a buyer’s agent. The client asks for a referral, but you don’t have any contacts in Dallas. You want to ensure your client is handled properly, but you also want to fully monetize a client referral that will almost certainly result in a sale for the buyer agent. A ReferralAuction™ can help you achieve both objectives. Here’s the play call:

#1 - The auction opens bidding at 0%, but the “Reserve Bid” ensures a bid of 20% is received before the client’s contact information is revealed to a buyer’s agent. If the auction ends with a bid less than 20%, your identity and that of your client remains hidden from any potential buyer’s agent.

#2 - Assuming the “Reserve Bid” is satisfied, the “Stop Bid” ensures bidding doesn’t exceed your idea of “fair value”. When bidding reaches the “Stop Bid” amount, the referral auction immediately closes and the referral is awarded to the highest bidder.

#3 - The “Minimum AgentRank™” guarantees bidding is available only to agents who have a proven history of closing sales and pleasing clients. In the scenario above, only agents with a ranking of 8 or above are allowed to bid for your client referral.

Any questions?

Tags: agentrank, realestate, realtor, realtors, realtybaron, referral, referrals

This entry was posted on Friday, May 2nd, 2008 at 7:14 am and is filed under referral. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.