I just read Peggy Chirico's post "I Don't Take Referrals!"and I must say, I'm amazed at how quickly many of the commenters there have jumped on an agent who chose not to accept a referral, calling him names without knowing his circumstances, all while claiming "I never turn down a referral!"
Is it possible that the agent in question has a business plan that he's committed to, that works for him, that doesn't include paying out referral fees?
Maybe he's got enough business that he's happy, and he's not interested in growing anymore?
I can tell you that personally I do take referrals, but I'm choosy. I only take the ones that actually stand to compensate me for my time and experience. I will not take referrals that end up draining my resources (time & money). I've had agents call me to refer an $80,000 listing, expecting a 40% referral fee. If I were to take such a referral, I'd spend more money to market that property than I would gross after the referral, broker split, and taxes. That's not even taking into account the time I'd have invested in getting it sold.
In the time I would've spent on that resource-drainer, I would instead work my client base and generat 2-3 other full-commission transactions.
I also recently had a local agent try to refer me a referral, if that makes any sense. By the time all was said and done, I would've ended up paying 2 referral fees, totaling 50% of the commission. Again, not worth my time.
Many facctors have to be considered when deciding whether or not to accept a referral; referral fee, sales price, how needy the client is, current market conditions, your hourly rate, etc.
When I was a new agent, without much already going on, I was much more willing to take on referrals, and when the market slows, I become more open to them as well. But when the market's cruising along well, and I have a pipeline full of full-commission clients, why would I take time away from them to make less working with someone else?
Any agent who's not taking these things into account, but instead just jumping up and yelling "YES" when they're asked if they'd like a referral, may need to re-think their business plan. Not ALL business is profitable business.
Many times, the referring agent may be well-intentioned, but actually harm the client by restricting the receiving agent with hefty referral fees. Personally, if it comes down to it, I'd rather not receive a fee and know that my client is getting a top-notch experience, than to take a referral fee and know that the receiving agent may not put forth as much effort, due to a minimized commission.
Report card time's always a little unnerving isn't it? Will I be at the top, the bottom, or somewhere around average? What grade do you think our great city would earn? Better question; would you be at all surprised to find out that Oklahoma City got an A+ and ranked first out of the Top 100 Metros? I know I'm not surprised, but somehow, some folks still seem to miss just how great we have it here. According to MetroTrends.org,
Metropolitan Oklahoma City’s diverse economy – including government, universities, energy, and high-tech firms -- has held up well in the Great Recession. It didn’t fall victim to the housing boom and bust (2000 to 2007), so rents and house prices today are remarkably affordable and few homeowners are facing foreclosure. And the region scores high on lots of “top ten” lists -- most affordable (Forbes), most recession-proof (Forbes), and best to start a small business (Fortune Small Business).
In Oklahoma, it's generally pretty easy to tell if your home is drafty, but even if you don't feel drafts, you could still be wasting energy.
Try this quick test: Close one of your outside doors on a sheet of paper. If the paper pulls out fairly easily and doesn't tear, you're likely losing energy. You can also use the old candle or lighter test. Move a lit candle around your doors and windows (be very careful not to burn yourself) and see if that flame flickers.
Either test works, but that's real money leaking out between those gaps, so hurry and do something about it! if you need contractor recommendations, let us know, or if you plan to do the work yourself, here are a few how-to tips:
According to a recent USATODAY.com article, Oklahoma City is the best place for former soldiers to find civilian careers. The article states, "as the Iraq War winds down by year's end, tens of thousands of servicemembers are expected to return home, and many will seek second careers amid a sluggish economy and 9% unemployment." That said, we're proud to see Oklahoma City recognized as the top place for these honored veterans to plant their feet when returning home:
Oklahoma City is the best place for military retirees to find work, according to a ranking of 379 metro areas by Military.com and USAA, a financial service provider to military personnel.
This home is perfect in every way, move-in ready, and better than new, with blinds, full fencing, and landscaping!
Located on a large corner lot, you'll have plenty of space to do as you please. Here are a few of the details:
4 Nice-sized Bedrooms
2 Full Bathrooms with upgraded tile
Large Eat-in Kitchen, which flows nicely with the living space
Pantry & Breakfast Bar
Large Covered-patios, front and back<!--more-->
2-car garage
Fenced Backyard
Additionally, the Castle Rock Community offers:
Close proximity to Hwy 4 & Hwy 152, providing quick access to anywhere in the city
Mustang Public Schools (Mustang Elementary, Mustang Middle School, Mustang High School)
LIST PRICE: $138,000 | MLS# 474145
Call 405.259.6565 or email us to schedule your private tour.
It's time for this month's ShowMeOKC W3! Have you been to Oklahoma City's Myriad Botanical Gardens lately? Do you have plans for New Years Eve?
Even though it's winter and the greens aren't green right now, if you answered "no" to either of the above, you've gotta check this out (go fullscreen to get the HD vibe):
It may seem like a no-brainer, but when it's cold outside, your hot water heater has to work harder to heat your water. It also has to re-heat it more often, but did you know that you may be able to boost your water heater's efficiency by simply wrapping it in a thermal blanket?
Here's the beauty; Thermal blankets are relatively inexpensive and can be purchased at most hardware stores. Check out this great little how-to video to learn more:
The ShowMeOKC Team is passionate about helping you discover your surroundings from Yukon to Choctaw, Edmond to Moore, and everywhere in between. Serving your Real Estate needs is our business, and encouraging you to maximize life in the metro is our passion.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.