5 Best Referral Programs for Real Estate Agents with No Upfront Cost (Pay Per Closing Leads)

Real Estate Bees’ editorial team asked a number of industry-leading real estate agents and brokers to share their expertise on the top real estate referral companies to help our readers make a more educated decision when looking for available services.

With the help of the experts, we identified the best real estate referral service companies for realtors and evaluated their features and pricing information. Visiting retailers of the listed products by clicking links within our content may earn us commissions from your purchases, but we never receive any compensation for the inclusion of products and/or services in our consumer guides. Read our editorial guidelines to learn more about our review and rating process.

— Kimberly Anderson, Senior Creative Editor at Real Estate Bees

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SOLD.com matches home sellers and buyers with the most proficient real estate agents to help them accomplish their housing goals.

This pay at closing real estate referral service was founded in 2018, and it boasts of matching over 75,000 home sellers and buyers with agents.

Apart from matching home sellers and buyers, this company offers a proprietary recommendation engine and educational resources for home sellers.

How It Works

SOLD.com is an educational resource for homeowners seeking to sell their homes.

The company uses a performance-based referral model, which means that agents and real estate companies earn more opportunities as they demonstrate their effectiveness.

When agents register with the company, they will receive a referral agreement outlining the terms of the partnership.

They can also choose to participate in the Guaranteed Display program, a paid program that boosts your local market presence on SOLD.com.

Plans and Pricing

SOLD.com is free to join for realtors. The platform charges agents a referral fee of 30 percent of the commission agents receive.

For example, if an agent receives 6 percent of the home sale price as commission, SOLD.com will charge 30 percent of that commission as a referral fee.

SOLD.com also offers a guaranteed display plan for $30 per month per zip code. This plan allows agents to show up 100% of the time in client searches related to any zip code they serve.

Agents with this plan also enjoy a featured badge on their profile.

Pros and Cons

Pros

• Easy sign up process. Sign up is as simple as filling out a form and answering a few questions.
• Leads are qualified before being passed on to agents. They have a concierge team that qualifies real estate referral leads and sets appointments.

Cons

• High commissions. The 30 percent commission the company charges agents is relatively high.
• No agent vetting process. SOLD.com does not have a vetting process for agents that register on the website.
• Lead routing is based on performance. Agents that have a solid track record of turning leads into clients will receive more leads.
• Lots of dead-end leads. There have been a number of complaints from customers about the quality of leads provided by SOLD.com.

Integrations

• HomeAdvisor
• Revive
• Mailgun
• Etherpad

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HomeLight is a real estate website that allows home sellers and buyers to partner with local real estate agents.

This platform makes it easy for anyone to sell or buy a house by matching them with agents in their area.

Founded in 2012, the company has over 118,000 agents and over 1.2 million clients across all major cities in the United States.

It is also ranked among the top 7% of the fastest growing companies in America according to Inc.com.

Homelight integrates with a number of other tools, including Chime, one of the best real estate broker software tools.

We reviewed this service in our detailed HomeLight leads review. But for a brief overview, keep reading below.

How It Works

HomeLight offers two lead matching services:

1. HomeLight Referrals for real estate agents, which allows them to take advantage of HomeLight’s network of home selling and buying clients
2. HomeLight Convert, which helps agents convert their existing leads into clients.

HomeLight Referrals uses an algorithm to match you with serious, qualified prospects who are looking to buy or sell.

The company verifies them ahead of time so you don’t waste your time. Agencies pay a broker-to-broker fee only when the deal closes successfully.

HomeLight’s client matching system is performance-based. Agents who respond quickly and deliver outstanding service will find more success with HomeLight’s platform.

Real estate agents can highlight their credentials on their HomeLight profile, including any awards or certifications they have and any past transactions they have completed.

You can also manage your HomeLight realtor referrals on the go with the mobile app for Android and iOS.

HomeLight Convert is a lead qualification platform that identifies, screens, and qualifies leads from any source, connecting your real estate team with pre-qualified home buyers and sellers.

Similar to the real estate client referral program, there are no upfront costs. You pay a broker-to-broker referral fee only when the transaction closes.

Plans and Pricing

This platform is free to use, but agents will have to pay 25% of their commission back to HomeLight.

The referral fee rises to 33% for properties worth more than $4 million. This fee is usually due 10 days after closing.

Pros and Cons

Pros

• Unbiased recommendations. Since agents’ recommendations are based on algorithms, you don’t have to worry about their recommendation process being biased.
• Leads are verified. The algorithm matches you with serious individuals who are ready to sell or buy a home so you don’t have to waste time verifying leads.
• Access to HomeLight HLM. As a HomeLight agent, you’ll have access to the HomeLight Listing Management tool. This tool allows agents to securely collaborate and track home offers online.
• Mobile app. The HomeLight mobile app helps you qualify leads on the go. It gives you notifications whenever you receive a new lead.

Cons

• The algorithm isn’t perfect. While the algorithm is generally effective, it can be improved. In high-density cities, sellers and buyers can be matched with experienced realtors in these areas. But in smaller suburbs near large cities, sellers may still be matched with big city realtors instead of local realtors.
• No cost savings for buyers and sellers. There are no special offers or reduced commissions for buyers or sellers.
• HomeLight has a cash offer program. HomeLight’s Simple Sale program allows homeowners to sell their homes directly to HomeLight for cash. This may present a conflict of interest for realtors, who earn a commission when they facilitate a sale.

Integrations

• Chime
• Google Analytics
• Follow Up Boss
• Yelp
• EasyKnock

As the name implies, ReferralExchange is a referral network for real estate agents, matching them with potential clients.

The platform uses cutting-edge matching technology to find the appropriate agent for each customer.

This is a sister company to AgentMachine, which has helped sell over $1.6 billion in real estate.

Agents can use this platform to pass on leads they do not wish to follow or pursue and get paid when another agent closes the deal.

How It Works

This company makes it easy for real estate agents to get the most valuable buyer and seller leads.

All you have to do is sign up, forward your leads to the platform, and let their technology do the rest.

It will then scrub through your leads and show you which ones are verified and more qualified. You can choose whether or not to follow up on these leads.

If you choose not to follow up on scrubbed leads, you may refer them to other agents in your network.

These leads are matched with agents who fit their requirements and you will receive a 15% referral fee once the agent closes the deal.

This platform has technology that makes every stage from vetting leads to closing deals relatively easy.

We also described this service in more detail in our ReferralExchange review.

Plans and Pricing

To get started on this platform, you need to pay a one-time fee of $995. This includes 50 free lead verifications and a lifetime personal referral network.

You also pay $95 per month to maintain your contact team and $3 per lead verification.

Pros and Cons

Pros

• Large network of agents. This platform gives you access to a large network of agents who can receive and exchange deals with you.
• Verified leads. The leads you get on this platform are more trustworthy and likely to result in a closing.
• Pass on leads. When you don’t want to follow up on a lead, you can easily pass it on to another agent.

Cons

• High fees. The one time fee of $995 is relatively high.
• Competition. As an agent, you compete with 2 to 3 other agents for the leads given to you.
• Inability to check address before accepting leads. Before accepting a lead, it is impossible to check the address of the property. The $3 lead fee must still be paid even if you are not satisfied with the property after accepting the lead.
• Lead reciprocity. The platform may not send you any leads until you send one too, even after making payments.

Integrations

• Chime
• Zapier
• Zurple
• Google Analytics
• HTML5
• Agent Legend

Clever is an online service that pairs real estate agents with consumers looking to buy or sell a home.

The company helps sellers and buyers find someone who they believe is the best fit to assist them with their home sale or purchase.

Sellers get to pay just 1.5% in seller agent commissions and buyers get cash back after closing.

The company was founded in 2017 and has helped its clients save over $140 million in real estate fees.

How It Works

Clever offers referral based real estate leads to vetted agents. To register as an agent, simply go to their website and sign up for an agent account.

You will be required to fill in certain details such as your full name, phone number, email address, real estate brokerage, and sales per year.

Once you fill in and submit the details, a Clever representative will reach out to you within 24 hours.

To enhance your profile and ratings, Clever requires five years of experience and positive reviews of past deals you closed.

They also require that you have extensive local market knowledge and exemplary real estate negotiation skills.

You can learn more by reading our dedicated Clever Real Estate leads referral program review.

Plans and Pricing

Clever charges agents 25% to 40% of their commission as a service fee. The company also collects a $3,000 or 1.5% listing fee from home sellers to list their homes with top agents.

Pros and Cons

Pros

• High-quality customer service. Clever is one of a few agent matching services that requires its concierges to be real estate agents.
• Solid agent vetting process. They carefully screen agents and only work with those who have proven track records in terms of sales, years of experience, and positive customer feedback.
• Home clients get rebates. Clever offers home-selling clients a reduced commission rate, which helps it attract more seller clients. Sellers pay 4-4.5% rather than 5%-6% in commission fees. That is 1.5% for the seller agent, and 2.5%-3% for the buyer agent.

Cons

• Low commissions. Clever offers low commissions to seller agents, at 1.5%, which is significantly lower than other platforms. This may result in agents selling homes below market value.
• Hidden costs. There are some undisclosed hidden costs that sellers may be required to pay at closing.

Integrations

No known third-party integrations.

With Zillow Flex, agents can get leads from Zillow for free without having to pay an upfront fee.

Although this real estate broker referral program is similar to Premier Agent, the major difference is that Flex allows you to pay for the lead after closing the deal and not before.

Zillow itself is one of the best referral partners for realtors, with a brand name that people trust.

The Zillow Flex real estate agent referral program rides on Zillow’s popularity. The program charges 35% of realtor commissions for connecting them with buyers and sellers and featuring their agent bio, contact information, and profile picture on Zillow.

We described this program in more detail in our Zillow Flex review.

How It Works

Zillow Flex helps connect homeowners with real estate agents. When a homeowner submits a request for a house sale or purchase, the company matches the homeowner with an agent who will help close the deal.

This program is available only to high-performing real estate agents in certain markets across the state.

It’s strictly by invitation. To be eligible for this program, you must be a member of the Zillow Premier Agent Program.

In addition, you must get written permission from your broker agency to use third-party real estate lead generation services.

Plans and Pricing

This company has a commission structure that is very different from most other companies.

They charge 35% of the commission you receive when you close the deal, but this rate varies depending on the zip code and transaction cost.

There are two modes of payment for this fee: paying through a title company or paying Zillow directly after closing the deal.

Pros and Cons

Pros

• Agents get more exposure. Zillow is one of the biggest players in the real estate industry and agents who work with this lead generator for realtors get more brand exposure.
• Agents only pay for the leads they close. You do not have to pay any fees if you do not close the deal.

Cons

• Limited access. Premier Agents are the only ones eligible for this program, which is strictly by invitation.
• High referral fees. A 35 percent referral fee for leads is a bit high.
• No guarantee of quality leads. Even if you are invited to the program, there is no guarantee that you will get steady or regular leads. Agents must work through many dead-end leads to find the right ones.

Integrations

• Mailchimp
• Zapier
• HubSpot
• Follow Up Boss
• ActiveCampaign

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About the Author

Kristina Morales is both a licensed mortgage loan originator and real estate agent in the State of Ohio. Inspired by her years of working with buyers and sellers and seeing a need for more consumer education, Kristina created loanfully.com, an online educational resource for borrowers and industry professionals. In addition to real estate sales and mortgage lending, Kristina had an extensive corporate career in banking, treasury, and corporate finance. She ended her corporate career as an Assistant Treasurer at a publicly traded oil & gas company in Houston, TX. Kristina obtained her MBA from the Weatherhead School of Management at Case Western Reserve University and her B.A in Business Management from Ursuline College.