Hello everyone, if you are a member of Referral Exchange can you explain the process for membership? I want to know if there is a fee involved at any level. If so has anyone paid to become part of this referral group? I am told that I have a one time membership fee of $900.00

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  • I would pay $25.00 a year but no way not $900

  • I am a member of Referral Exchange. I think I joined for $350 last year. I referred out a deal that closed earlier this year. They have sent me referrals, none of which worked out or I rejected. Sometimes sellers already listed with an agent are sent. Other times, there were buyers with unrealistic budgets or I felt the referral fee was too high for the price range (one was 35%). I think its a good service. The person you are referring aren't just stuck with the one agent you refer, they get a choice. However, they weren't able to resurrect any dead leads I sent them from my database, which they claim they are experts at doing.

    Some agents might be more familiar with them as 'Agent Machine'.

    • Thank you Kevin, I will not pay them for referral and will not join them. If I will give them referrals and they will return the same in exchange why should I pay $900.00. I can work smarter and get all my referrals via all my sphere of influence. I do not need their membership.

      I will enroll with REOPro for Buyer Direct exchange for $25.00 

      • Yes, $900 is crazy, I wouldn't have paid that. I do know agents who regularly get good referrals through the site. I found it more effective than relying on recommendations for agents in different states from my office or through any Facebook referral group source.

  • Thank you Jesse, I felt it is very high demand from a group that wants to help you and take some money every time you get the referrals from them. They also take referrals from agents around the country paying agents 25% when the referred client gets a house. Why should agents pay $900.00 to become a member. I am surprised that no other agent has made comments regarding the Referral Exchange Group request to pay such a high fee to become a member.

    • I've never heard of the organization much less be willing to pay  $900 for it. The best referral network is the one you develop yourself. 

    • You may not be getting a lot of response from this network because this network is mostly REO / Distressed experts. More specifically, we have had years and years of these predatory "referral" programs and sort of learned our lessons. As such, I would suspect that many on this network aren't members of Referral Exchange and would likely echo my sentiments above. Again, people in the REO world have been dealing with this non-sense for years and most of us know to run for the hills when they come a knocking.

  • I understand the need for a one time membership fee but, essentially a 1,000.00 (One Thousand Dollar) membership fee screams of a company who is more concerned about making money off the backs of the agent than they do about making a referral off the commission earned. Keep in mind, these companies can't guarantee you business so, you could end up going a whole year with not a single referral or referrals that don't close. If you partner with anyone, partner with a company who is invested in your success and earns a referral fee upon successful closing. Now...with all that being said, I get it...one time or annual membership fees are necessary, we will have one on REOPro for our Buyer Direct referral program of $25.00 so....$900.00 seems too steep.

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