When you’re a new real estate agent, the first and most important task that you need to jump into is finding leads who will become your clients and work with you to buy or sell their homes. However, getting leads is easier said than done, which is why there are several “pay at closing” lead companies for real estate agents.
The basic idea behind a “pay at closing” lead company is that you’ll use the company to find and connect with leads—usually, they’ll connect you to the leads directly. Then, you’ll pay them a percentage as a referral fee once you’ve closed the transaction.
There are lots of “pay at closing” lead companies out there, but not all are created equal. Here are the top 5 “pay at closing” lead companies for real estate agents that I recommend check out.
1. Realtor.com® or Opcity
Initially known as Opcity, realtor.com® is a fantastic place to find leads. The company pre-screens leads and then provides an avenue for agents to connect with those leads over their platform.
Realtor.com® claims to help agents increase their online lead conversion rate by 3% to 5%! While this may not look like a big number, every lead truly counts in real estate. You can imagine how useful it is to work with a lead-generating company!
The Connections Plus product will help you connect with leads and keep in touch with them throughout the remainder of the transaction. It will even allow you to keep track of all past communication to ensure that you never miss a beat when engaging with your clients.
The referral fee you’ll be charged depends on a variety of factors, such as your level, broker level, etc.
2. UpNest
UpNest is a platform designed to connect buyers and sellers as smoothly as possible. You can create a stunning agent profile and UpNest will use that to help buyers and sellers find and connect with you.
Once you connect with a client, you’ll have access to a personal advisor from the company if you need help. And all you have to pay for leads from UpNest is a small referral fee upon closing—the fee varies.
Keep in mind that, while you can join for free, UpNest has a few requirements for agents:
- You must have a minimum of 3 years of practicing real estate with at least 6 transactions in the past 12 months and an active license.
- You must have excellent communication skills.
- You must demonstrate market knowledge and expertise and have a good grasp of online marketing techniques.
- You must be tech-savvy.
- You must be the recipient of positive online reviews.
If you meet these requirements, signing up for an UpNest account is easy and effective.
3. Estately
Estately’s process is simple and straightforward. They only work with a handful of the most qualified agents in the business, so you can only apply if you have at least 3 (preferably 5) years of experience, can provide references from past clients, and are willing to accept any type of feedback you receive after a referral-based transaction.
Once you’re signed up, Estately connects you with clients who are already interested in working with you. The company matches you up with clients based on past reviews of you and your work, so you’ll always be motivated to do your best.
Estately doesn’t specify how much the referral fee will be, simply that you’ll have to pay with a percentage of the commission you earned from a client you found with Estately.
4. HomeLight
HomeLight offers a referral service for agents by using a sophisticated algorithm to match your profile to a qualified referral client who is serious and ready to buy or sell. Once you connect with the lead, it’s your job to maintain contact and deliver “outstanding service.”
If you keep up with clients and provide great service, you’ll get more leads based on your performance. To get started, you simply create a profile, highlight your skills and experience, and sign a referral agreement. At each transaction you close, you’ll pay a 25% fee to HomeLight for their referral.
5. Clever
Clever is dedicated to working with agents who are in it to grow their business. If you’re not ready to ensure the success of the leads they send your way and build your own career in the process, Clever won’t be the right fit for you. To qualify, you must:
- Have over 5 years of real estate experience.
- Have great reviews from past transactions.
- Have extensive market knowledge and negotiation savvy.
- Have a love for technology that enhances your efficiency.
Instead of paying for marketing, Clever helps you by allowing you to set a lower commission and thus attract more business. They’ll send you great referrals to start with and as long as you consistently get good reviews, you’ll get more business.
As of this writing, there are two ways to pay Clever for referrals. On homes that are less than $350,00, you’ll have to pay a $3,000 flat fee. On homes priced more than that, you’ll pay 1% of the listing fee.
The Top Lead Companies for Real Estate Agents
So, there you have it! These are the top 5 lead companies for real estate agents that allow you to pay at closing. If you’re looking for a way to streamline your search for referrals and get more business for less effort, choose one of these great options. Then, just provide your clients with great service and you’ll be growing your business exponentially in no time!
Now if you are in search of real estate leads without having to pay a split on them, check out our partnership.