Above all else, My Referral Agent is a platform that encourages careful consideration of how buyers and sellers are managed. The system is designed for its members to own who they are and only on those merits will they be judged against their peers when it comes to earning a referral. That’s fair, smart business. After all, we’re all judged by who we associate with.

  • My Referral Agent is a new-age referral platform that encourages careful consideration of how buyers and sellers are managed.
  • Personal data is a highly valuable commodity today, and clients should have no problem with how their information and needs are exchanged on this technology.
  • The system is designed for its members to own who they are and only on those merits will they be judged against their peers when it comes to earning a referral.
  • To encourage adoption, the company is offering to waive annual fees for every new member a current member refers.

Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.

My Referral Agent is a client referral exchange and management platform.

Platform(s): Browser-based; mobile optimized for iOS, Android
Ideal for: Any size team and individual agents

Top selling points

  • Careful tracking of deal handling
  • Requires only annual fee, takes no stake in commission
  • Highly engaging interface

Top concerns

  • Document automation lacking
  • Referral agreements could be point of contention

What you should know

Between My Referral Agent (currently in beta testing) and a couple of competitors, the way you used to refer buyers and sellers is officially over.

Above all else, Austin, Texas-based My Referral Agent is a platform that encourages careful consideration of how buyers and sellers are managed.

If I was a buyer being referred via this software, I’d have no problem with how my information and needs were exchanged. Remember, personal data is a highly valuable commodity today.

Every new member is first verified for licensure.

MyReferralAgent_Selection

However, everyone is also asked to provide a detailed transaction history and upload documentation to support it. The intent is to encourage unquestioned transparency, the only way to ensure that each consumer being traded is done so with care and commitment.

Applicants are also asked for specialties, and you’re not allowed to assert that you “Specialize in all of Manhattan.” It has to be proven and specific.

The software hides names from agent-for-agent testimonials to deter knowledge of who’s referring who.

Moreover, My Referral Agent doesn’t allow members to pay or in any way lockdown a geographic specialty. It’s pure apples-to-apples. Are you a proven agent or aren’t you?

That’s not to say its developers aren’t open to less-experienced agents becoming members. Not at all.

MyReferralAgent_Referral-in-Progress

Ultimately, the system is designed for its members to own who they are and only on those merits will they be judged against their peers when it comes to earning a referral.

That’s fair, smart business. After all, we’re all judged by who we associate with.

That’s not to say its developers aren’t open to less-experienced agents becoming members.

Each new registered agent is authenticated by hand.

When a referring agent inputs a customer’s needs, My Referral Agent selects a handful of potential matches. Only four of those can be compared side-by-side for final selection.

Both sides of the transaction are empowered to track each step of the process through a timeline view that highlights milestones and drives attention to steps and tasks. There’s a notification system for each side as the deal progresses.

If a referral doesn’t pan out, the individual will remain in the system, and both the sending and accepting agent are subject to earning their commission per the agreement should the contact become active again.

I think the manual exchange of documents could progress, but deals with electronic document partners are being examined.

The software looks great. The UX and UI are ready.

There is a referral fee slider mechanism that provides a great deal of freedom for the referring agent to set the fee.

In terms of software design, I think it could encourage fee inflation, impacting an agent’s ability to find a matching colleague. Perhaps radio buttons with common percentages based on a market’s standards could help.

MyReferral_Interview-Selected-Candidates

Again, My Referral Agent is still in beta, so these minor issues have time to be fixed.

The software looks great. The user experience and user interface are ready.

To encourage adoption, the company is offering to waive annual fees for every new member a current member refers.

See? It’s all about who you know.

Check out the website.

Have a technology product you would like to discuss? Email Craig Rowe.

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