ReferralExchange, a company that connects agents to both consumers and other agents, announced today that it has teamed up with the National Association of Realtors (NAR).
The new partnership will see ReferralExchange join NAR’s Realtor Benefits Program. The program provides NAR members with access to a variety of business services, and it includes partnerships with well-known firms such as Adwerx and DocuSign.
According to a statement, joining the program gives companies “an unmatched opportunity” to “connect with the $5 billion Realtor brand and deliver value to 1.4 million Realtors nationwide.”
The newly announced partnership will specifically give NAR members access to a ReferralExchange program dubbed “Live,” which vets agents’ leads. Live kicks in with agents’ raw leads, according to a statement, and uses the company’s software to quickly figure out which ones “are real and which are not.”
Once the real leads are confirmed, a ReferralExchange customer service representative calls the lead to gauge that person’s readiness to move forward with a real estate transaction. If they are ready, the lead is passed back to the agent who can choose whether or not to pursue it.
ReferralExchange’s statement notes that 16,000 U.S. real estate professionals currently use Live. The company normally charges users $995 to set up the service, but thanks to the new partnership NAR members will now only have to pay $395. Monthly fees are the same for NAR and non-NAR users — $95 per month plus $3 per lead — but the partnership does provide Realtors with an additional five free vetted leads per month.
Scott Olsen, the company’s CEO, added in the statement that “from the time our company was founded in 2006, we’ve valued the role that NAR has played in making our industry better for both real estate agents and consumers.”
“Since the majority of the 140,000 real estate agents in our broader agent network are already Realtors, we’re excited to officially offer our Live service through NAR’s Realtor Benefits Program,” Olsen said.
NAR CEO Bob Goldberg also expressed excitement about the new partnership.
“Today, real estate agents obtain leads from more places than ever before, but market inefficiencies too often lead our members in the wrong direction — costing valuable time and resources,” Goldberg said in a statement. “We are excited to announce a partnership with ReferralExchange, which will allow agents to focus more time serving clients and building the relationships necessary to drive their businesses while ensuring they are maximizing lead verification investments.”