A referral agent is someone who earns money referring customers or clients to a company or person who can meet their needs. A person who sells mobile homes, for example, may wish to secure more prospects interested in purchasing mobile homes. Working with an agent who refers prospects to him for a fee is one way he might accomplish this. A referral agent may be compensated for each reasonable prospect he refers in some cases, while others may be compensated each time the referral recipient makes a sale.
A referral agent’s responsibilities vary, but for many, the primary goal is to generate leads. This means they spend time looking for people who are interested in a specific service or product and referring them to companies or people who can meet their needs. Some agents, for example, work in the real estate industry, referring potential buyers to agents who can assist them.
A referral agent’s job often entails not only generating leads, but also locating people who are not only interested in buying property, goods, and services, but are also qualified to do so. For example, if the agent is tasked with generating leads for an adult-only community, he may screen potential residents to ensure they meet the community’s requirements. He may also want to make certain that the leads he generates are from people who are interested in adult-only communities and have the financial means to buy or rent property there.
The way a referral agent makes money can differ from one agent to the next. Some may be compensated for each lead they generate, while others may be required to refer a certain number of people in order to be compensated. To earn money, some people only need to generate quality leads, while others may need to generate leads that result in sales. Furthermore, some agents are not compensated based on the number of leads they generate. These individuals may be paid on an hourly basis or may even be paid a salary.
Depending on how a person plans to work, the requirements for becoming a referral agent may differ. Although no formal education or experience is required to start a referral business, sales ability may be advantageous. Some companies that hire these types of agents may prefer people with college degrees and sales experience. Real estate licenses are also required in some jurisdictions for real estate referral agents.