What do you do with leads/opportunities that come your way that are outside your normal working area? Now, sometimes they're within a reasonable distance and it makes sense for you to take care of them.
What I'm referring (no pun intended) to is those opportunities that are NOT within a reasonable distance of your working area. Sometimes it can even be in another state.
Whatever the case, if you're not referring these leads to other agents you're missing out on the easiest money you can make in real estate...referrals. You may not know an agent in those extended areas, but the internet has made it very easy to find them, contact them, and refer leads to them. The industry standard referral fee is 25% of the commission collected, which you would receive when that agent closes the deal. I've been hearing a lot about cross-country referrals, which are becoming more common thanks to networking forums like ActiveRain.
I did a quick video to show you how easy it is to find agents in ANY area using Realtor.com. Now there are other ways you can do it, but this is a quick and easy way to get a list of agents with their credentials, contact information and links to their sites:
As you look up agents to refer leads to, think about what you're looking for...and remember that today's buyers and sellers are doing the exact same thing when they're looking YOU up.