In the world of real estate, reaching customers after a transaction can be a challenge. However, there are several providers who offer post-transaction customer access as a service. While not all providers offer this service for free, it can be a valuable tool to connect with potential real estate customers. In this article, we will explore how post-transaction customer access works and analyze eleven providers who offer this service. We have analyzed hundreds of reviews from brokers across various platforms to bring you the most reliable information. So let's dive in and discover the risks and benefits of using these real estate customer sources, and when you should and shouldn't use them.
How Does Post-Transaction Customer Access Work?
It's quite simple. Some providers in the market offer real estate customers that you don't have to pay for upfront. You only pay when you successfully close a deal with a specific customer. Afterwards, you will have to pay the provider a referral fee ranging from 25% to 50% of the total commission you earned. Some providers offer exclusive customers, while others do not. Depending on the uniqueness and quality of the customers they provide, providers may be selective and not accept any real estate expert as their customer. They may also impose certain conditions for using their customers. For example, they may require you to pay the referral fee multiple times. This occurs when a referred customer becomes a loyal customer. So, in reality, you do not "own" the customers you receive. It's interesting to note that the real estate customers you have to pay when you close a transaction are essentially real estate referrals. This is done systematically by a single company rather than multiple partners with different brokers or real estate experts.
Now, let's take a closer look at the providers of post-transaction real estate customers.
11 Post-Transaction Real Estate Customer Providers
In this section, I will introduce you to the eleven providers who offer post-transaction real estate customers. I have analyzed hundreds of reviews from users to continue analyzing the performance of the providers, and I have used the following platforms:
- G2
- Bigger Pockets
- Google Play Store
- Apple's App Store
- Yelp
- Better Business Bureau
- ShopperApproved
Why did I use these platforms? To base the strengths and weaknesses of each provider objectively on a large sample of data, rather than just relying on my personal reviews.
1) Opcity Real Estate Leads, Now Realtor.com
Opcity is now owned by Realtor.com. The customer generation services they provide primarily target real estate brokers. They offer a "ReadyConnect Concierge" product for pre-screening real estate customers that you don't have to pay upfront for. The service works as follows:
- Realtor.com pre-screens sellers and buyers over the phone. They contact these customers within seconds and verify pricing, buying intention, and location.
- Match and notify suitable brokers to connect with specific customers.
- Real estate brokers can directly contact the customers through the phone.
The next customer generation service is "ReadyConnect Lead Accelerator." It works similarly to "ReadyConnect Concierge", so using two different names for the same product can be a bit confusing. However, this service offers post-transaction real estate customers. However, only new agents can access these services through specific brokers they are working with. This brings us to the topic of fees. Realtor.com does not disclose the exact fee amounts after you successfully close a deal with one of their customers on their website. The only information I found about the fee amounts is on this page. Here, they often ask interested customers to forward fee-related questions to their brokers. Referral agreements are also made on an agent level. The fees seem to vary depending on different factors, as stated on Realtor's website: "These fees are determined on an agent level and vary based on a range of factors, including any advertising introductions we may be testing in a specific market." "Fees for introductions are determined on an agent level and vary based on a range of factors including, but not limited to, our investments in technology and manpower to purchase, screen, and match our online customers."
2) Zillow Flex
Zillow Flex is another post-transaction real estate customer service. It operates in only selected markets such as Pueblo, CO; Fort Collins, CO; Norwich, CT; New Haven, CT; Phoenix, AZ; and Atlanta, GA. You can use this service either as a Zillow Premier Agent or as a broker's customer. If you are not a Premier Agent, you can join the waitlist. Zillow calls it an "interest list." As a broker using this service, you have to notify Zillow about the progress of your deal. After successfully closing a deal, you have to pay a standard referral fee of 20% to 35% (source). This percentage depends on the transaction price in the state that you are doing business in. Zillow tracks the success rate of the customers they provide to you. They mention this on their FAQ page. How? A broker or agent with a high success rate will receive more customers from a specific market. Before sending you a new customer, Zillow verifies the potential customer. They also check if they are willing to work with a broker. According to Zillow's FAQ as of 2023, you can only join Flex by invitation. The website makes it clear that they are looking for high-performing partners. However, they do not provide specific performance metrics they expect on this page. The only thing that Zillow does is on their compliance page here. And you can find it under "Opting Out." They will remove you from the program if you do not have a 30% reply rate and a 60% appointment rate in the past three months. So, it may be safe to assume that you also need these rates to receive an invitation to join. You can learn more about Zillow Flex here.
3) HomeLight
HomeLight is the next provider. They provide more details on becoming a real estate broker receiving customers. They analyze millions of transactions (27 million) and thousands of reviews to find the best brokers for their buying customers. An accurate matching algorithm finds the right fit between a broker and a potential customer based on various performance indicators and data, such as:
- Through your annual transaction volume
- Average days on the market (related to the property)
- Based on historical transactions, price classifications, property types, and geographic expertise
- Overall success rate with HomeLight customers
- The relationship between average sale price and average list price
- Past client reviews
- Your response time to customers referred by HomeLight
So, the better these indicators are, the more potential customers you can get from HomeLight. When you close a deal with a potential customer from HomeLight, you have to pay a standard referral fee from broker to broker. It's 33% of the gross commission, which is 16.5%. This referral fee can be triggered within three years from the referral date. It also covers multiple transactions. You can learn more about HomeLight here.
4) AgentHarvest
AgentHarvest focuses more on a list-based referral. More than 60% fall under this category, and these are single-family listings in 95% of cases. Furthermore, most of these referred customers want to work with a broker and not just use them for information gathering. The referral fee is similar to other providers mentioned above. It's 25% of the gross commission, payable when closing and no other upfront fees are required. AgentHarvest only works with three brokers per geographic area. Referred customers are sent to these brokers simultaneously after being generated. Here, you can find additional information on the requirements to join. In addition to the list-based referral customers, the company can also provide lease contract referral customers. This is a 15% discounted referral fee. You can learn more about AgentHarvest here.
5) Clever
Clever is one of the providers with an interesting fee structure. It differs slightly from other providers. Like all other providers, you don't have to pay any upfront fees. When you close a home under $350,000, you have to pay a fixed referral fee of $3,000. If you close a home above $350,000, the fee is 1.5%. You don't have to be a broker to join their referral program. However, you also have to meet similar requirements as other providers, such as:
- Good past seller reviews
- Superior knowledge of the local market
- Full-time broker with over five years of experience
- High proficiency in technology
- Exceptional negotiation skills
Currently, Clever has over 7,000 brokers in their referral program nationwide. You can learn more about them here.
6) UpNest
Over 30,000 real estate brokers use UpNest to receive ready-to-close customers without paying upfront. The company is essentially a registered broker exchange and operates in all 50 states of the US. The company generates both seller and buyer customers, and you can communicate with them through the UpNest app as you move. Additionally, you will have access to an UpNest Advisor as a broker. This advisor helps you improve your profile, increase conversion rates, and connect with customers. To work with UpNest as a broker, they also require you to meet some requirements. However, they are not as strict as Clever. The requirements include:
- At least three years of full-time real estate experience
- Active real estate broker license in good standing
- Good communication skills and quick response times
- Six closings in the past 12 months
- Knowledge and expertise in the local market
- Knowledge of online marketing techniques and strategies
- Positive feedback from previous customers
- High technology skills (e.g., having an above-average online presence)
For their service, UpNest charges a 30% referral fee after you close a successful deal. This fee is based on the broker's total commission before the broker split is applied. When you close a deal, the referral fee is required 18 months after receiving the referred customer. You can learn more about UpNest here.
7) Agent Pronto
The next provider is called Agent Pronto. They operate similarly to the providers mentioned above and match referrals with suitable brokers. They basically determine the choice of broker based on the following profile criteria:
- Service area
- Production level
- Specializations
- Client preferences
- Client reviews
- Communication
You will receive notifications via email and text message when they have a new customer or referral. The shared information will include first name, city, estimated budget, and a link to a website where you can decide whether to accept the referral or not. There is a referral fee, ranging from 25% to 35% of the total commission on each referred deal (source). After accepting, you will receive the full contact information of the customer. Agent Pronto also requires you to regularly update your progress with the corresponding customer. You can learn more about Agent Pronto here.
8) Agent FixUp
Agent FixUp seems to be less competitive for brokers compared to other post-transaction customer providers. They only refer one broker in their network for each customer. Like other providers, the referred customer or referral will be pre-screened and matched with the appropriate broker. The company also seems to focus more on cities and operates in over 200 cities across the United States. When you close a referral from them, you have to pay a referral fee from broker to broker of 25%. There is no additional information on how long this referral fee can be triggered. Hence, there is no publicly available information about the confirmation of previous brokers nor the length of time it takes. For broker registration, they only require how many transactions you have closed in the past 12 months. The rest is your contact information. However, this doesn't mean they don't consider any other performance information. Why? When you are finding a broker from a customer's perspective, you can filter brokers based on the following criteria:
- Highly experienced
- Get you the best price
- Good communication
- Ability to close quickly
You can learn more about Agent FixUp here.
9) Rocket Homes Verified Partner Network
Rocket Homes' Verified Partner Network includes top-performing and experienced real estate brokers from over 3,000 counties across 50 states. Strong relationships with brokers ensure high-quality referrals that exceed industry standards. They offer exclusive benefits to customers, including:
- Mortgage pre-approval
- Verified full contact information
- Confirmed purchase time frame
- No upfront fees
- Special support from referral to closing
To join and maintain eligibility in the network, you have to meet strict requirements, including:
- Working at a qualifying broker company
- Having at least 24 months of full-time experience
- Completing at least 8 closed transactions in the past 12 months
- Supporting the Verified Partner training
- Maintaining high customer satisfaction ratings
Here, you can learn more about Rocket Homes.
10) Effective Agents
This platform connects sellers and buyers with high-performing brokers in their local area. They use a data-driven approach to analyze broker performance. This method is based on the broker's transaction history, client reviews, and other important factors. A large number of brokers only join their program on an invitation basis. You increase your chances of getting an invitation if you are within the top 3%. This 3% is related to transactions in your market. Here, you can learn more about Effective Agents.
11) Referral Cloud
Referral Cloud is a platform that connects brokers with high-quality referral sources. The platform's goal is to help brokers grow their business by providing a steady stream of potential customers. The platform gathers customers from various referral partners, including real estate websites, lead generation companies, and industry-related sources. By using Referral Cloud, you can save time and effort searching for potential customers. Thus, you can focus on closing deals. This platform is designed to optimize the referral process. This ensures that brokers receive potential customers who match their expertise and target market. You can manage referral customers and track progress. Additionally, you can communicate with potential customers through the platform's interface. You have to pay a 35% referral fee when you close a deal. You can learn more about Referral Cloud here.
Overview of the 11 Post-Transaction Real Estate Customer Providers (Including Fees)
Below is an overview of the performance of the eleven providers based on broker feedback. For the other providers, there are not enough or too few feedback data to analyze.
Now, let's discuss the benefits and risks that may make post-transaction real estate customers appealing. This would be valuable if you are working with appropriate companies.
4 Benefits of Post-Transaction Real Estate Customers
Let's discuss the benefits and risks of having access to post-transaction real estate customers.
1. No Upfront Financial Risk
Since there are no upfront costs, you don't have to worry about financial risks when generating customers.
2. Potential for Higher-Quality Customers
Thanks to no upfront costs, you have the opportunity to receive higher-quality customers. Providers don't get paid if they don't provide you with quality customers.
3. Time and Effort Saved
By not having to work on marketing and lead generation yourself, you save time and effort.
4. Opportunity for Exclusive Customers
There is a chance to receive exclusive customers.
5 Risks of Post-Transaction Real Estate Customers
However, there are also risks associated with accessing post-transaction real estate customers.
1. Not for New and Intermediate Brokers
New and intermediate brokers are often not accepted. They usually cater to brokers with higher demands for customers.
2. Potentially High Referral Fees
Referral fees can be quite high. Thus, paying upfront fees to other providers may be more reasonable. However, this depends on your sales and tracking skills.
3. Potential for Future Referral Fees
You may have to pay referral fees for future transactions. This depends on the referral agreement with the providers. Additionally, they may not allow you to market with their customers in the long term (e.g., marketing to past customers).
4. Potential Time Wasted on Cold and Low-Quality Customers
You may waste time and be less efficient with cold and low-quality customers.
5. Competition with Other Brokers for Non-Exclusive Customers
You will compete with many other brokers for non-exclusive customers. This depends on the provider.
Conclusion
Based on broker feedback analysis, there is only one provider that I would choose among the eleven companies mentioned. Besides analyzing broker feedback, you should also consider your personal business situation. Are you an advanced and experienced broker? If yes, using providers that offer post-transaction real estate customers may make sense. However, you should also observe your performance indicators. If you know you have been successful with your sales and tracking skills, you may choose a provider that does not have too many restrictions and does not charge referral fees too far into the future. Do you have a proven real estate marketing machine that generates high-quality customers? If yes, I would not recommend using these services. Instead, you may want to diversify your customer sources through other marketing channels. So, I will make this decision based on the marketing ROI you want to achieve for your business. You can use the decision tree below to help you decide on post-transaction real estate customers.
