Giving’s referral engine a test run

In anticipation of my next referral opportunity, I decided to give the referral submission tool a bit of a test run.

My first concern is that the Customer Contact Information screen in Step #1 asks for fields best suited to a residential broker.  I would love to see a future version offer a drop-down box to select residential or commercial (perhaps even investor as well).  Upon selecting the appropriate the type, the most suitable contact fields would be displayed.  For instance, with a commercial client, it’s handy to be able to include company name and even website.

Under Referral Details on the same step of the submission process, we are offered radio buttons with three choices.  Using a hypothetical business client seeking to lease space in a new market, I selected “Referral to Real Estate Broker”.  Unfortunately, this then provides me with a Transaction Type drop-down with options of a) Selling Real Estate or b) Buying Real Estate.  Commercial leasing options are not addressed yet.  I chose to work around this by selecting “Referral to Real Estate Service Provider”, which prompted me with more flexible fields to complete details of an office lease requirement.  I didn’t like that the fields are text boxes, giving me too many options to complete the request, but this will only become a real issue if the data is to be used beyond the referral time frame, e.g. if it is to be mined by Zolve to evaluate usage and improve service.

I very much like Step #2.  The referral source is given the option of screening potential referral recipients.  You can include a message and even ask questions.  Special thanks for whoever implemented the feature of maintaining a frequently asked questions (FAQ) list for quick access.  When I went to select a couple of recipients from my Sphere, no contacts populated in the pop-up window, so that’s a bug that needs to be zapped.  I opted to “Skip this Step” and proceed to Step #3.

At Step #3 – “Send Referral Offer”, I appreciated that the “Rewarded to:” field did produce a pop-up window auto-populated with my Sphere members.  I selected a colleague from UGL Equis and the Terms of Referral section populated with an “On Line Referral Agreement”, outlining the terms of the referral and the guaranteed level of service on behalf of the referred client.  Zolve understandably includes a small fee to account for their support in the transaction.  One thing worth noting: there are two types of referral agreement and anyone who intends to give or receive referrals as a licensed real estate salesperson or broker needs to make sure that they a) correctly choose their profession when they register and b) update their license information to prove that they are, indeed, a licensed real estate agent.  Otherwise, the broker<->broker referral agreement is not available to select.

All told, this is a pretty comprehensive tool for managing referrals.  I certainly appreciate the long-term implications of using this tool.  Not only will we be able to rate the performance of our referral recipients, but our existing and prospective clients will be able to view those ratings.  As Brad Whiteman stated in his recent blog post on Win-Win approaches to the business, we have to pay attention to our primary responsibilities.  I anticipate that Zolve will create a foundation to ensure that only those real estate professionals who embrace honesty, integrity and fiduciary responsibility will rise to the top of this peer-reviewed engine.


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