If you  are a CRS, as a benefit, they provide the leads for a 25% referral fee. How ever all the ones I have received have been dead end leads. I did read a blog on AR that their business model is to take leads from weak agents and re-refer them to a top producing agent to see if they can close them

 I like to be responsible for my own organic referrals -  they're free and come with a job well done!

DO NOT USE THEM!!!   I had to spend months fighting a claim, and now years later I hear from them (today) and they are expecting a referral fee and threatening BBB and collections.  They (under the name of Agent Machine, I think before the days of the $999) sent me a lead in July 2014 and I did not get the listing (didn't even talk to the guy) and the listing expired.  Two years later, after farming the neighborhood, the seller decided to list with me. Then I get the email wanting the referral fee. While in communications, I asked, and they admitted, that they will keep an eye on their referrals and they expect to collect on ALL repeat business too! So forget the fact that you are going to spend money keeping in touch with your clients, and/or farming a neighborhood....they will want the referral fee. 

The leads were junk and they are shysters. I am very surprised that CRS would partner with them.   They obviously don't know their practices. 

I realize this is an old thread, but in researching reviews for this company today, I ran across this post and wanted to contribute something I think speaks to the customer service aspect of this company.

I referred a condo listing to another agent in my market yesterday via Referral Exchange.  Given the small amount the commission will likely be, I wanted to reduce my referral fee amount to the receiving agent.  I received an email response from "customer support" indicating it was not possible to reduce ReferralExchange referral fees, and I could email Adam D'Ambrosi, the Senior Closings Manager if I had any other questions about it. I wasn't asking the company to reduce their amount.  I wanted to reduce mine.  So I emailed Adam immediately and asked him to call me.  I'm still waiting.  Later, I called customer support and asked for someone else to help and was told he is the only one who can handle it.  So I emailed him again.  Still nothing.

I have now sent an email to the receiving agent (copying Adam) to let her know she will have to pay me the higher referral fee because he won’t respond to his customers.  Maybe she’ll have better luck convincing him he should contact one of his customers about a service issue that's costing HER money.  If you choose to do business with them, expect to not be able to just call and get someone on the phone who can actually help (always have to leave a message at the support line) and then don’t expect response when you are forced to communicate via email.

Just listened to their speil today. No incoming referrals without outgoing first, and after outgoing closes. A $995 start-up fee, then reasonable 25% referral fee. Sales person got very pushy to sign up towards end of their presentation, even after I told him I would think it over, always a red flag to me, so I ended the conversation, and will not join. Not sure it offers anything you cannot develop yourself. Decent technology for agents that need it. 

They sent me a referral they said they talked to...they didn't.

Turns out the referral is someone already in my network poking around on on web sites.

11 months of silence after informing them I already know this "lead" I listed the home (1 block from my house and in my contacts for 1.5yrs) and now they suddenly emerge seeking a fee.

I just had a call from them too, trying to get my business.  For me, well they lose me and my interest once there is ANY fee.  I don't mind referral fees, but I'm not paying anything beyond that.

I received a call as well. I don't trust any system that makes a hard sell and calls mulitple times. As agents we get calls all the time asking if we can "take on more business" so I ususlly just pass right at the start. They caught me at an off moment and I quickly agreed to set up a time to discuss the program with them. In the meantime I did a search and came across this information which is very helpful. It saved me from having to sit through a high-pressure, 20+ minute call to get the same info :-)

I got a call from Referral Exchange. The caller didn't accept my "No" at the moment.  We set up an appointment to discuss further...  Glad that I found this site and learned about agents' feedback. I cancelled the appoinment. 

I just received the rudest most un professional vacuous email from one of their frustrated sales reps insulting me because I didnt call him back from his many attempts at trying to reach me. I think its a joke and complete BS to pay up front, give them your leads and then they give you back someone elses leads.... Another one of a million companies trying to bottom feed off Agents... 

I would never pay them anything upfront! Companies the give you leads either charge you a fee for ongoing leads (like Zillow, Realtor.com etc.) with no backend fees or send you leads for free and collect a fee if if there is a transaction (a referral fee). We joined ReferralExchange in 2015 with no upfront fee to just receive leads (We did not participate in their program where you give them you old prospects/database. Knowing what we know now, that would have been stupid. Once they have a name, they own it regardless of the circumstances!). They were a decent referral network until someone we were already working with went to their website. When ReferralExchange sends you a lead, you must accept the lead and reaffirm the terms of their “agreement” to find out who it is. There is no conflict check before accepting a lead thus binding you to a “contract of adhesion” (in legal terms). If you are already working with the lead but part of the ReferralExchange network, ReferralExchange takes the position that they own the lead regardless of how you were introduced to it. Even if it was a personal referral and you notify them immediately you are already working with the potential client, show them proof you already had a listing appointment with the lead and provide all communication records that took place BEFORE the lead ever visited the ReferralExchange website, ReferralExchange still takes the position they somehow “own” the lead and are entitled to a referral fee. They will go so far as threatening to send their collection efforts to an 3^rd party agency and filing complaints against you with the Better Business Bureau and your State Real Estate Commission or Bureau. They are not interested in long term, win-win relationships with agent that can actually convert leads into transactions, they just want to make a quick buck. That's really all you need to know about this company.

I got a phone call today from Referral Exchange - here is how I understand the system: 1) pay 995,00 2) upload my "dead" leads 3) when one of those dead leads closes, you receive referral fee and then - but only then - they are sending leads to you (Realtor).

Here is my thought - I don't have that many "dead" leads and the few I have are in my own area - not out of my area. Why should I have "dead" leads from other areas? If I receive a lead from another area - I call somebody in my own network or company network and refer that lead directly. - It looks to me as they are looking for a "cheap" way in getting our "dead" leads to give them to other agents in our own area.    so I politely declined. 

CRS sold the use of their name to Referral Exchange.  RE charges $1000 for a set up.  They encourage agents to upload all of their dead leads.  They say they then "scrub" the leads and offer them back out to three agents to compete.  If an agent picks up the lead and sells them, then the recieving agent pays 35% and the referring agent gets 25%.  The problem is that the leads were dead to begin with.  Now you have agents competing for dead leads.  They say they have a 10% closing rate.  Which means that 90% of them are no good.  How stupid are we?

I've been with them so long and have done quite a number of transactions that I've never paid a one-time fee. Just the referral fee.

up front fees and I'm out. Referrals get paid when the client closes

No experience however I don't want to hand off my referrals.  Keep your grand and use AR as a network starting point.

I would never pay that kind of money up front, the only guarantee you have is being out amost a grand!

they are expanding their services but I have no experience other than hearing their pitch.

I see this is an old thread for the most part but I've been getting calls from them to sign up and based on the responses here will wait a bit to see if they can clear up some of the issues.  We're always looking for easier ways to do business and seems like they still have some things to work out!! :)

No.  This Company is trying to collect a referral "after the fact."  The referral they sent us was from a former husband.  He never owned the property, did not collect one cent from the Title Company. The actual owner of the property called us to list her property from a Quantium mail postcard.  This listing had nothing to do with Referral Exchange.  When the owner called Referral Exchange for an explanation on why they were insisting we pay a referral on her property, they assured her it was a mistake.  We stated the facts and we are being threatened on a daily basis.  We have paid Referral Exchange in the past for leads and have a legitimate one pending now.  Before I take this further with an attorney I would like to see if others had problems.   This can not be an isolated incident.

Hi everyone,  

Just thought I'd give a bit of expanaction as to how ReferralExchange works since there seems to be some confusion in the responses below.  

- The 1x setup fee is for the Submit Feature.  You submit any lead or referral you can't work for any reason.  ReferralExchange contacts every referral to verify interest and, if there is, matches the referral with the 3 best agents from our nationwide network of 22,000 agents.  We also continue to follow-up with the receiving agent and the lead to ensure that the process is going smoothly.  When the deal closes, the submitting agent receives up to a 25% referral fee.  

This is a great service to use if you have a significant number of out-of-area referrals, referrals that you're not working, or too many leads to follow-up on.  You can be as involved or univolved in the process as you choose to be, and we always say that we're calling on behalf of you.  

Only members of the network can receive these referrals and we have carefully built the network over the last 12 years.  Active CRS designees are eligible to receive referrals from us, as are agents we have personally recruited into the network.  Submit-only agents are also eligible to receive referrals once they have closed their first deal.  Receiving agents pay up to a 35% referral fee, depending on the referral.  

Hope that helps!

I just got off the phone with them. Im not that impressed. 

I do not pay to be a part of any referral exchange. That is a very high fee and for that they had better have quality referrals guaranteed.

I just received a call from them and have an appointment to discuss further. If they do indeed have a $1000 required set up fee I will be passing on it. We don't do set up fees, period. I will come back and give an update on how the call goes. Gotta say I am not thrilled with what I've learned so far...

I got the phone pitch yesterday.  I asked the the appointment setter if there were any setup fees.  She said there was, but she did not know the amount.  

I set the appointment planning on researching the company.  After reading this post, the research is complete.  I just canceled the appointment.  I have no interest in paying any large upfront fees for any service.  I told them to give me a call back if they decide to work solely off of referral fees.

no

I don't buy leads to make others money

I have not.  Good luck.  

Nope.

Scott Brucker - I do not like to pay anything for such membership. Had an opportunity and declined it.

no not here.

no knowledge

Gary waters has it right...

I just passed on their offer. That much up front with no guarantees doesn't work for me.

$1000 up front?  I'm going to pass, thank you.

Sounds like another one of the many set up to suck the blood out of new agents who are looking for a marketing shortcut, and finding a shortcut to bankruptcy.

Hi Scott - We do some work with them through AgentMachine, but we've never been asked to pay anything up front - just referral fees on close. And we see a lot of request for 35% referral fees, which we just reject. I wouldn't use them for sending referrals, as there isn't a lot of control over who gets the referral. Using AR and CRS work well for us.

No.

save yourself $999 ,,,,,

I like placing my own referrals

I'm pretty sure this is the company that just called me about 1/2 hour ago. They said they had a 20 minute explanation of their business model. I said if they couldn't explain it in a minute I wasn't interested. So the caller said he would give me the one minute overview which was basically that you call in to them if you need a referral and they would get the information and give the buyer/seller three qualified agents to pick from and we would get paid 25% for the referral when it closed. I said no, I'm part of activerain, and I am also part of a referral network in my office so I'm not interested. He should have paid me a fee for saving him 19 minutes!

I have heard of them but can't say it's great results.

Scott Brucker Save your money!

Never heard of them.