Referral system generates over £1.3 million in revenue
Working together as a network and using a referral system is financially beneficial for independent agents. This is according to Daniel Pepperell, Regional Director at The Guild of Property Professionals, who says that since the launch of the newly reformed referral system, the total revenue generated through The Guild’s referral system is over £1.369 million, with 520 completed referrals. That means that when divided across the agents who participate in the scheme, each Member has received an average revenue of around £4,088 per referral.
“With a membership of approximately 800 independent estate agents throughout the UK, the Guild of Property Professionals is one of the UK’s largest property networks. This extensive network provides agents with allies across the country that they can work with to increase their revenue stream. The revenue generated from the referral system alone has paid for many of our Members’ annual fees and more, not to mention the various other money saving and revenue generating products and services that Members have access to,” says Pepperell.
He adds that some Members, such as Cooke & Co have made over £40,000 from the referral system since 2017. During this same period, other Members such as Greenwoods in Knowle, Bristol have received 125 referrals, and Holroyd Miller in Wakefield have received around £30,500 in revenue.
According to Kris Mclean, Regional Director of The Guild of Property Professionals, “Over the last year in particular we have seen an increase in the number of referrals moving through the network. No more so than in Northern Ireland, a region that joined the network in 2019, and have enjoyed great success with many home movers relocating from Scotland and England to the region. This is partly because so many more people now have the freedom to live further away from their place of business with remote working becoming more prevalent. Lifestyle has been a driving factor behind home moving decisions and many people are choosing to move to different regions. Guild agents are able to help the vendor sell their home in one region, and then refer them to another Guild agent in the area they are looking to move to. This is beneficial for the network and the agents involved, as well as the client who has the peace of mind that the agent they will be dealing with on the other side is part of the same carefully selected network of property professionals that adheres to the same high standards and ethics.”
Pepperell further adds that while The Guild currently has 800 Members and extensive reach across the UK, the aim is to continue to further grow the network and have a Guild Member in every town in Britain. “More Members and more listings mean more choice for consumers, all under one umbrella providing comprehensive coverage for our clients. However, we are always careful to choose the right agency to work with in each territory, making sure they are the best fit in in relation to the core values of The Guild,” he concludes.
