Real estate affiliate marketing is an ethical method to earn money for referring potential customers and clients to other real estate sites. Many real estate firms use affiliate marketing to rapidly add new clients and potential customers to their firm. In fact, a lot of agents are paid through real estate affiliate marketing programs as a portion of commission on every referral they make. It is one of the most widely used by brokers today. It is good to first know what it is not to understand real estate affiliate marketing.
The most common misconception about real estate affiliate marketing is that you can earn money without doing anything. In reality, it is not quite that simple. When you enroll with a real estate affiliate program, you have to do some recruiting or advertising. You have to convince people that you are a trusted agent who can help them sell their homes or properties. Then you have to convince them that by promoting your services, you will be compensated a certain amount of commission. Yes, you will be paid a commission, but this commission will vary from one broker to another.
Therefore, it is important to consider some factors before choosing a real estate affiliate marketing program. You should consider things such as commission payouts, how much you have to pay per sale, how long you have to keep advertising, customer service requirements, as well as other terms and conditions. You should never just blindly choose the first affiliate marketing program that comes your way. Instead, it is advisable to first take time to research and learn about the real estate market, so you would know exactly what to expect from the program you finally select.
Before selecting any real estate affiliate marketing program, you must first understand the two types of commissions available – the “Cookie Duration” commission and the ” Lifetime Commission” commission. Basically, the cookie duration commission lasts for a certain number of days after which you would receive a zero percent commission. The lifetime commission on the other hand lasts for an unlimited number of years during which you can receive a commission. A real estate affiliate marketing program offering the cookie duration commission pays you only if your referrals sign up in the next 180 days.
However, some real estate agent affiliate programs offer both types of commissions. If you are a real estate agent who wants to promote one type of program, it is best that you choose a provider offering the limited period commission. Otherwise, you may end up with a large number of un-qualified leads and clients who will not be motivated to sign up for your real estate services. In case your clients do sign up in the short duration period, however, you can expect to earn a generous commission because they will have done their due diligence before signing up for your services.
One of the most reliable ways to find the best affiliate programs in your real estate niche is to ask other real estate agents about their recommendations. Most agents will be happy to share with you the best affiliate marketing programs they have signed up for. You can also look for other successful agents in your field and ask them what programs they have been able to successfully use to generate high volume leads. By doing this, you will have an insider’s view of what works and what doesn’t.
Another way to build your list of affiliates is to sign up for the popular affiliate marketing networks such as Commission Junction, Clickbank, LinkShare and ShareASale. These services will help you target potential affiliates. Once you have gained access to the database, you can then build a team of affiliates to grow your business. You can even send emails to these affiliates informing them of good information regarding your properties or services and how they can benefit from them.
When choosing an affiliate marketing network, you should take care of certain things. You should choose a commission structure that suits your budget. Also, consider the popularity and type of content the service provides. You should always remember to research on the credibility of the company before going into a contract with them. Finally, make sure the commission structures are fair to the sellers and the affiliates and don’t include hidden fees like bogus upgrade commissions or cookie duration periods which will drain your commission money.