IN FOCUS: An untapped opportunity

- Inside the 50% referral program

2018-02-07 6:00:00 AM
When he saw a gap in Orlando’s burgeoning real estate market, Garry Walmsley, Senior Global Real Estate Advisor at The Orlando Agency, a Division of Global Real Estate Services, launched the Refer 50 program, which gives Canadian realtors a 50% referral on Orlando all real estate transactions, as a referral partner, which includes New Build Properties, Resales and even Clients who list their property for sale.

“In creating the referral program, we are trying to incentivize Canadian realtors with a financial reward to think outside of their local market and recognize the opportunities in the Orlando market,” Walmsley says. “Many Canadians are buying vacation or second homes with a growing number who purchasing strictly investment properties. In speaking with existing realtor partners north of the border, many people seem wary of investing in the purely appreciative Toronto market, where there appears to be little cash flow or ROI to be generated. 

Canadian real estate agents have a good opportunity to generate some strong residual income simply by expanding their horizons. The 50% referral fee that The Orlando Agency offers is pretty much unheard of in the industry, with the typical North American realtor-to-realtor referral fee coming in around the 25% mark.

“We created those terms because we want to build long-term partnerships,” Walmsley says. “We want to help the property buyers as much as the realtors themselves. We think that Canadians buying in Orlando need a full-service option and that they will be much more comfortable and happy with the results when working with a Canadian realtor rather than an Orlando-based residential realtor.”

With such attractive referral programs, it’s a region that presents a lucrative opportunity for ambitious agents. However, buying the property is often just the first step in a long line of potentially complex tasks and transactions.

The Orlando Agency program mitigates some of those common issues by helping the real estate agent assist their client in some key areas including mortgage origination, U.S. bank account set-up, commercial foreign exchange, property and personal insurance, U.S. tax compliance, property inspection/refurbishment services, and property management services.

“Having access to those on-the-ground services means the agent can help their client avoid any of the pitfalls that can occur when you’re buying a property outside of your home country,” Walmsley says. “We hold each client’s hand throughout the process, providing a personalized service throughout the transaction and long after. We effectively become their eyes and ears on the ground in Orlando.”

Download this industry whitepaper to find out more about the opportunities on offer to Canadian realtors.

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The experts at The Orlando Agency specialize in the representation of Canadian Citizens in the Buying and Selling of Investment Properties.

Whether looking for a second home with amenities galore, an income producing property or a mixture of both, we can identify and advise on the highest-performing and most productive options currently available for the rental market.

We’re well versed in the entire process of buying and selling homes and provide honest and accurate information for every step. From an individual home to managing an entire property portfolio, our team of experts offer a level of service, knowledge and professional expertise that is second to none.

With up-to-date advice about market trends, sale histories and rental performance statistics, our guidance is offered to ensure every client’s home can be marketed to its fullest potential.