Homeloan Affiliate Program for OzBargainer

tomleonhart on 01/09/2015 - 08:14
Last edited 01/09/2015 - 08:19

Hi Guys,

I don't even want to beat around the bush. In an attempt to drum up business for my service, I'm thinking of running an affiliate program on ozbargain :) This is at a very early stage and I really just want to get an idea to see if people are interested at this point.

Background
We pay Real Estate Agent a fee from our commission to refer business to us. So I thought why not pay people for referring business to us too.

The program
When you refer a client to us and if the person ends up taking a loan (of course the loan will have to be not unsuitable for the client and fit to what they need).

  • You will receive a 10% rebate of my upfront commission.
  • The client you referred will also receive a 10% rebate of my upfront commission.

Of course there will have to be an agreement in place which I'm working on.

Would this be something Ozbargainer be interested on? :)

Poll Options

  • 17
    Yes I'm interested
  • 11
    No I don't give a crap
Financial

Comments

  • IMBI3 on 01/09/2015 - 08:43

    Believe the industry standard is 30% for referral?

    • tomleonhart on 01/09/2015 - 08:49

      It really depends on the REA. I got more referral from agents that I pay nothing than those with 30% agreement in place!

  • bghunter on 01/09/2015 - 09:47

    How would you do it for WA?

    • tomleonhart on 01/09/2015 - 09:49

      skype/facetime/email

  • QuickToThePointless on 01/09/2015 - 10:11

    you want homeloans to be handled around here just like catch of the day, amaysim, Ozsale, uber, herbilife etc that are used as bait for referral credits? Should really raise the already high bar for industry integrity…

  • bluedufflecoat on 01/09/2015 - 12:29
    +1

    what if I eventually refer myself? Do I get 20% of your upfront fee? How about trailing commissions?

    • tomleonhart on 01/09/2015 - 12:56
      -2

      Hmm. The idea I was thinking of is to grow the referral network and not for self interest. If you can refer yourself, i think everyone will be doing that :).

      Only the upfront is paid to referrer and client. No trail.

      • bluedufflecoat on 01/09/2015 - 13:58
        +2

        If you can refer yourself, i think everyone will be doing that

        Exactly… so why would anyone looking for a new mortgage come to you on their own?

        Ps. I didn't neg you.. just getting info.

      • dasher86 on 01/09/2015 - 14:29

        so we can refer each other?
        so someone refers me and then i refer them?

        • tomleonhart on 01/09/2015 - 14:35

          hmm i guess that's a possibility.

        • jaybmate on 01/09/2015 - 20:07

          Just like all the MEbank / ING deals, - all the ozbargainers are 'friends' of each other.

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