Pros
Steady flow of supposedly "pre-approved" referrals.
Cons
Referrals are low quality. Many of them come with a lender pre-approval, but cannot actually buy a house for various reasons when it comes right down to it. It is often hard to connect with the referring lender, so agents fail to get the whole picture until after they have wasted a lot of time showing/writing offers. A lot of the referrals are also very low price range. Agents and clients both are charged a lot of fees and average agent pay is $1500-$2000 per closing in my market. They are also very heavy on the "mandatory" meetings. Always threatening to remove agents from referral sources if they don't attend meetings or produce at a high level on the crappy referrals they receive. Too much tech and too many platforms the agents are required to update weekly, or again be threatened to be removed. Also, repeated threats of agents being sued if they leave the brokerage and take any of the clients with them. AS IF we really want to take these >$100,000 condo leads with us.