"Consumers need trusted real estate agents to work with them. The majority of agents do very few transactions a year, meaning that consumers have a very high chance of working with someone who does not have a lot of experience."
"It is not about steering as much as it is about ensuring a great consumer experience. It is about making sure that if you get a referral from any partnership that the consumer has a great transaction with the agents that you have."
"Over the course of a four year review by the CFPB, my firm never had to change anything about how we do business, leading me to feel that the regulators don't understand how business across many different industries operates."
Mitchell created a successful referral engine that helps consumers find trusted real estate agents. He highlights that many agents are part-time and lack experience, making referrals essential. Mitchell believes that current legal challenges against referral networks hinder consumer benefits. His firm faced scrutiny from regulators but ultimately received a clean bill of health. He argues that referrals are a natural part of business and essential for ensuring positive consumer experiences in real estate transactions.
Read at www.housingwire.com
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