How Rising Interstate Migration Creates Huge Referral Opportunities for Real Estate Agents
Recent U.S. Census Bureau estimates reveal a significant uptick in interstate migration, with the number of people moving between states rising from 7.9 million in 2021 to 8.2 million in 2022. For real estate agents, this shift presents a powerful opportunity: referrals. By understanding migration trends and tapping into a nationwide network, agents can expand their reach, increase business, and foster lasting relationships with clients across state lines.
Migration Trends
What’s Driving the Move? In 2022, more people moved between states than ever before, with state-to-state movers accounting for nearly 20% of all relocations. The American Community Survey data also shows that some areas, like the District of Columbia, experienced a surge in immigration (44.3%), while states like California saw lower rates (11.1%). These migration patterns are important for agents because they highlight regions with high levels of movement—making them ideal for agents to target for new business.
For instance:
- D.C. saw 44.3% immigration, with a large influx from Maryland—this creates an opportunity for Maryland agents to partner with D.C. agents for referrals.
- California, despite having a large number of in-movers, still saw relatively low immigration rates, meaning agents in states with higher migration levels could capture more business from clients moving into California.
Why Referrals Are Critical for Real Estate Agents In today’s competitive real estate market, referrals are more important than ever. According to the National Association of Realtors (NAR), over 60% of buyers and 70% of sellers find their agent through referrals or word-of-mouth. Referral business not only helps you build a strong client base, but it also allows you to tap into markets that may be outside your immediate geographic area. With so many people moving across state lines, the need for strong referral networks has never been greater.
How the 5x Referral App Can Help You Capitalize on Migration Trends With the rising number of people moving from one state to another, the opportunity for agents to grow their business through referrals has never been more promising. The 5x Referral App connects agents across the country, helping them build a network of trusted partners who can send leads your way—and vice versa.
By using the app, real estate agents can:
- Expand their Reach: Access referral opportunities in states where you might not have a physical presence.
- Increase Business Volume: As migration increases, so does the potential to capture more referral business from clients relocating across the country.
- Strengthen Client Relationships: When you can connect your clients with trusted agents in other states, it enhances your reputation as a go-to resource for all their real estate needs—whether they’re moving locally or across the country.
Real Success Stories with the 5x Referral App Real estate professionals who use the 5x Referral App have reported substantial growth in their business. One agent in Texas shared that by partnering with a network of agents in states like Florida and California, they were able to double the number of closed deals in just one year. With more people relocating and a higher need for agents who can coordinate referrals effectively, these types of success stories are becoming the norm.
As migration trends continue to shift, agents who leverage referral networks will be poised to grow and thrive. The 5x Referral App makes it easier than ever to connect with top agents nationwide and take advantage of these opportunities.
Don't miss out on the business that’s up for grabs!
Join the 5x Referral App today and start building your network of referral partners.