Guide · Lead costs
Referral-fee networks vs paid portals vs flat-fee buyer research
Referral networks cost nothing up front but take a share of your side when the deal closes: 33% is HomeLight's standard fee, Zillow lists 40% on seller connections in its pay-at-close program, and Realtor.com's referral fees are reported at around 30 to 35%. Paid portals bill monthly whether or not you close and often send the same inquiry to several agents, while flat-fee research costs the same every month and leaves the whole commission, and the relationship, with you.
None of these is free and none is a scam. They put the risk in different places. This guide sets out what each model costs, using the platforms' own published terms where they exist, and is honest about where a flat fee (which is how LeadSynth charges) is the worse deal.
The three models side by side
| Referral-fee network | Paid portal | Flat-fee research | |
|---|---|---|---|
| What you pay | A share of your side of the commission | A monthly fee, usually by area or ZIP code | A fixed monthly fee |
| When | Only when a referred deal closes | Every month, for the contract term | Every month you keep it |
| Who else gets the lead | Varies by platform | Often several agents, unless you pay for exclusivity | Depends on the provider (LeadSynth: one agent per market) |
| What you get | An introduction to someone who asked for an agent | Inquiries from people on the portal | Research: who is buying, and a way in |
| Where the risk sits | Expensive when you win | You pay for leads that don't convert | You pay in months when nothing closes |
Referral-fee networks: what they charge
These platforms find a buyer or seller, introduce them to you, and take a percentage of your side of the commission when the deal closes. Their published terms:
- HomeLight. Joining is free, with "no monthly or per-lead fees". The standard referral fee is 33% of the agent's side of the gross commission, and it applies if the transaction closes within three years of the referral (HomeLight Agent Help Center). HomeLight raised the fee to 33% in October 2022, from 25% for most referrals (Inman, 25 Oct 2022).
- Zillow. The pricing page for Zillow's pay-at-close program (now called Zillow Preferred, previously Flex) says "the success fee for all seller originated connection transactions is 40%", and that buyer-side fees vary by market, price and date (Zillow pricing page). Analyst Mike DelPrete reported in October 2023 that the fee "has been 35 percent for years" before rising to 40% in six markets (Mike DelPrete, 12 Oct 2023).
- Redfin Partner Agents. Redfin says there are no upfront costs and you only pay a referral fee once you close a transaction; your brokerage receives the rest of the gross commission (Redfin partner page). Redfin doesn't publish the percentage on that page.
- Realtor.com (formerly Opcity). Realtor.com doesn't publish its schedule. Clever Real Estate reports referral fees "typically 30 to 35% of your commission, as of August 2026", and broker-published tables putting buyer referrals at 28 to 40% depending on price and ZIP code (Clever Real Estate, updated Sept 2026).
For comparison, ordinary agent-to-agent referrals are usually cheaper. Zolo puts the standard range at "20% to 25%" across North America (Zolo). In Ontario, referral fees have to move brokerage to brokerage; see our guide to referral fees in Ontario.
What that looks like on one deal
Take an illustrative GTA purchase: a $900,000 home where your side of the commission is 2.5%, or $22,500 before your brokerage split. (Commissions are negotiable; these numbers are only for the arithmetic.)
| Fee | Paid to the platform | Left for you and your brokerage |
|---|---|---|
| 25% (typical agent-to-agent) | $5,625 | $16,875 |
| 33% (HomeLight standard) | $7,425 | $15,075 |
| 40% (Zillow, seller connections) | $9,000 | $13,500 |
The upside is real: if the referral never closes, you pay nothing. The downside is that you pay most on exactly the deals you work hardest to win.
Paid portals: monthly fees, often shared leads
Portals sell you a place in front of people browsing listings in an area. You pay whether or not anything closes.
- Realtor.com Connections Plus charges "a fixed monthly rate for buyer inquiries in the ZIP codes you choose". Leads "are shared with other agents by default; exclusivity costs extra", contracts typically run six or 12 months, and prices are quoted by a sales consultant rather than published (Clever Real Estate, updated Sept 2026).
- Zillow routes inquiries among the agents on a team. For phone leads, it "randomly chooses up to 10 of your selected agents, then calls them all at once. The first agent to answer gets assigned the lead" (Zillow help center). Speed decides who gets it.
- In Canada, HouseSigma lets agents claim buyer leads under a level system tied to their conversion rate: top-level agents "get first access to new leads for 15 minutes, then leads gradually open up to all lower levels" (HouseSigma agent docs).
More on what sharing does to your odds in exclusive vs shared leads.
Flat-fee buyer research
A flat-fee service charges the same every month for information, and takes nothing when you close. LeadSynth works this way: $300 a month per market at the founding rate, first month free, one agent per market, no referral fee and no share of commission. Every Monday you get a short list of people who said publicly that week that they're buying in your market, with the link and a suggested public reply.
Where it's the worse deal, honestly:
- Nobody has asked for an agent yet. These are people asking questions in public. You earn the conversation with a useful answer; a referral network hands you an introduction.
- You pay in quiet months. If nothing closes for a year, $3,600 is gone. A referral fee would have cost nothing.
- Volume varies. Busy weeks produce more buyers than quiet ones, and the posts are public, so another agent could find the same thread.
Where it's the better deal: when you're good at turning a conversation into a client, because every deal it leads to keeps its whole commission. On the illustrative deal above, one closing a year more than covers a year of the fee.
How to choose
- Short on cash, confident you can close warm introductions? A referral network puts no money at risk until you're paid.
- Want volume and can respond within minutes? A portal suits teams with fast response and a follow-up system.
- Good at earning trust in public and want to keep your commission? Flat-fee research suits agents who'd rather spend time than give up a third of a side.
Whatever you pick, ask every lead source four questions: who else gets this lead; what exactly is the fee and when is it due; how long does the fee claim last after an introduction (three years, in HomeLight's case); and can I see a real sample first.
Questions
What is a typical real estate referral fee?
Between agents and brokerages, commonly 20 to 25% of the receiving side's commission. Referral platforms charge more: HomeLight's standard fee is 33%, Zillow lists 40% on seller connections in its pay-at-close program, and Realtor.com's fees are reported at around 30 to 35%.
Are pay-at-close leads free?
They're free until a deal closes, then you pay a share of your commission, often a third or more. HomeLight's fee applies to closings within three years of the referral.
Is a flat monthly fee better than a referral fee?
It depends on how often the research turns into closings for you. A flat fee costs money in months when nothing closes; a referral fee costs nothing then but takes a large share when you win. On a $900,000 purchase with a 2.5% side, a 33% referral fee is $7,425, roughly two years of a $300 monthly fee.
Do portal leads go to more than one agent?
Often. Realtor.com's Connections Plus leads are shared with other agents by default, with exclusivity costing extra, according to Clever Real Estate. Zillow's team routing calls several agents at once and gives the lead to whoever answers first.
Does LeadSynth take a referral fee?
No. LeadSynth charges a flat $300 a month per market at the founding rate, with the first month free, and receives no referral fee or part of any commission.
Sources
- HomeLight Agent Help Center, What does HomeLight cost?
- Inman, HomeLight raises real estate agent referral fee to 33%, 25 October 2022.
- Zillow, pay-at-close pricing page.
- Mike DelPrete, Zillow Flex fee rises to 40 percent, 12 October 2023.
- Redfin, Grow your personal business in partnership with Redfin.
- Clever Real Estate, Opcity leads: is the referral fee worth it?, updated September 2026.
- Clever Real Estate, Realtor.com leads: are they worth the cost?, updated September 2026.
- Zillow help center, Agent capacity and lead routing.
- HouseSigma, New claim level system.
- Zolo, What are referral fees?
Fees and terms change. We checked each source on 7 November 2026; confirm current terms with the platform before you sign anything.