SAN FRANCISCO—Flywheel Networks has launched its new agent-to-agent referral service, ReferralExchange, for all real estate professionals.

ReferralExchange, which was initially rolled out in March on a limited basis, has already received more than 11,000 agent-to-agent client referrals, valued at almost $1B in real estate. It is ideally suited for agents to handle personal referrals such as past clients, friends and family members, plus managing raw web leads and old leads which need attention.

The new service enables REALTORS to take advantage of every lead they receive—including those outside their preferred market area, price point or property type. Using sophisticated technology, ReferralExchange matches the client with three agents who fit their specific needs, manages all paperwork and tracking, and pays the referring agent a 25% referral fee upon close of the transaction.