How to Get Referrals
Referrals are an excellent way to generate more leads for your real estate business. It’s been reported that 82% of all real estate transactions come from referrals, with 42% of sellers finding their real estate agent by a recommendation from someone they know. To have longevity as a real estate agent, referrals must be an essential part of an agent’s business. Referrals start with excellent customer service and the ability to deliver what was promised. You must be reliable, professional, return calls and emails promptly, and go above and beyond what is expected. You not only want to get a positive review from your client, but you want them to refer you to their friends and family. There are lots of ways to build your referral business and many ways and places to get referrals. It can be easier to get referrals from warmer lead sources such as current and past clients, personal or professional contacts such as a teacher, doctor, or hair stylist, business associates, and your farm or neighborhood where you market yourself. There are other referral sources such as posting on social media, joining referral groups, connecting with out of area agents, and franchise referral networks.
The best way to get referrals from your warmer lead sources is to consistently stay connected on a regular basis. By using a follow-up system or a customer loyalty program, you’ll always be able to stay in the front of your client’s mind. Closing gifts after you sell a home provide the chance to thank your clients and remind them that you’re always ready and willing to assist their friends or family with any of their real estate needs. Utilizing email is one of the simplest and most cost-effective ways to stay connected to clients. It allows you to keep current and past clients updated on the real estate market and trends in their area so they see and know that you are the local real estate expert. Newsletters, market updates, buyer and seller resources, or questions and answers are also powerful to send. It can be anything as long as it offers something of value and is done a regular basis, such as monthly, bi-monthly, or even weekly.
Direct mail is another great way to reach clients with market updates or just listed/just sold announcements. A pop-by help an agent stay connected and ask for referrals for past clients and often times, in person. The list for a pop-by can be narrowed down if you have too many to those who are likely to offer referrals or repeat business or do half your list one month and the other half the next month. Branded merchandise can also be utilized for a pop-by, when doing events, open houses, or a monthly, quarterly, or yearly direct mail piece. Branded merchandise has a longer shelf life so that clients always have your contact information. The use of a logo or slogan can help to make it even more recognizable. Don’t forget to send anniversary cards to all your past clients during the month when they purchased their home from you. Birthday cards are similar to home anniversary cards where it shows your client that you took the time to wish them well and now, you’re at the top of their mind. During your closing, make sure to add your client’s birthday to your calendar or you can pull their information from Facebook, if they have an account.
While warmer lead sources are easier to connect with, business associates such as lenders, home inspectors, or title reps are another way to obtain referrals. Make sure you ask for a referral, especially when you are referring them to someone. Social Media can be a great source for referrals. You need to post regularly and consistently on your page to keeping followers and neighbors informed and make sure to provide content with value and that is easily shareable. You should also join all the real estate groups on Facebook to be able to connect with agents around the country. Real estate groups such as Real Estate Agent Group, Raise the Bar in Real Estate, Successful Women in Real Estate All Over the World, What’s Up Realtors, and the National Association of Realtors. Also make sure to join your local state, association board, and local town real estate groups for maximum exposure. LinkedIn is also another great place to connect with other agents from all over the world. Groups such as Smart about Real Estate, Real Estate Professional Referral Group, and Real Estate Open Networks have the most members. Remember, don’t just join, you also have to participate to get any benefits out of the groups. Another way to get referrals from out of area agents is to join a referral network group. If you work for a franchise, the franchise should already have the referral system in place and all you have to do is make sure you are active and all your contact information is correct. If not, check out Referral Exchange.
Asking and sharing reviews is another opportunity to ask for referrals. When someone is gracious enough to take the time to provide a review, take the time to thank them and don’t be afraid to ask if they know of anyone who might be buying or selling a home in the near future. The review can be posted on your social media page or via email to your client database offering another chance to ask for a referral. Once you receive a referral, remember to always thank whoever provided the referral whether that’s with a phone call, email, a thank you card, a pop-by or a combination even if the lead doesn’t pane out. If the lead does result in a sale, a thank you gift after closing is another way to show appreciation. Anyone who consistently refers business to you, make sure to reciprocate the gesture so they know how much their kindness helps you and your business.
Don’t forget:
·When asking for a referral use questions like, “do you know anyone who has thoughts of buying or selling?” or “Who do you know that might be ready to make a move?”
·When sending out an email campaign, make it shareable and include something that says, “feel free to share to anyone who you think might be interested in buying or selling.”
·Create a video from your smart phone and ask for referrals then share it via email or social media.
·Be easy to find, easy to contact, and easy to be able to email or leave a message without any hiccups.
·Your website, blog, emails, and social media group should all have your contact information to allow someone to easily contact or message you.
·Always have business cards available so that if you run into someone you can offer your business card or a piece of merchandise material.
·Respond within five minutes after receiving a referral.
Don’t ever be afraid to ask for a referral. Most people are more than happy to help, all you have to do is ask.What's Up Realtors?









