When your business comes to you via referral, you benefit in many ways. You don’t have to spend time or money compiling mailing lists, developing print and digital pieces, or covering mailing costs. You can focus on the client rather than marketing materials when you receive referral business. Additionally, clients referred to you by a third party may be more inclined to trust your real estate expertise. This can lead to positive interactions and results.
FACT: Referrals turn customers into advocates who, in many cases, are more loyal than new leads.
While winter can be a slow season for most businesses, for real estate professionals it means less congestion, lower visibility, and extra time to spend connecting with clients. Here are some tips for incorporating referrals into your current sales strategy and business model.
#1. Authenticity is an important quality for you as a real estate professional to have.
Because it allows you to build trusting relationships with your customers.
- Be honest with your commitments
- Be honest with your opinions
- Your actions should be CONSISTENT with your words
#2. Simple. Be referral WORTHY.
Focus on providing an excellent experience for every client. The best way to do that is to listen and empathize with them and truly get to know what they value.
#3. Greatly timed testimonials.
Testimonials are an important way to market your business, especially in this age of online reviews and viral posts. Clients look for real estate agents they can trust as they purchase a home—the most expensive transaction most people will ever make. Testimonials can build your credibility, which could attract new clients to your business so ask for testimonials shortly after they close on their purchase or sale.
#4. Give Back.
Want to turbocharge your real estate business? Start by giving back. One great way to increase your referral business is to get involved in philanthropic work and volunteer opportunities. Consider becoming more involved in your local community by volunteering and getting to know those who share a common interest with you. From there, the word will spread that you’re a great real estate resource.
#5. Be the agent who’s always in the loop, not just at the time of the transaction.
You can make the process easier by getting to know your client, and they can make it easier by getting to know you. You can trust them to listen to your ideas and advice, and they can trust you to find their house the best buyer. Stay top-of-mind with regular newsletters, valuable social media content, personalized notes or texts, and in-person catch-ups.
Referrals are a great way to build your business, expand your network, and generate momentum. And when you receive referrals from clients, it means they trust you and that you’re doing things right!
Good luck and stay tuned for more of our blog updates to help you make sense of what’s happening in the market and speak about the topics that matter most to you. #ForwardwithFairLead
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