How to Get More Real Estate Referrals
Strategies for Growing Your Real Estate Business
In today’s diverse marketing environment, real estate professionals have more opportunities to gain referrals. At the same time, with busy schedules and limited budgets, it helps to target effective channels that limit waste. If you’re looking for smart ways to build a more organic referral program, consider the following tips.
- Stay top of mind. This can be accomplished in a number of ways, including phone calls, coffee and lunch meetings, client appreciation events, personal letters, mailed newsletters, email newsletters and handwritten notes. Whatever you do, keep in touch with prospects and former clients, framing yourself as – not just an agent – but a source for current market conditions.
- Offer value. Contact relevant people in your sphere of influence with timely and interesting topics. This could include market updates, investment opportunities, changes in interest rates, move-up opportunities and any relevant industry news.
- Track your referrals. Identify where you should spend the most time, effort and dollars. By targeting your “top producers” you can effectively manage your time and money. There are only so many hours in a day, so make sure you aren’t wasting any of them.
- Build relationships. It may seem like a no-brainer, but many professionals fail to network with industry colleagues. Regularly attend face-to-face networking events and create a strong social media platform. Treat new contacts like gold and see if you can help them before asking for any favors.
- Stay available. It may seem like an inconvenience, but it’s important to stay available even outside of business hours. You should also forgo impersonal contact forms on your website in favor of simple direct ways for clients and contacts to get in touch.
- Cross promote. You can build trust and mutually beneficial relationships by promoting your contact’s services to your clients where appropriate. You can do this via newsletter, on your website or at a hosted event. When you help others, they are much more likely to reciprocate.
Creating a Culture of Referrals
There are number of tricks and tactics that can help you accumulate referrals. At the same time, successful real estate professionals create daily routines that attract referrals organically. Start by directly asking for referrals from anyone in your sphere of contact. Ask your affiliates and vendors if they know anyone who is selling or buying. Always deliver exceptional, attentive service, so clients will be happy to send referrals. When closing a sale, try to add your client’s sphere into your system. You should also consistently think of ways you can help someone in your sphere, even in the slightest way.
Most importantly, try to remember that building a referral-based clientele is a long-term strategy. Don’t expect instant results, or you are bound to give up on effective tactics before they pan out. Work your strategies into a daily routine, so you can enjoy positive outcomes further down the road.
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