17 August 2018
Every agent loves referral — for good reason. When a prospect contacts you because you’ve been recommended, that person is already predisposed to working with you. It’s no wonder that, as a type of real estate agent lead, a referral has the highest probability of becoming a new client.
So how do you get more?
Well, as they say, Rome wasn’t built in a day. Referral business is something that you build over time, ideally with a good client referrals system. However, there are some things you can do — this week — that can help get you more referrals in the short term and set the stage for even more down the road.
Consider implementing these ideas:
- Meet with a new referral source When was the last time you reached out to a contractor, lawyer, lender or other professional who could recommend you to their clients? If it’s been a while, consider doing so this week. Invite that person out for a coffee or lunch. Start the process of building that relationship.
- Re-establish contact with old clients Do you have past clients for which you’ve lost contact? Hey, it happens! But that doesn’t mean it needs to stay that way. Make a list of those clients and call them this week. Apologize for losing contact and promise to stay in touch. (A good real estate referral program is the ideal way to do this.) Past clients can be a goldmine of leads.
- Improve your keep-in-touch marketing You’ll get more referrals from those you’ve built a solid relationship with. That requires keeping-in-touch regularly, ideally monthly. So look at how you’re keeping in touch, especially with past clients. Are you being consistent? Are you offering high value, such as a real estate newsletter with helpful content? Explore how you can make some adjustments.
- Get up-to-date on calls and visits For your best business contacts and past clients, you should augment your real estate direct mail and email with personal calls and visits. Are you doing that? Or have you fallen behind in this area? If so, then this week work on catching up. If just one more past client becomes motivated to recommend you to a friend or neighbour, the effort is worth it.
- Remind clients that you welcome referrals Numerous studies show that past clients are much more likely to recommend you if they know you welcome referrals. Even your most enthusiastically-satisfied client may need to be reminded. So, this week, contact your best past clients and let them know you welcome and appreciate their support.
As effective as these strategies are, the best thing you can do to generate more real estate referrals, consistently, is to use a real estate marketing system — as Richard Robbins recommends in a video for REM Magazine. The right system helps you do all of the above, more quickly and easily, which leads to a growing referral business year after year.