Realtors: Why use Referral Marketing
17 August 2018
Imagine you’re building a gazebo in your backyard. You don’t have to have any construction experience to know you will need to build it on a solid foundation. If you don’t, the structure will be unstable and may eventually fall apart!
The same is true in this business. If you’re at the beginning of your real estate agent career, you need to start with a solid foundation.
What does that involve, specifically, for you as a rookie agent?
It involves having the right real estate marketing systems in place so you’re gradually getting more leads and referrals year after year. Even though you may be starting small with few contacts in your network and few, if any, clients, having the right systems in place sets the stage for your success.
What systems are we talking about here?
If you’re targeting a real estate geographic farm, you’ll need to have a system for staying in touch with those homeowners and positioning yourself as that community’s go-to agent. Such a system would include monthly direct mail and, occasionally, door-knocking and other activities.
Once you’ve worked with a few clients, you’ll want a system for keeping in touch with them and building loyalty. Past clients are not only a source of repeat business the next time they move, but also a lucrative source of referrals. On average, a homeowner gets at least two opportunities each year to recommend a real estate agent. You want those referrals to go to you.
Another important system is one that converts leads into new clients and listings. As every rookie agent discovers, not all prospects are ready to make a move right away. Some talk to you about selling but then hold off for a few months. A good lead-conversion system will help you stay-in-touch with those prospects and position you as their number one choice when they eventually pull the trigger.
Starting without good real estate marketing systems in place makes it harder to succeed. You end up chasing a lot of leads that go nowhere, or scrambling to find new clients. Sure, there’s a lot of hustling every rookie agent needs to do to build their business, but you don’t want to work that hard forever. Think about the successful real estate agents you know. Chances are, they have great systems in place, and get the lion’s share of their listings through in-bound leads and referrals.
Isn’t that the future you want to get to?
So, get the right marketing systems in place now. That way, like building a gazebo on a rock solid foundation, you’ll build a career that grows and lasts.