Realtors: Why use Referral Marketing
17 August 2018
As you may be aware, there are basically two types of real estate agents.
There’s the agent who constantly scrambles for business, working hard each month just to get enough leads. And then there’s the agent who gets all the real estate agent leads they need — and then some — through word-of-mouth, reputation and referrals.
Which agent are you? Or, which do you want to become?
That answer is obvious. The more important question is, how do you develop the relationships needed to generate more leads and agent referrals?
Let’s take a look at that.
When we talk about relationships in the context of real estate marketing, we’re essentially referring to four important groups.
Obviously, the more solid relationships you create within these groups, the more real estate agent leads and referrals you’re going to get — naturally. Homeowners in your geographic farm will call you when they’re selling. Past clients will recommend you those who ask them for real estate agent referrals. Prospects will call you when they’re finally ready to make a move. Business contacts will send you referrals.
In fact, as real estate veteran and author Bill Gassett writes in Mass Real Estate News, “Those who build and nurture relationships eventually become some of the most successful agents… in the industry.”
Okay. So how do you build those relationships?
The two keys are value and consistency.
By value, we mean connecting with past clients and prospects in a way that adds value. You probably know from experience that when you provide helpful advice and ideas to your clients and prospects, you get a positive response. They tend to like and trust you more. Why? Because you’re adding value. You need to do the same in all your keep-in-touch communications, particularly your real estate direct mail newsletters.
But building relationships isn’t an event, it’s a process. That’s where consistency comes in. You need to connect with past clients, prospects and business contacts on a regular basis. Ideally, monthly. That creates the momentum that ultimately results in people thinking of you — and only you — as their go-to real estate agent.
If this seems like a lot of work, it is. But a good real estate marketing system that automates much of the process for you makes it a lot easier.
So, think about the type of agent you want to be a year from now. Then, focus on building the relationships that will get you there.