Realtors: Why use Referral Marketing
17 August 2018
As any builder will tell you, a house has several systems that make it work effectively. There’s the heating and cooling system for maintaining a comfortable environment; the plumbing system for the kitchen and bathrooms; the electrical system for lights and other power needs; and so forth.
There may be other systems as well. Even home WIFI is a system.
The point is, you rely on those. In fact, when you switch on the light in a room, you probably don’t give the hard-working system that’s making it happen a second thought.
That’s the magic of systems.
What does this have to do with real estate marketing and your success as an experienced or rookie Realtor©?
The answer is: plenty!
In fact, getting the right systems in place is essential to generating and converting a steady — and ever-building — flow of real estate leads and referrals.
What you want are real estate marketing systems working hard for you in the background, so that generating and converting leads and real estate referrals is as predictable for you as, figuratively, turning on the lights.
Depending on your focus as a real estate agent, there are basically three types of real estate marketing systems you may need.
The first is a system for building loyalty with past clients. That’s important because this group can be a lucrative source of referrals for you. In fact, according to studies, the average homeowner is in a position to recommend an agent to others two or three times a year.
You do the math. That’s a lot of potential real estate referrals!
The best marketing system for client referrals should include a set of tools for keeping in touch with past clients, ideally monthly. And, of course, the more automated and done-for-you that system is, the better.
The next system you might need is one for working a real estate geographic farm. Relying on door-knocking is exhausting and won’t get you far. To generate leads from farm, you need a system that continuously stays in contact with residents and positions you as the go-to agent for that area.
Finally, a third system is one that helps you convert leads. Generating lots of real estate agent leads is exciting, but if you don’t convert some of those into new clients, that excitement will quickly fade.
A real estate lead conversion system is particularly important for long-term leads, where a prospect may not be moving for a few months. You want to make sure that when he finally pulls the trigger to sell his home, you’re the agent he calls.