17 August 2018
Imagine checking your email and noticing a message from a new real estate agent lead. Her name is Jill and she explains that Dave — a home improvement contractor — recommended she contact you. Jill’s about to list her home and is looking for a great real estate agent. Because Dave spoke so highly of you, she’s hoping you’re that agent!
What a wonderful email to find in your inbox! The chances of you getting that listing are good. Probably more than good. Homeowners simply prefer to hire professionals who come recommended.
That’s the advantage of having a growing real estate referral network.
Would you like to increase the number of professionals who recommend you to their clients and customers? Depending on the size of your referral network right now, you may be able to substantially grow or even double it in just three months.
Here are some ideas for doing just that.
- Contact all the referral sources you haven’t seen nor heard from for a while. Touch base. If possible, meet them for a coffee or lunch. Try to re-ignite those relationships. This alone could add one or more new active referrers to your network.
- Make sure you have a good real estate CRM. You want to be able to put contact information into a system that not only stores information, but also prompts you to make regular contact.
- Make a list of potential new referral sources. Think about the types of businesses that often get asked “Do you know a good agent?” Beyond the obvious — lawyers, movers, contractors, etc. — examples include florists, cleaners, self-storage companies, truck rental companies, shipping supply stores, auctioneers and liquidators, and insurance brokers.
- Set a goal of contacting and, if possible, meeting a potential new referral source once a week; ideally for a coffee or lunch. Over three months, if just three out of the 12 become new sources of real estate agent referrals, that could result in several new listings for you.
- Put a lead-capture system on your agent website. Real estate referrals don’t always call right away. Instead, they might visit your website first to learn more. You’ll want a mechanism that automatically captures name and contact information and puts that information directly into your CRM for follow-up.
- Writing in RISMedia, Yazir Phelps recommends remembering special occasions, such as birthdates and anniversaries. Everyone appreciates a greeting card or special message on these days. Of course, you’ll need a good real estate CRM to keep track of this information.
- Do a great job of staying in touch with past clients. Why? These people could also be clients or customers of referral sources. When past clients are speaking highly of you, those in your referral network will feel more comfortable recommending you. (A real estate marketing system makes this a lot easier.)
- Partner with a referral source to put on an event, such as a mortgage seminar, client appreciation picnic, or any other event where you both benefit. Your referral source will invite their prospects and customers, giving you a chance to meet them.
All of these ideas are do-able over the next three months. So, why not make a plan and put these strategies into action starting today? You might just end up with a larger and much more active referral network in just 90 days!