5 Effective Methods for Increasing Real Estate Referrals
When potential home buyers look for properties, there is an abundance of agents ready to serve them. Home sellers will have little trouble finding a real estate agent to list their homes for sale. These prospects will not contact you if they have never heard of you before. The majority of people trust the opinions of those they know and read about, and that is the reason referrals are so important in real estate sales. How can you get more referral business? Here are five proven strategies you may want to consider.
- Develop Local Business Relationships
Many local businesses are directly tied to real estate. For example, when people buy houses, they usually want a trusted lender to finance the sale. Homeowners often require the services of local plumbers, electricians, HVAC companies, and other contractors. Homebuyers need insurance agents to write their homeowner policies. The list of businesses related to the housing industry is substantial.
With so many companies tied to real estate sales, it makes sense to cultivate as many local business relationships as you can.
- Clients appreciate business referrals for their needs
- Other businesses will refer you to people in need of your services
- By being a member of business associations, you enhance your reputation in the community.
- Ask for Referrals
Chances are, past clients may not refer you unless you ask them to. People often research on the internet first, before they decide which real estate service to go with. To get more referrals, use positive testimonials on your website, social media platforms, and other marketing materials. Develop a customer testimonial section for your website to instill confidence in your services.
- Utilize Quality Content
If you maintain a relationship with clients after the sale, you remain top of mind. Clients remember you when it is time to refer someone to your company. When you provide quality content like helpful homeowner tips and ways to improve their property, your clients will appreciate you. Publish useful content on your blog and email links to your customers.
- Get Out and Mingle with Other Professionals
When was the last time you attended a real estate trade show? How many business-related local events do you go to each year? If you answered "few" or "none," you might be missing out on the chance to network with other professionals connected to your business in some way. The more people you know, the more your sphere of influence expands, and the more referrals you are likely to earn.
- Offer Referral Incentives
When you reward others for sending a referral, they are more likely to continue doing so. If you give someone a gift card to a local restaurant for referring business to you, they will remember your kindness and be motivated to send more business your way.
You must know your clients well so you can give them rewards that match their needs and lifestyles. You should have detailed files on all clients with personal information and other details you gathered. Keep this data filed in your customer relationship management (CRM) software. You may also want to create a customer testimonial contest and award prizes to entrants. Each client earns one entry for a testimonial.
Things to Remember
To increase referral business, get out, and meet more business people in your community. Develop a strong network of business professionals, which can lead to "give and take" relationships for referrals. You give your clients something of value with your blog posts when you include helpful tips and articles of interest to them. Attend as many community events as you can to improve your business relationships. Reward clients when they refer business to you, and they will keep doing so.