Referrals are the lifeblood of any business, and real estate is no different. In fact, referrals are so vital in real estate that many agents focus their entire business around generating them. And it makes sense—after all, what could be better than having a constant stream of high-quality leads coming in, day after day?
But, how do you get that stream of leads that will fill your pipeline?
It starts with you
Your clients will refer friends to you if they are satisfied with the job you’ve done for them.
- Operate your business with excellence.
- Be detail-oriented, particularly at closings.
- At multiple points along the way, express gratitude to your clients for letting you serve them.
- Anticipate your clients’ needs before they do.
- Provide a superior customer service experience.
Ask, and you shall receive
Train yourself to ask for referrals. Begin early in the relationship with clients. If the clients were referred to you, mention that, saying something like, “Thank you for letting me help you with your home search. Just as X referred you to me, if you have friends or family who need to move, please let them know I would be glad to help.”
If that line sounds scripted, it is. Did you know that memorizing scripted requests helps ease the awkwardness you may feel initially? As your confidence grows, you’ll make these lines your own, and your referral requests will become more spontaneous and comfortable.
Seek customer testimonials
After your clients’ closings, ask them to share a testimonial on Google reviews and your social business page. You can then add these testimonials to your agent websites and incorporate them into your marketing materials. Ask satisfied clients if they would speak on your behalf to new buyers and sellers considering doing business with you.
Start a newsletter
Build a database or CRM of former clients and professionals in your business and send them a regular newsletter (print or digital). It doesn’t have to be lengthy. Provide market insights, information on upcoming community events, local shopping resources, and more. This keeps your name top of mind for the day your clients encounter someone in need of a REALTOR®. In addition, they may share your newsletter with others, increasing your sphere of influence.
Nurture your sphere of influence
Your sphere of influence (SOI) is a list or database of people you know. Most real estate agents can benefit significantly by organizing their contacts into a CRM (customer relationship management database). In addition, many software programs are available to help everyone from the novice to the expert manage, nurture, and retain clients. A hot seller’s market with low housing inventory diminishes the listing leads generated from traditional methods. However, consider these tips for engaging your SOI to optimize the flow of buyer and seller leads.
