You did it. You jumped into the real estate game and now you’re “in it to win it.” That’s both exciting and challenging, especially when you’re a new agent looking to establish yourself in your market. There’s a lot ahead of you, and a lot on your to-do list. One of the best things you can do to start building your foundation is begin putting the pieces in place to grow your referral network now rather than later.
One of our coaching members, Annette Mina—who is in the Top 1% of agents nationwide—recently spoke about this during one of our coaching sessions. The power of showing up for the people in your sphere and staying top of mind is the key to designing a long and profitable career in this industry, and enjoying the journey along the way.
Here are some of the best and fastest ways for new real estate agents to start building a strong referral network:
- Establish an online presence. Use the far-reaching power of digital platforms and agent directories (such as our POWER AGENT® Directory) to spread the word, showcase your value proposition and connect with potential clients. Create a professional website, optimize your social media profiles and consistently share valuable content related to the real estate market.
- Join local real estate groups. Actively participate in local real estate associations, networking events and community gatherings. Don’t just stand off to the side either. Connect and build relationships with fellow real estate agents, mortgage brokers and other industry players. This can lead to valuable referrals, particularly if you serve a specific niche.
- Collaborate with other professionals. Create partnerships with industry professionals such as mortgage brokers, home inspectors and attorneys to offer services or seminars to your farm area. Not only will this enhance the value you provide to clients, but it will also open the door to building relationships.
- Implement a referral program. Create a fun referral program that incentivizes past clients, friends and family members to refer potential clients to you. Offer rewards such as discounts on future services, gift cards or exclusive access to real estate resources. This can motivate those in your farm area to actively refer business your way.
- Engage in cross-promotion. Join forces with local businesses in the community for cross-promotional opportunities like co-hosting events, sharing each other’s content and more. Building partnerships with businesses that align with real estate, such as interior designers or moving companies, can lead to fruitful referrals and community opportunities.
By combining online and offline strategies, providing exceptional service and developing meaningful connections, new real estate agents can quickly expand their network and create a sustainable source of referrals for future success.
Lastly, have a strong support system. The beginning of your career can feel like a bumpy ride at times, so it’s important to have systems and people in your corner paving the way. Know that my team and I are here to help.
For more information, visit https://darrylspeaks.com/.
Great tips, except #4. All referral fee arrangements must comply with federal law and state law. Under federal law, if a transaction involves a federally related mortgage loan (which includes most home purchases), you cannot give or receive any fee, kickback, or thing of value pursuant to a referral agreement or understanding whether written or oral. (Real Estate Settlement Procedures Act, 12 U.S.C. § 2607(a).)