Referrals are one of the best ways realtors have of gaining new business. A satisfied client, family or even friend can provide a recommendation that will carry far more weight than any other marketing tool.
Referral leads are easy to follow up on. You have a ready-made introduction that is seamless and effective.
While referrals seem free, they do require a certain kind of payout. You must provide exceptional customer service for your clients, which exceeds their expectations. When you do, your clients will be blown away and they won’t be able to stop telling everyone else about it.
Follow these five practical steps to see your referral rate soar:
Provide Unbelievable Service to Your Clients
The first step is to provide outstanding service to all of your clients. If the service is not above average, no one will remember it. You want to impress your clients so much that they just can’t help but tell others about their experience.
What makes for outstanding service is simple but effective. They want consistent feedback and continual communication. When you keep them updated and informed beyond what’s expected, it will increase their level of satisfaction with your service. Lack of communication is one error that is seldom forgotten.
Maintain regular communication and you’ll be surprised at the number of referrals that one simple act brings in.
Ask Past Clients to Provide Referrals
One of the simplest ways to get referrals is to ask for them. Contact former clients and ask if they know someone in the market for your services. At any given time, people know at least one person buying or selling a home who could use your help.
Start with your friends and close clients and work your way down the list. You never know who might have a name for you. Keep your ears open and don’t forget to ask for help building your business.
Ask Current Clients to Provide Referrals
Don’t forget to ask clients you’re currently working with if they have referrals. The best time to get a referral is while you’re still in the front of their minds. Everyone they know has heard that they’re buying or selling a property, and many will ask who they are working with. It’s easy in this conversation to hear about someone else in the same situation, and they can often provide names of people who are considering buying or selling or unhappy with their current situation.
These referral sources will be enthusiastic in sharing their information. Don’t wait until they are busy settling into their new home or moving out of their old one to try to get a referral.
Create an Automatic System to Get Continual Referrals
Don’t forget to stay in contact with past clients to gain the most referrals. Create an automatic program that allows you to stay in contact. Connect with them on social media and send out an occasional email to thank them for their business. The key here is to make it occasional so that they don’t get tired of you and start deleting your emails. When you stay on their radar, they will remember you the next time they have the opportunity to recommend someone to a friend or co-worker. Statistics show that 80 percent of referrals come from 20 percent of previous clients.
Track and Measure
Make sure you know who is sending referrals. This will tell you where to spend your effort for the most results.
When you track this information, you can recognize that person, which will make them even more inclined to keep giving out your name.
Referrals can make the process of getting new business much easier, but only if you know how to cultivate them.
