Building a strong referral base is as important to long-term success in the Real Estate business as the actual sale of property is. Every Agent knows this to be true and yet many never move beyond a feeble “please refer me to your friends” or a very subtle tag line at the end of emails and on the back of business cards. While everyone across the internet board is busy screaming CONTENT IS KING I can see where it would be easy for a busy Agent to forget the extreme importance of FIRST BUILDING REFERRAL BUSINESS. Content is very nice, and will most likely bring you new clients so I highly suggest keeping your blog current with trendy and interesting material and populating all of the Social Media sites you’ve chosen to participate with on a regular basis. Most important of all, surpassing even that ever-present lead generation idea, is building your referral base. Here’s why:
Referrals convey INSTANT AUTHORITY
With the AUTHORITY of the referral and the immediate TRUST it allows you, you’ve cut your work in half in cultivating a new satisfied client, who then
also become a source of referrals – IF YOU TREAT THEM CORRECTLY. (I’m working on that blog – sign up for subscription and you’ll get it the minute it is written!)
Past clients are one excellent source of referrals, but if you are a newer Agent, that is probably a small pool for swimming in at this time. There are other ways to duplicate the instant trust and conveyed authority with what I call THE INDIRECT REFERRAL.
An indirect referral is an inferred referral and accomplished by where the lead comes from. Let me make this point quickly with this example. When you advertise in the local school newsletter that gets sent home with every student each quarter and read by 93% of parents, there is an implied endorsement of you as the local Real Estate Agent. Instant, indirect referral power. If you can get an HOA to pass out even ONE of your business cards, for any reason at all, the implied endorsement stands. Any time someone in a position of authority or trust gives your card to someone else or puts your advertisement in their publication the authority and trust quotient they possess is passed on to you by default.
Look outside the usual places, which tend to be overcrowded anyway. People place greater confidence in people they feel like they know, even if they’ve never met you! Having something in common carries the same weight as an indirect referral in that case. How might you “introduce yourself” to those who work out at the same gym, shop in the same stores, have children in the same dance classes? Is there any sort of community bulletin board or way to distribute your business card?
One of the things I’ve always admired about Real Estate Agents is their willingness to help others. Just being a Realtor indicates a strong likelihood you have the kind of personality that finds happiness in making others happy. In fact, Real Estate professionals are among the top 5% when it comes to giving to charity or participating in charitable acts. Just being involved in your community is the most powerful indirect referral you’ll find. You don’t have to be pushy, but do be obvious about what you do for a living. Then you just may find yourself making a good living at it.
Writing encouraging blogs to inspire and inform real estate Agents is the goal of this former Realtor turned Ghostblogger. Your input, comments and suggestions are welcomed and valued. Subscribe to this site to receive all the newest and latest as soon as it’s published. You can join Marie’s Network on LinkedIn for even more insightful commentary. Just use my email firstname.lastname@example.org New invitations are always welcome. Thanks for stopping by. Ya’ll come back now, ya hear?