“People influence people. Nothing influences people more than a recommendation from a trusted referral. A trusted referral is the holy grail of advertising.” – Mark Zuckerberg, Facebook
As a real estate agent, it’s important to nurture your referral network in a variety of ways so that you continue to stay top-of-mind. Start by keeping your contacts organized and updated in a Google drive or CRM to make your interactions with them more effective. Recording notes on each person, such as when you last spoke with them and important personal/business details (e.g., dog lover, five kids) or notable dates (e.g., birthdays, relocation), will guide when and how you reach out to them. You can even rank your referral source database so you can prioritize “VIP referrers.”
Referrals have always been a significant source of business for real estate agents. According to our Referral Report, the close rate of a typical referral is around 50 percent. In addition, “Nearly 40 percent of inbound referrals come from the agent’s sphere with a majority of those coming from past or current clients.” These findings reinforce the importance of consistently engaging with your sphere of influence both online and offline.
In today’s digital world, there are endless ways to stay top-of-mind online.
- Add your trusted referral network to your monthly newsletter or email list.
- Consistently share valuable content on your blog.
- Connect with them on Facebook, Twitter, Instagram, Snapchat and LinkedIn.
- Host a live Q&A session on Facebook or Twitter to answer questions.
- Send them an email to check in.
- Invite them to your upcoming webinar.
- Alert them when vendors are offering discounted services such as painting, gutter cleaning or leaf blowing in the fall.
As creative as you can get with engaging online, there is nothing more impactful than in-person connections.
- Pop by their office or home with a thoughtful gift.
- Host a client appreciation party or event (e.g., sports game, happy hour).
- Send a handwritten thank you note or holiday card.
- Treat them to a cup of coffee at a new local cafe.
- Invite them to a seminar or speaking engagement.
- Meet up with old clients who have relocated when you’re in their city for work.
- Pick up the phone to check in and say hello.
Regardless of how you stay in touch with your sphere of influence, it’s imperative to nurture these relationships both online and offline. At the end of the day, if they or someone they know has a real estate need, you want them to immediately think of one person: you.
Your real estate business is bigger than you think. ReferralExchange matches your clients with three great agents and pays you a 25 percent referral fee at closing.
For more information, please visit www.referralexchange.com.
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