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A referral is one of the best compliments you can receive as a real estate agent. A referral can boost your credibility and land your next big sale, whether it comes from another agent, a client, or a friend or family member. However, real estate referrals are not always that easy to obtain. The Council of Residential Specialists reports that around 40% of real estate agents receive roughly one to five referrals each year. So, what are some tried-and-true methods for gaining more referrals? Here are a few you can try today.
Getting more referrals starts with you being proactive about asking for them. Many agents have difficulty explicitly asking for referrals because they don’t want to bother their clients, or are just plain uncomfortable asking in the first place. Unfortunately, the reality is that most clients (even the ones who were ecstatic with your services) won’t go out of their way to give referrals unless you ask.
Generally, the key is to ask for real estate referrals at the right time. Ask for the referral when you send a “thank you” note or gift a few days after closing the deal. When asking for a referral from another agent (one who is not in your market), make sure you’re offering to reciprocate the favor. Seeking out agents from other markets and maintaining those referral relationships will benefit both parties and ensure your success in building out a more robust referral pipeline.
Even if you don’t immediately receive a referral from a client after you’ve sold their home, this doesn’t mean you won’t receive one later on. To increase your chances of getting a referral down the road, staying in touch with your clients long after the sale is essential. One way to do this is to note any similarities or common interests you may share with each client.
For example, perhaps your children go to the same school, or maybe you both enjoy hiking. These shared interests are a great reason to stay in touch and keep the conversation going after the transaction is complete. Many real estate agents also successfully send occasional emails or even physical mail pieces to their past clients. For instance, you might send a greeting card to a client on the anniversary of their home sale/purchase. This message also allows you to casually ask your client if any of their friends or family members are looking to buy or sell a home.
To keep your clients up to date on the latest real estate happenings in their neighborhood, you might also consider sending out an automated personal sphere brochure that will inform them of how their local market is performing. This is not only a great way to stay top of mind with clients, but it’s also a great way to help them track the value of their own home and pricing trends throughout their neighborhood.
Last but not least, don’t overlook the referral potential in your neighborhood. Even something as simple as a friendly conversation with your neighbor could turn into a referral, especially if you let your neighbors know that you’re licensed and available to help. Once your neighbors know that they have a real estate agent living and working within their community, they’ll be more likely to turn to you if they wish to sell their homes or have loved ones looking to buy or sell.
Sponsoring local neighborhood events is another great way that you can get your name out there and network with local homeowners. Additionally, if you live in an HOA or another community with its website or community page, don’t hesitate to advertise your real estate services on these platforms. Online communities for real estate agents can be an excellent source of referrals. The key is to get out there and don’t be shy! If somebody comments on or interacts with your online postings, don’t hesitate to reach out to them privately. Remember, even if you’re not putting yourself out there, your competition likely is.
There’s no overstating the power of real estate referrals, especially in today’s competitive market. And while referrals may sometimes seem elusive and challenging to come by, the reality is that all it takes is one great referral to make a huge difference in your career.
At REAL Marketing, we understand the impact that top-notch marketing materials can have on your success as a real estate agent and your ability to get referrals. If you’re serious about setting yourself apart from the competition and positioning yourself as a local neighborhood expert, our knowledgeable team is here to help. We can do it all, from professional design and content creation to printing, postage, and more. Contact the REAL Marketing team today to get started or to learn more about our real estate marketing services
This will be completely turnkey for you. This means you’ll only need to approve the initial design and first mailing! Each month after that these will be prepared with new data and sent for you at the same time every month.
BECOME THE DOMINANT FORCE in your community. By presenting homeowners with quality and relevant information, we position you as the hyper-local expert. The impact is immediate — your marketing and professionalism showcased.
Whether you are just starting out or have an established brand, the Personal Sphere is a great piece to maintain your personal connection to clients, friends, and family. Our Personal Spheres can be selected as a one-time mailing or be developed as a year-long marketing campaign.